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The Fedders Electric Group is committed to benefit the economic development of the countries in which it operates. A Fedders Electric Group company’s management practices and business conduct shall benefit the country, localities and communities in which it operates, to the extent possible and affordable, and shall be in accordance with the laws of the land.

A Fedders Electric Group company, in the course of its business activities, shall respect the culture, customs and traditions of each country and region in which it operates. It shall conform to trade procedures, including licensing, documentation and other necessary formalities, as applicable.


Financial reporting and records
A Fedders Electric Group company shall prepare and maintain its accounts fairly and accurately and in accordance with the accounting and financial reporting standards which represent the generally accepted guidelines, principles, standards, laws and regulations of the country in which the company conducts its business affairs. Internal accounting and audit procedures shall reflect, fairly and accurately, all of the company’s business transactions and disposition of assets, and shall have internal controls to provide assurance to the company’s board and shareholders that the transactions are accurate and legitimate.


Competitive Information
Fedders Electric Group company shall fully support the development and operation of competitive open markets and shall promote the liberalization of trade and investment in each country and market in which it operates A Fedders Electric Group company or employee shall market the company’s products and services on their own merits and shall not make unfair and misleading statements about competitors’ products and services.


Equal opportunities
Fedders Electric Group company shall provide equal opportunities to all its employees and all qualified applicants for employment without regard to their race, caste, religion, color, ancestry, marital status, gender, sexual orientation, age, nationality, ethnic origin or disability. Human resource policies shall promote diversity and equality in the workplace, as well as compliance with all local labor laws, while encouraging the adoption of international best practices.


Agencies
Fedders Electric Group company and its employees shall not, unless mandated under applicable laws, offer or give any company funds or property as donation to any government agency or its representative, directly or through intermediaries, in order to obtain any favorable performance of official duties. A Fedders Electric Group company shall comply with government procurement regulations and shall be transparent in all its dealings with government agencies.


Political non-alignment
Fedders Electric Group shall be committed to and support the constitution and governance systems of the country in which it operates. A Fedders Electric Group company shall not support any specific political party or candidate for political office. The company’s conduct shall preclude any activity that could be interpreted as mutual dependence / favour with any political body or person, and shall not offer or give any company funds or property as donations to any political party, candidate or campaign.


Health, safety and environment
Fedders Electric Group Company shall strive to provide a safe, healthy, clean and ergonomic working environment for its people.


Quality of products and services
A Fedders Electric Group company shall be committed to supply goods and services of world class quality standards, backed by after-sales services consistent with the requirements of its customers, while striving for their total satisfaction..


Corporate citizenship
A Fedders Electric Group company shall be committed to good corporate citizenship, not only in the compliance of all relevant laws and regulations but also by actively assisting in the improvement of quality of life of the people in the communities in which it operates. The company shall encourage volunteering by its employees and collaboration with community groups.


Public representation of the company and the Group
The Fedders Electric Group honors the information requirements of the public and its stakeholders. In all its public appearances, with respect to disclosing company and business information to public constituencies such as the media, the financial community, employees, shareholders, agents, franchisees, dealers, distributors and importers shall be represented only by specifically authorized directors and employees. It shall be the sole responsibility of these authorized representatives to disclose information about the company or the Group.


Group policies
A Fedders Electric Group company shall recommend to its board of directors the adoption of policies and guidelines periodically formulated.


Ethical conduct
Every employee of a Fedders Electric Group, including full-time directors and the chief executive, shall exhibit culturally appropriate deportment in the countries they operate in, and deal on behalf of the company with professionalism, honesty and integrity, while conforming to high moral and ethical standards.


Regulatory compliance
Employees of a Fedders Electric Group, in their business conduct, shall comply with all applicable laws and regulations, in letter and spirit, in all the territories in which they operate. If the ethical and professional standards of applicable laws and regulations are below that of the Code, then the standards of the Code shall prevail.


Concurrent employment
Consistent with applicable laws, an employee of a Fedders Electric Group company shall not, without the requisite, officially written approval of the company, accept employment or a position of responsibility (such as a consultant or a director) with any other company, nor provide freelance services to anyone, with or without remuneration. In the case of a full-time director or the chief executive, suchapproval must be obtained from the board of directors of the company.


Conflict of interest
An employee or director of a Fedders Electric Group company shall always act in the interest of the company, and ensure that any business or personal association which he / she may have does not involve a conflict of interest with the operations of the company and his / her role therein.

If an employee fails to make the required disclosure and the management of its own accord becomes aware of an instance of conflict of interest that ought to have been disclosed by the employee, the management shall take a serious view of the matter and consider suitable disciplinary action against the employee.


Securities transactions and confidential information
An employee of a Fedders Electric Group  company and his / her immediate family shall not derive any benefit or counsel, or assist others to derive any benefit, from access to and possession of information about the company or Group or its clients or suppliers that is not in the public domain and, thus, constitutes unpublished, price-sensitive insider information

An employee of a Fedders Electric Group company shall also respect and observe the confidentiality of information pertaining to other companies, their patents, intellectual property rights, trademarks and inventions; and strictly observe a practice of non-disclosure.


Protecting company assets
The assets of a Fedders Electric Group shall not be misused; they shall be employed primarily and judiciously for the purpose of conducting the business for which they are duly authorized. These include tangible assets such as equipment and machinery, systems, facilities, materials and resources, as well as intangible assets such as information technology and systems, proprietary information, intellectual property, and relationships with customers and suppliers.


Integrity of data furnished
Every employee of a Fedders Electric Group shall ensure, at all times, the integrity of data or information furnished by him/her to the company. He/she shall be entirely responsible in ensuring that the confidentiality of all data is retained and in no circumstance transferred to any outside person/party in the course of normal operations without express guidelines from or, the approval of the management.


Reporting concerns
Every employee of a Fedders Electric Group shall promptly report to the management, and / or third-party ethics helpline, when she / he becomes aware of any actual or possible violation of the Governance Principles.