As underlined in Ferrari Code of Conduct (the “Code”), Ferrari is committed to fully complying with all applicable laws and regulations and its Third Parties are expected to comply with those laws in connection with any activities or business conducted for and on behalf of Ferrari Group.
In order to implement and strengthen the Code’s principles, Ferrari has adopted a Third Parties Compliance Practice (the “Practice”) that outlines the general rules of conduct that have to be followed when dealing with all Third Parties, including active and passive counterparties and any further Third Parties that may do business with Ferrari.
Ferrari indeed is committed to collaborate only with Third Parties that meet certain requirements both in terms of compliance with applicable laws and regulations and in relation to ethics, integrity and transparency. To this purpose, the Practice underlines the importance of a “compliance evaluation” before any business relationships, in order to assess and minimize any potential risks and therefore to protect Ferrari assets, integrity and reputation in an overall and long-term vision.
Third Parties are requested to comply with Ferrari ethical principles and standards and this is a clear and essential contractual commitment in all commercial relationships. In doing so, Ferrari Third Parties become also active parties towards their own employees and their respective third parties in order to disseminate a culture of compliance, integrity and transparency in all business relationships.