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International Farm Equipment Co.
內容大綱
In 1995, the United Nations began to ease sanctions on Iraq in what was known as the “Oil for Food” program. One of the first companies to return to Iraq under the UN program was U.S.-based International Farm Equipment Co. (IFE). IFE had been an important supplier of agricultural equipment to Iraq until the Gulf War in 1990. Shortly after IFE established its Iraq office upon returning, the Iraqi Ministry of Agriculture demanded a direct payment of 10 per cent of all future contracts. Several other companies had agreed to make the payments, including at least one prominent competitor of IFE. The payments would be classified as “post-sale commissions” and would be conducted through a third-party agent working on IFE’s behalf. IFE’s business manager for the Middle East needed to decide how to proceed.
學習目標
The case is used in conjunction with Asis Electronics (#9B11M057) to introduce the U.S. Foreign Corrupt Practices Act (FCPA) and discuss its impact on corporations and managers. Students will become familiar with what constitutes a bribe under this law and the importance of conducting due diligence to avoid exposing companies to potential civil and criminal penalties.