Liviko good business practice

The mission of Liviko is the promotion of a cultural and responsible way of thinking, valuing quality among partners and consumers.

The daily following of principles of our main values and exemplary business activities is important for Liviko. The main values of Liviko are honesty – we are open and sincere and do not distort the truth; consideration – we are friendly and helpful and open to solutions; reliability – we keep to our promises and applicable rules; innovativeness – we are open to innovative and up-to-date ideas, we always aim to be one step ahead; and environmental awareness – we care about the environment surrounding us and use all resources as sparingly as possible.

The aim of good business practice is to assemble and specify the more important principles from which the employees and cooperation partners of Liviko are obliged to proceed in their activities.  Good business is a crucial part of Liviko’s long-term business strategy. Liviko presumes honest, ethical and law-abiding behaviour from its employees and cooperation partners in all circumstances.

Liviko’s business practices have been created based on national and international guidelines and principles. These include the sound governance practices of the Financial Supervision Authority, the OECD guidelines for international companies and the UN’s guiding principles for business and human rights.


Livikos exemplary business principles

Liviko proceeds in its activities from the following principles which are valid for Liviko as well as employees, members of the management board and Liviko’s supervisory board (hereinafter together referred to as the employees). All cooperation partners and their employees (hereinafter the Partner) are obliged to follow the principles which are precondition for cooperation with Liviko, including the violation of principles which could be the basis for the termination of cooperation with cooperation partners.

Ethics and respect of law

  • All activities are based on the laws and other valid legal acts, principles and practice applicable in the relevant field of activity.
  • If the current principles or other mutual agreements include differences with other applicable legal acts, stricter requirements will be followed in one’s activities.
  • Liviko, an employee and the Partner behave in their activities ethically, fairly and professionally.
  • The Partner applies these principles also in its business relations and makes all reasonable efforts that its own cooperation partners would follow the same principles.

Conflict of interests

  • The employees and the Partner act reliably and avoid situations where their personal as well as interests of their close persons were in contradiction with the interests of Liviko or where they could not act by considering the interests of Liviko.
  • The Partner and the employees immediately notify the competent persons of Liviko of the situations have occurred or there is a risk that it could occur.

Prohibition of corruption and prevention of money laundering

  • Liviko, an employee and the Partner apply zero tolerance to all forms of corruption, including bribe, frauds or any other prohibited business practices, and follow this in all their activities. The position should not be used to gain profit or give an unfair advantage to any third person or offer any other merits in any of their activities.
  • The aim of making and receipt of gifts and mutual hospitality is only good will and creating of friendly work relations, not influencing someone for preferable behaviour or activity. The making and receiving of gifts and hospitality should proceed from valid legislation and specific internal regulations and avoid situations in every way where this could be interpreted as an illegal or any other suspicious activity. In case of doubt of suitability of gifts and hospitality the employees should always discuss it with direct superior and rather prefer not to make and receive gifts and avoid hospitality.
  • Liviko, an employee and the Partner are firmly against all forms of money laundering and apply all measures to prevent the financial transactions to be used for money laundering.

Confidentiality and handling of inside information

  • The Partner and the employees are obliged to keep and forward confidential information safely and secretly and should not misuse inside information disclosed to them. Thereby inside information is undisclosed specific information which directly or indirectly is related to Liviko. The business secrets of Liviko and other protected information on the company’s activities, technology, equipment, financial situation, contracts, clients, suppliers, cooperation partners or pricing policy is handled as confidential.
  • The Partner guarantees that in all its contractual relationships the keeping of confidential information of Liviko is covered by a confidentiality requirement and the relevant obligation is also applied to all its employees and cooperation partners.

Supporting free competition

  • Liviko, an employee and the Partner support free and honest competition in their activities by excluding the hindering, limiting and damaging of free competition in their business activities.
  • The Partner and the employees behave in compliance with the competition regulations and do not conclude illegal agreements nor act with someone based on the agreed method which would damage honest competition.

Social responsibility

  • All persons are treated equally and recognised human rights are followed. No group or single person are discriminated for any reason, including for sex, age, race, sexual orientation, nationality, ethnical origin, disability, political beliefs, membership of the association or religious beliefs.
  • Liviko and the Partner support in every way the personal and professional development of employees by guaranteeing the compliance of working conditions with local legal acts and enabling them safe and healthy working environment.

Environmental awareness

  • Liviko, the employees are environmentally conscious and always proceed from the pursuit not to damage the environment in their activities.
  • Liviko, the employees and the Partner consider recycling, sustainable consumption habits, incl saving of electricity, water and heating, important protecting environment in their activities in every possible way.

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