Fair Competition Policy
Modern Terminals is dedicated to compliance with applicable competition laws and to promoting fair competition for the sustainable development of the industry and the benefit of customers.
As a leading container port operator in Asia, Modern Terminals’ uncompromising standards and world class services are cherished by customers and stakeholders. In this context, promotion of a fair competition environment serves the interests of Modern Terminals and our trading partners as it provides the best opportunity for the most competitive services and pricing to prevail in the market.
Compliance with competition law regimes is not just a commitment made by the Board of Modern Terminals, it is also the responsibility of all our employees. Therefore each of us has a key role to play in promoting this policy.
In addition to the general duty of Modern Terminals and our employees to adhere to all applicable legal requirements, Modern Terminals and our employees are bound by the following key principles, which underpin Modern Terminals Fair Competition Policy:-
1. No improper collusion
We will not participate in any form of anti-competitive collusion with competitors, including communications which may lead to price-fixing or market sharing.
2. No unlawful restrictions
We will not impose on trading partners restrictive conditions which are anti-competitive and unlawful, or accept the imposition of such conditions on us.
3. No misuse of market power
We will always ensure that we use our market position for pro-competitive purposes. We will not misuse any market position we may hold from time to time for the purpose of restricting competition.
4. No dishonest dealings
We will act honestly with our customers, suppliers and trading partners and will not engage in conduct which is misleading or deceptive.
All Modern Terminals employees are required to adhere to these key principles at all times, and to use these key principles to guide their decision-making and conduct. Where employees are unsure about whether proposed decisions or conduct conform to these key principles, they should consult with management in advance.
Compliance with this policy by each employee will ensure Modern Terminals continues to be recognised as a leading operator and will support the continued growth of our business in conjunction with our valued trading partners.