Diamond Coring's Code of Ethics
Click each title to expand and view information about our Code of Ethics.
I. Statement of Policy
It is Diamond Coring’s policy to maintain the highest ethical standards and comply with all applicable laws, rules, and regulations. We believe that adherence to this policy will ensure our continued success as well as earn and maintain the confidence of our customers and the community in which we live. In order to ensure Diamond Coring operates pursuant to this policy, we have established this Code of Ethical Conduct (the “Code”). The following general rules apply to the implementation of this Code:
All employees must comply with this Code. Any officer, director, or employee violating this Code is subject to discipline, which may include demotion or dismissal.
All employees have a duty to report all suspected violations of the Code or other potentially unethical behavior by anyone, including officers, directors, employees, agents, customers, subcontractors, suppliers, and prime contractors, to the Corporate Compliance Officer.
Employees in management positions are personally accountable for their own conduct and the conduct of those reporting to them. Each management employee is expected to inform those reporting to them about this Code and take all necessary steps to ensure compliance with this Code.
No employee has the authority to direct, participate in, approve, or tolerate any violation of this Code by anyone.
Any employee who has questions about the application of this Code should consult with the designated Corporate Compliance Officer.
Code of Ethical Conduct: The written statement of acceptable behavior by Diamond Coring’s officers, directors, and employees that ensures Diamond Coring operates according to the highest ethical standards.
Code: The Code of Ethical Conduct.
Corporate Compliance Officer: The company official designated to be responsible for implementing and administering the Code.
Independent Compliance Officer: An individual retained by Diamond Coring who is neither an employee nor agent of the company to oversee the Corporate Compliance Officer and the implementation of its Corporate Compliance Program.
Corporate Compliance Program: The written procedures and policies used by Diamond Coring that are designed to ensure that all officers, directors, and employees are aware of the Code and adhere to its standards. The Corporate Compliance Program is implemented and administered by the Corporate Compliance Officer.
Employee: Any person employed by Diamond Coring, including employees, foremen, managers, officers, directors, and persons authorized to act on behalf of Diamond Coring.
Program: Corporate Compliance Program.
III. Standards of Conduct
IV. Gifts and Entertainment
V. Communications and Records
All employees are expected to be familiar with, and conform to, Diamond Coring’s document retention policy as well as Diamond Coring’s recordkeeping and reporting procedures. Additionally, all company and employee communications, correspondence, and records must be accurate, complete, and timely. The contents of any written communication must be legible and unambiguous. If, after making any communication, correspondence, or record, the employee discovers that s/he has made a mistake, then the employee must take all steps as may be reasonably necessary to correct such mistake. Any employee who knowingly makes a false or misleading communication, correspondence, or record will be terminated.
VI. Antitrust Policy
Diamond Coring is fully committed to compliance with the antitrust laws, which are designed to promote free and open competition in the marketplace. Not only does the customer benefit by getting the best product at the lowest price, but Diamond Coring also benefits by being able to compete on a fair level playing field with competitors. The antitrust laws are complex and must be complied with strictly. Routine business decisions involving prices, terms and conditions or sale, dealings with competitors, and many other matters present problems of great sensitivity. It is therefore essential that every employee be generally aware of the antitrust laws. Below is a general overview of the antitrust laws: The Sherman Act is the primary federal antitrust statute. The Sherman Act prohibits any agreement among competitors to fix prices, rig bids, or engage in other anticompetitive activity. Violation of the Sherman Act is a felony punishable by a fine of up to $10 million for corporations, and a fine of up to $350,000 or 3 years imprisonment (or both) for individuals and may subject the Company and/or the individual to suspension or debarment. In addition, collusion among competitors may constitute violations of the mail or wire fraud statute, the false statements statute, or other federal felony statutes. In addition to receiving a criminal sentence, a corporation or individual convicted of a Sherman Act violation may be ordered to make restitution to the victims for all overcharges. Victims of bid-rigging and price-fixing conspiracies also may seek civil recovery of up to three times the amount of damages suffered. Most criminal antitrust prosecutions involve price fixing, bid rigging, or market division or allocation schemes. Under the law, price-fixing and bid-rigging schemes are per se violations of the Sherman Act. This means that where such a collusive scheme has been established, it cannot be justified under the law by arguments or evidence that, for example, the agreed-upon prices were reasonable, the agreement was necessary to prevent or eliminate price-cutting or ruinous competition, or the conspirators were merely trying to make sure that each got a fair share of the market.
All requests or demands for payment made on behalf of Diamond Coring pursuant to any contract or business agreement shall truthfully and accurately reflect the value of the goods or services provided. Under no circumstances may an employee make a false claim. Examples of false claims include billing extra time not spent working on a project, charging for materials not used in a project, or artificially inflating a claim in order to negotiate additional compensation from the customer. Any claims that are false, fraudulent or otherwise deceitful may subject the company, and/or the individual making the claim, to civil liability up to 3 times the amount false claim for payment, criminal liability punishable by up to 5 years imprisonment, a fine, and restitution, and administrative liability through suspension or debarment. Accordingly, any employee who knowingly makes false claims shall be terminated. Additionally, any employee who knows, or reasonably should know, that another employee has submitted, or intends to submit, a false claim and fails to report it to the Corporate Compliance Officer, will be subject to discipline, which may include termination.
VIII. Statements & Certifications
All statements, representations, and certifications made on behalf of Diamond Coring, whether written or oral, shall be accurate, truthful, and timely. Under no circumstances may an employee make a false or misleading statement, representation, or certification. Any statements that are false, fictitious, or fraudulent or contain materially false, fictitious, or fraudulent statements or entries, may subject Diamond Coring, and/or the individual making the statement, to criminal liability punishable by up to 5 years imprisonment, a fine, and restitution, and administrative liability through suspension and debarment. In addition, if a false statement is used to get a claim paid, then Diamond Coring and/or the individual, may be subject to civil liability up to 3 times the amount claimed for payment.
Additionally, employees are routinely required to certify that they and Diamond Coring are in compliance with various contractual provisions and regulatory requirements. Examples of common certifications include certifications pertaining to environmental, safety, personnel, and health matters, product quality and material certifications, and quality control and quality assurance testing certifications. Employees must be aware of the requirements applicable to their jobs and ensure that all certifications are accurate and that there is neither a material omission of fact or materially misleading statements.
IX. Commitment to Disadvantaged Business Enterprises
Diamond Coring is committed to full compliance with government sponsored opportunity programs, such as the disadvantaged business enterprise (DBE) program, and maximizing the opportunities of DBEs. As such, Diamond Coring will not discriminate on the basis of race, color, national origin, or sex in the hiring of suppliers or subcontractors and will foster an environment in which everyone is treated with respect, trust, honesty, fairness, and dignity. For each government-funded contract, Diamond Coring will make good faith efforts to maximize the participation of DBEs in subcontracts and ensure that each DBE is performing a commercially useful function. A DBE is deemed to be performing a commercially useful function if the DBE is responsible for executing the work and carrying out their responsibilities by actually performing, managing, and supervising the work.
X. Obligation to Report Violations from Cooperation
Each employee must promptly report any known or suspected violation of this Code and all other unlawful or unethical conduct to the Corporate Compliance Officer. Employees are obligated to report such known or suspected conduct without regard to the identity or position of the suspected offender. Any report made under this section will be strictly confidential and under no circumstances will any employee who makes a report be subject to any acts of retribution or retaliation or disciplinary action. Additionally, all employees must fully cooperate in any investigation of a suspected violation of this Code and fully cooperate with any request by the Corporate Compliance Monitor.
Any employee found to have violated this Code or engaged in other unlawful or unethical behavior shall be disciplined, including demotion or dismissal. Any employee who fails to report known or suspected violations of this Code or other unlawful or unethical behavior shall be subject to appropriate disciplinary action.
XI. Consequences for Violations
Any violation of this Code is cause for disciplinary action that may result in any of the following consequences: