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Essay / Research Paper Abstract
This 4-page paper focuses on the Foreign Corruption Practices Act as it pertains to the fictitious Geletex. Bibliography lists 3 sources.
Page Count:
3 pages (~225 words per page)
File: AS43_MTforegele.rtf
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Unformatted sample text from the term paper:
that are raising some red flags in the mind of Jed, who is the companys director of corporate compliance. In Lima, Peru, Jed,
who was reviewing financial records, discovered that the commissions expense for the branch was very high. Though Geletex paid salespeople commissions for each commercial customer recruited for cellular or long-distance
services, Jed has known that some of the companies are paying higher-than-usual sales commissions to cover the fact that salespeople are paying kickbacks in exchange for contracts. Confrontation with the
district manager, however, yielded little more than the comment that "things are different down here." Veiled bribery, it seemed, was the way to get things moving.
The same situation had gone on with the Bombay, India office - again, many different payments were made, but this time, to the Indian government and government
officials. When Jed voiced his concern, the district manager pointed out that payments were needed to get utilities going and to get the appropriate licenses moving forward.
Meanwhile, in the companys Stockholm, Sweden office, Jed saw a number of college-aged students who had little work to do. Upon questioning the district manager,
Jed was told that the employees were from important families in the region and again, "giving jobs to children is part of doing business." Foreign Corrupt Practices Act
The Foreign Corrupt Practices Act of 1977(FCPA) was passed because a lot of companies were in the same position as Geletex - they were
indulging in bribery and other questionable activities in different countries, simply to do business (Foreign Corrupt Practices Act, 1977). In the intervening years, firms that paid bribes to foreign officials
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