SUPPLIER CODE OF CONDUCT

VELA and its affiliates and subsidiaries (collectively and individually, “VELA”) provide sustainable logistics services through integrated, digital technology, aiming for optimization supply chain, and establishing a network of logistics enterprises. VELA is committed to contributing to sustainable development for current and future generations, treats all employees with respect, and conducts business with a sense of community responsibility, and ethical standards towards achieving economic, social, and environmental stability and sustainability.

This Supplier Code of Conduct (“Code of Conduct”) is intended to unify the ethical goals and conduct of all suppliers (each supplier is referred to as a “Supplier”), with the desire to ensure the long-term development of VELA and its stakeholders. In this Code of Conduct, VELA sets forth requirements and rules in cooperation with Supplier, requesting its Supplier to constantly strive to implement the principles of compliance with ethical standards, regulations, and standards in labor, and legal current regulations.

In all activities, the Supplier shall apply and comply with the rules outlined in this Code of Conduct throughout the cooperation with VELA. If any non-compliance with these requirements, VELA may terminate the cooperation.

The Supplier shall comply with the following principles :

1. Ethical and Legal Standards 

Suppliers shall implement and deploy business activities in an ethical manner that is appropriate and with integrity. This includes:

(a) The Supplier shall comply with all applicable legal requirements;

(b) Suppliers shall comply with laws and international anti-corruption and bribery laws and standards of any kind. This means that the Supplier shall not offer services, gifts, or benefits to VELA employees to influence or affect the employees representing VELA in any way;

(c) Supplier and its employees shall act honestly, responsibly, and fairly;

(d) Supplier employees are encouraged to report violations and related problems in the workplace.

2. Labor 

Suppliers shall commit to complying with published international regulations on the Human Rights of Workers. Labor-related factors include:

(a) Human Rights: Suppliers shall respect basic human rights;

(b) Child Laborer: Suppliers may not employ children under the age of 15 (fifteen) to work for them. If national laws and regulations permit children from the age of 13 (thirteen) to less than 15 (fifteen) years to perform light work, shall not be permitted if it causes harms their physical, mental, and personality development and interferes with their compulsory education and training, or if the work is harmful to their health and development (Convention ILO 138, Minimum Age Convention 1973).

(c) Working conditions: Supplier complies with the provisions of applicable laws and contractual agreements with related parties, encouraging the reward policy for the Supplier’s employees;

(d) Freedom of choice of work: Supplier shall not use coercion, coercion, and involuntary detention of workers.

(e) Working hours and Fees: Suppliers shall comply with local laws regarding working hours, wages, and employee benefits.

(f) Non-discrimination: The Supplier’s work environment shall be free of any harassment or discrimination. No discrimination of any kind based on race, color, age, sex, sexual orientation, ethnicity, political opinion, disability, creed, religion, political affiliation governance, membership in organizations, or marital status.

(g) Freedom of Association: Suppliers shall recognize workers’ freedom of association and shall not favor or discriminate against members of organized unions or unions of workers.

3. Health and Safety

Supplier shall strictly comply with the regulations on safety and health as well as provide a safe and suitable working environment for employees; takes measures to prevent accidents, ensure safety, ensure the safety of labor safety and maintain good working conditions, promote and protect the health of workers; prevent accidents, injuries, or work-related illnesses.

4. Environment 

Supplier shall comply with all applicable environmental standards, regulations, and laws. Suppliers are committed to implementing sustainable management principles, encouraging the protection of natural resources, avoiding the use of hazardous materials (if any), and encouraging the dissemination of environmentally friendly technologies by reusing activities.

5. Supply Chain 

The Supplier shall make every effort to communicate the principles outlined in the Supplier Code of Conduct to its subcontractors and strictly follow the principles of non-discrimination when selecting and working with those subcontractors.

6. Confidential Information 

The Supplier complies with the provisions of law on the confidentiality of personal information, employee information, business partners, and customers. The Supplier shall keep confidential information provided by VELA and only use it to perform its obligations to VELA.

7. General Term 

(a) If any Supplier breaches any provision of this Supplier Code, VELA reserves the right to discontinue or terminate any and/or all agreements, contracts, and/or business transactions with such Supplier. Supplier shall also be liable for VELA’s losses and damages arising from such breach.

(b) Shall not any content in this Supplier Code replace any specific provision of the Contract. If there is any inconsistency between this Supplier Code of Conduct and any provision otherwise of the Contract, the terms of the Contract shall prevail.

(c) Code of Conduct is reviewed and may be amended upon request from time to time (changes under the law). If and when compulsory, VELA shall amend, supplement, or change the content of this Code of Conduct, VELA shall send a written notification and/or email to Supplier with detailed instructions on where to intend to change. VELA commits that the contents of this Code of Conduct are for the good purpose of the Parties, without affecting the legitimate rights and interests of Supplier.

8. Supplier Statement

(a) Supplier have read and understood the Code of Conduct and commits to comply with these rules and requirements, apart from the agreement in the Contract committed by us.

(b) Supplier agrees that any breach of the principles set forth in the Supplier Code of Conduct will be treated as a material breach of the Contract by the Supplier.

(c) Supplier agrees that this statement is in accordance with applicable laws, legal procedures, and jurisdiction set forth in the Contract we have entered into.