In addition to conducting our business in accordance with our Code of Conduct, we strive to ensure that our supply chains do not contribute toward slavery, forced labour or human trafficking. We are committed to partnering only with suppliers who share our standards and our commitment to conducting business in an ethical manner, and we seek to identify suppliers who have taken steps to prevent slavery and human trafficking within their own businesses and supply chains. Following is a summary of some of the steps we have taken to ensure that our suppliers meet these standards.
Vendor Management Program. We have developed a comprehensive Vendor Management Program which governs our engagements with each of our vendors and suppliers across the Company. The Vendor Management Program involves checkpoint reviews prior to and throughout the course of our relationship with each supplier which allow us to confirm that our suppliers conduct business in accordance with our expectations.
Risk Assessment and Due Diligence. Prior to entering into a relationship with a new supplier, we conduct due diligence activities to assess the risks of partnering with that supplier and to provide assurance that the supplier meets expectations regarding adequate controls. As part of these due diligence exercises, we require that our suppliers are compliant with applicable laws related to forced labour and human trafficking and that they have implemented appropriate controls to ensure forced labour and human trafficking do not occur within their businesses or their own supply chains.
Worldwide Terms & Conditions. Our contracts with our suppliers contain specific terms and conditions which require our suppliers to comply with all applicable laws and regulations in their provision of goods or services and to conduct their business in accordance with our standards and expectations. We reserve the right to terminate our contracts with suppliers for noncompliance with such laws, regulations and standards.
Ongoing Monitoring. We conduct ongoing monitoring of our suppliers to ensure that they are compliant with their contractual commitments and are delivering products or services in accordance with our standards. Suppliers which present heightened risks may be subject to additional audits or reviews.