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Glossary of VDP Terms

Terms & Conditions Definitions

Non-Terms & Conditions Definitions


TERMS & CONDITIONS DEFINITIONS

The Compliance Program – The Participant’s corporate compliance and ethics program, including related internal controls and any changes recommended by the World Bank.

The Compliance Monitor – The firm or individual hired by the Participant to monitor the Participant’s compliance with its Compliance Program.  The Compliance Monitor is distinct from the entity that develops the Compliance Program.

The Contracts – Contracts related to projects financed or supported by the IBRD, IDA, IFC, or MIGA that have been signed or were in effect within 5 years prior to the Date of Acceptance of the Terms & Conditions.

Date of Acceptance – The date on which the Terms & Conditions become effective for a given Participant.  It is defined as the date that the Participant’s representative signed the letter from the World Bank inviting the Participant to enter the VDP.

The Internal Investigation Plan – A draft plan, developed by the Participant and approved by the World Bank, which identifies the nature and focus of the Participant’s investigation into the Tainted Contracts.  The Investigation Plan must be approved by the World Bank and be in accord with the World Bank's Internal Investigation and Report Protocol.

The Internal Investigation and Report Protocol – The World Bank protocol specifying how a firm participating in the VDP must conduct its Internal Investigation and draft its Internal Investigation Report.

The Internal Investigation – The Participant’s internal investigation of Tainted Contracts, which is conducted pursuant to the Internal Investigation Plan.

The Internal Investigation Report – The report, generated by the Participant, of its Internal Investigation into the Tainted Contracts.  The Report must be in accord with the World Bank's Internal Investigation and Report Protocol.

The List – A list, provided by the Participant to the World Bank, of all of the Contracts.  The Participant generates the initial List, the World Bank works with the Participant to finalize it, and the Participant then categorizes the List (subject to World Bank approval and, if needed, investigation) into Tainted and Untainted Contracts.

Material Terms – The provisions in the Terms & Conditions whose violation result in a 10-year debarment for a Participant.

Misconduct - Any action or practice that is subject to sanction by the World Bank’s Sanctioning Body.

The Monitoring Report – A report, generated annually for three consecutive years (or more, if needed) by the Compliance Monitor, which addresses: (i) the compliance review performed; (ii) the adequacy of the policies, procedures, and compliance measures devised by the Participant; (iii) the status of the Participant's implementation of those policies, procedures, and compliance measures; (iv) any findings of continued Misconduct by the Compliance Monitor; and (v) reasonable recommendations made by the Compliance Monitor.

Notice – Any notice or other communication made in connection with the Terms & Conditions.
Sanctioning Body – The Sanctions Committee or its successor that may sanction for the IBRD, IDA, IFC, or MIGA.

Tainted Contracts – Those Contracts tainted by Misconduct.

Terms & Conditions – The legal document specifying the conditions upon which a firm participates in the VDP.

Untainted Contracts – Those Contracts not tainted by Misconduct.

Verification – The process of the World Bank investigating the Tainted Contracts discussed in the Internal Investigation Report to verify the Report's accuracy.

The World Bank – The IBRD, IDA, IFC and MIGA, commonly referred to as the World Bank Group.

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NON-TERMS & CONDITIONS DEFINITIONS

Background Data Sheet – The form completed by a prospective Participant and used by the World Bank to determine a prospective Participant’s eligibility to enter into the VDP.

The Categorized List – The List provided by the Participant after it has been categorized into Tainted and Untainted Contracts.

The Full Bank Report – The report produced by the World Bank based upon the Participant's Internal Investigation Report, which is shared with the General Counsel and President of the World Bank.

Legitimacy Determination – The World Bank’s determination of whether a prospective Participant is a bona fide entity to whom the Bank should submit a Background Data Sheet.

Letter of Eligibility – The letter submitted by the World Bank to a prospective Participant notifying the entity of its eligibility to enter into the VDP.

Participant – A firm, other entity, or individual that has accepted the VDP Terms & Conditions.

Redacted Report – A version of the Full Bank Report which is redacted to maintain the Participant’s confidentiality.  Redacted reports, tailored to the recipient, are shared on a need-to-know basis with the World Bank’s Executive Directors, the World Bank’s Internal Auditing Department, World Bank external auditors, other World Bank staff, World Bank member countries, other multilateral development banks, international organizations, non-governmental organizations, and civil society at large.

VDP Entry Request Form – The form, available electronically on the VDP website, which must be submitted by a prospective Participant to initiate communication with a VDP representative.

VDP Primary Contact – The World Bank liaison assigned by the VDP Manager to facilitate communication between the Participant and the World Bank.

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