California Transparency in Supply Chains Act

PakLab supports the goals of the California Transparency in Supply Chains Act of 2010 and strives to be examples of good human rights and labor practices throughout our business activities. The PakLab Corporate Business Principles are at the basis of our company’s culture, which has developed over the span of 30 years. We have built our business on the conviction that to have long-term success for our shareholders, we not only have to comply with all applicable legal requirements and ensure that all of our activities are sustainable, but additionally we have to create a significant value for society.

PakLab’s actions in this area include the following:

1. Product Supply Chains / Suppliers

In The PakLab Corporate Business Principals, PakLab Commits to foster responsible practices in our supply chain. The PakLab Supplier code, which is accepted by our suppliers, helps to implement this commitment and establishes non-negotiable minimum standards for PakLab suppliers in the areas of Health and Safety, Labor Standards, Business Integrity, and the Environment.

2. Supplier Audits

PakLab reserves the right to verify our Supplier’s compliance with the PakLab Supplier Code. PakLab confirms compliance with the PakLab Supplier Code through either a combination of a third party certifications or a Responsible Sourcing Audit conducted by a third party.
In the event that PakLab becomes aware of any actions or conditions not in compliance with the PakLab Supplier Code, PakLab reserves the right to demand corrective measures. PakLab reserves the right to terminate an agreement with any supplier who does not comply with the PakLab Supplier Code.

3. Human Rights in our business activities

As indicated in the PakLab Business Principles, PakLab fully supports the United Nations Global Compact’s (UNGC) guiding principles on human rights and labor, and aims to provide an example of good human rights’ and labor practices throughout our business activities.

4. Code of Business Conduct

Since the Company was founded, PakLab’s business practices have been governed by integrity, honesty, fair dealing and full compliance with all applicable laws. PakLab employees have upheld and lived this commitment in their every day responsibilities ever since, and PakLab’s reputation remains one of the Company’s most important assets today. The PakLab Corporate Business Principles prescribe certain values and principles which PakLab has committed to worldwide. This Code of Business Conduct specifies and helps the continued implementation of the PakLab Corporate Business Principles by establishing certain nonnegotiable minimum standards of behavior in key areas.

5. Employee Training

The PakLab Corporate Business Principles will continue to evolve and adapt to a changing world. Our basic foundation is unchanged from the time of our origins of the company, and reflects the basic ideas of fairness, honesty and general concern for people.