The aim of the Integrity Due Diligence (IDD) review is to ensure that Nefco works with reputable and sustainable business partners to safeguard that resources are used efficiently and that project objectives are met.
Nefco conducts IDD reviews on entities and individuals that it is considering working with. This process is like the Know Your Customer (KYC) process that commercial banks employ to screen their customers to make sure they know who their customers are.
You will therefore be screened by Nefco or a consultant engaged by Nefco, as a mandatory part of the process to receive Nefco financing. This is not because we suspect you of any wrongdoing but because Nefco must know who it will be doing business with. Your cooperation is required in this process.
You must complete the counterparty form provided by Nefco with accurate and complete information. It is important that you include all relevant information – leaving out relevant information is a breach of Nefco’s policies. You must disclose, among other things, beneficial owners, board of directors, senior management and any other relevant individuals or associated entities with the entity you are representing.
You must also disclose any integrity issues that you or your organisation have faced. Including, for example, court rulings, ongoing proceedings or investigations, and any other administrative decisions relating to wrongdoings.
Nefco will analyse the information you provide as well as conduct a manual desktop review using third-party sources, such as news databases, legal databases and company registries. Nefco only uses public, legal sources for the IDD. Nefco may follow up with questions to you.