Home → Sanctions compliance policy – AEROAFFAIRES

Sanctions compliance policy – AEROAFFAIRES

Sanctions compliance policy – AEROAFFAIRES

Renting private jets
since 1991

20 000
private jets

45 000
completed flights

120 000+
passengers

4,9/5
customer satisfaction

100%
carbon offsetting

Introduction to the sanctions compliance policy

AEROAFFAIRES is committed to complying with laws and legislation relating to trade and economic sanctions in all jurisdictions in which it operates. Insofar as they may apply to its activities, it identifies, mitigates and manages all risks of sanctions violations, whether primary or secondary.

In this Sanctions Compliance Policy, “AEROAFFAIRES” refers to a SAS based in Paris.

Scope of the Sanctions Compliance Policy

This policy applies to :

  • All officers, employees, personnel and directors under contract to AEROAFFAIRES, as well as any other person designated by AEROAFFAIRES (each referred to as an “employee”).
  • All legal and natural persons (and their officers, employees and directors) who provide services for or on behalf of AEROAFFAIRES, including: supply chain trading partners, suppliers, consultants, contractors, distributors and sales agents (each an “Associated Person”).

As a condition of doing business with AEROAFFAIRES, the Company requires each Associate to agree to the incorporation of this Policy into the Associate’ s contract with AEROAFFAIRES.

Agreements and contracts between AEROAFFAIRES and Associates may contain specific provisions dealing with some of the issues raised in this Policy. It should be noted that nothing in this policy replaces a more specific provision or measure in a particular contract or agreement between AEROAFFAIRES and an associate. If there is any inconsistency between this Sanctions Compliance Policy and any other provisions of a particular agreement or contract, the agreement or contract shall prevail.

This policy supplements but does not replace other codes of conduct, policies, rules and procedures of AEROAFFAIRES applicable to associates and employees. In case of doubt, if an associate or employee notices an inconsistency or conflict between this policy and any other codes, regulations, policies of AEROAFFAIRES, that person should raise the matter at AEROAFFAIRES. The individual may seek advice from AEROAFFAIRES ‘s Ethics and Compliance Department by sending an e-mail to: compliance@aeroaffaires.com. This policy is a statement of principles and expectations regarding personal and professional behavior. It is not intended to be, nor does it constitute, a contract, employment agreement or representation of continued employment, nor does it authorize employees or related parties to do so. The application and interpretation of this policy is the sole responsibility of AEROAFFAIRES. This policy creates rights in favor of AEROAFFAIRES only. The headings contained in this policy are for illustrative purposes only and are not to be construed as limiting or otherwise influencing the provisions of this policy. In the event of any conflict between this policy and the applicable governing law, the applicable governing law shall prevail.

Sanctions and prohibited practices

This policy defines AEROAFFAIRES’ approach to identifying and managing the risks associated with sanctions, including :

  • Guidance on the meaning of sanctions and how to comply with them.
  • The principles and practices followed by AEROAFFAIRES to comply with sanctions laws and to identify, mitigate and manage sanctions-related risks in the jurisdictions in which it operates.
  • Consequences of non-compliance with this policy.

This policy applies to all countries and/or jurisdictions in which AEROAFFAIRES operates and extends to all other countries and/or jurisdictions where AEROAFFAIRES commences operations and/or is registered under active license or subscription.

What the sanctions mean and how to comply

Sanctions are laws and regulations enacted by governments (such as the United States (U.S.) government), international organizations (such as the United Nations (U.N.) and supranational bodies (such as the European Union (E.U.)) to promote foreign policy and other objectives, which include:

  • Limiting the negative consequences of an international situation (e.g., by denying access to military goods, technologies or financing that promote international terrorism or the proliferation of weapons of mass destruction).
  • Attempt to influence third parties or governments with a view to changing their behavior.
  • Penalize other people/entities.

Sanctions must discourage all kinds of nefarious activities, such as political or military aggression, the provision of sanctuary for criminals/terrorists, the development of nuclear weapons programs, and human rights violations.

These sanctions are implemented to prohibit companies and individuals from doing business with the persons, entities, countries and governments that are the targets of the sanctions. These restrictions may include :

  • Bans on exports, imports and the provision of specific services.
  • Prohibition of certain business activities.
  • A ban on the transfer of funds to or from a sanctioned country.
  • Targeted financial sanctions, including freezing the assets of a government, country or territory, as well as targeted entities and individuals, and prohibiting all transactions with them.
  • Travel bans.
  • Financial restrictions.

One method of imposing sanctions is to designate a country, territory, government, individual or entity as the target of sanctions. For example, the United States publishes a list of Specially Designated Nationals (SDNs), which includes individuals and organizations. In general, persons subject to US jurisdiction must freeze all SDN assets in their possession or control, and must not have any relationship with, or provide any service to, SDN. The US also imposes economic sanctions and embargoes targeting specific geographic areas and governments. Some programs are global in nature, blocking governments and including wide-ranging trade restrictions, while others target specific individuals and organizations. In non-global systems, there may be broad prohibitions on doing business with countries and also against specifically named individuals and organizations. Most sanctions regimes prohibit actions taken to circumvent existing sanctions or to facilitate the activities of another individual or entity likely to violate sanctions. Employees and associates must take care not to inadvertently violate sanctions by facilitating or negotiating a transaction that would be prohibited if conducted by AEROAFFAIRES. Employees and associates may not facilitate, transact, approve, finance or negotiate any transaction or activity that would be prohibited if conducted by AEROAFFAIRES. The prohibition also includes referring a foreign national to business opportunities related to any country under global sanctions or any person on the SDN list. Example: If an employee or related person introduces a person from a sanctioned country (who is prohibited from doing business under the applicable sanctions) to a foreign national for the purpose of facilitating or promoting a business opportunity, the employee or related person would be in violation of the “facilitation” provision of the sanctions. Also, some sanctions regimes are extraterritorial, so that they can be extended to persons abroad who cause a person in the country to violate the sanctions, such as by removing RDS identification information from the money transfer or other commercial documents, so that a domestic person cannot properly review the transaction for sanctions violations.

AEROAFFAIRES’ principles and measures for sanctions compliance

Key principles

The following key principles govern AEROAFFAIRES’ approach to sanctions and controls. All the requirements of these regulations must be taken into account. In the event of any dispute between the principles and the requirements, the principles will prevail.

  • AEROAFFAIRES maintains a sanctions policy to meet the obligations of the sanctions regimes of the jurisdictions in which it operates, is registered and/or licensed.
  • AEROAFFAIRES complies with the requirements of the US, UN and EU sanctions regimes (as they apply to its activities) wherever it operates and will not conduct any activities that violate these sanctions regimes.
  • In addition to complying with the requirements of the US, UN and EU sanctions regimes (as they apply to its activities), AEROAFFAIRES complies with other sanctions regimes as they apply to specific AEROAFFAIRES activities and will not undertake any activity that violates these sanctions regimes.
  • AEROAFFAIRES will also take into account sanctions regimes imposed by other jurisdictions where the facts of the transaction are justified.
  • AEROAFFAIRES may decide not to provide a product or service, even to the extent permitted by law, when circumstances threaten its reputation.
  • AEROAFFAIRES will not undertake any activity that would violate export laws applicable to it.

Measures taken by AEROAFFAIRES to comply with sanctions

Before entering into a business relationship or transaction, AEROAFFAIRES ensures that these relationships and transactions comply with sanctions legislation applicable to the United States, the United Nations and the European Union. At the same time, we check that these persons or entities are on the SDN list and other relevant sanctions.

AEROAFFAIRES must verify that its transactions do not violate certain sanctions specific to each country. The degree of screening and due diligence carried out depends on the risk profile of the particular relationship or transaction, with increased screening and due diligence where risk is higher. For example, when a relationship or transaction with an internationally recognized person or company in one or more countries is not sanctioned, a lower level of due diligence may apply.

Conversely, when a relationship or transaction is entered into with a person or company located in a high-risk jurisdiction, additional due diligence is required. As part of this control, AEROAFFAIRES may rely on information provided by its customers, passengers and business partners, unless it is known or suspected that these customers and business partners, or the information provided, are unreliable or dishonest, or that they are affiliated with a high-risk jurisdiction.

AEROAFFAIRES also requires passengers to contractually agree to ensure that AEROAFFAIRES does not transport baggage or cargo in violation of applicable export control laws. For example, the United States controls exports of sensitive equipment, software and technology to advance U.S. national security interests and foreign policy objectives.

The contract with the Related Person must include provisions (i) stating that the Related Person itself is not an SDN nor subject or liable to sanctions; (ii) requiring compliance with U.S. law, (ii) requiring compliance with U.S., UN and EU sanctions laws and this Policy, (iii) requiring that the persons involved not engage in any commercial activity or failure to facilitate such activity could cause AEROAFFAIRES to violate any applicable punitive obligation ; and (iv) authorize AEROAFFAIRES to terminate the contract if the person concerned breaches his or her contract with AEROAFFAIRES or this policy, becomes an SDN or is sanctioned.

Neither AEROAFFAIRES nor any employee may enter into any commercial relationship or transaction involving directly or indirectly:

  • Countries subject to or targeted by sanctions.
  • Nationals of sanctioned countries.

Unless the proposed business relationship or transaction has been reviewed and approved in accordance with the sanctions review systems and procedures implemented by AEROAFFAIRES. For greater certainty, the fact that a country is a sanctioned country, or that a person is a national of a sanctioned country, does not automatically mean that AEROAFFAIRES or its employees may not enter into a business relationship.

If in doubt, always seek the advice of AEROAFFAIRES ‘ s Compliance Officer(compliance@aeroaffaires.com) or Chief Legal Counsel or COO/Manager without delay. From time to time, affected employees will be informed of sanctioned countries via AEROAFFAIRES. As sanctions programs are dynamic and constantly evolving, sanctioned countries can change rapidly; AEROAFFAIRES regularly reviews US, UN and EU sanctions policies and may update the list of sanctioned countries from time to time. The person concerned must also ensure that he or she does not enter into any business relationship or transaction directly or indirectly involving sanctioned or target countries and their nationals, unless the business relationship or transaction has been reviewed and authorized. In accordance with applicable review procedures and the procedures implemented by each person involved. Affiliates must always have systems, processes, policies and procedures in place to ensure compliance with these rules. If there is any doubt that an associated person’ s business relationship or transaction is in breach of this policy, the associated person should inform AEROAFFAIRES as soon as possible.

For the sake of clarity and for the avoidance of doubt :

  • All business relationships and transactions, direct or indirect, involving sanctioned countries and nationals of sanctioned countries must be immediately cancelled and/or not pursued until they are reviewed and cleared to act in accordance with AEROAFFAIRES’ applicable sanctions review systems, processes and procedures implemented by AEROAFFAIRES from time to time.
  • Business relationships and transactions with persons not on a list of specially designated nationals may nevertheless be prohibited if such business relationship or transaction directly or indirectly involves sanctioned countries and nationals of sanctioned countries. In such cases, business relationships and transactions must also be immediately cancelled and/or not be pursued until they are reviewed and cleared to act in accordance with AEROAFFAIRES’ applicable sanctions control systems, processes and procedures that are implemented by AEROAFFAIRES from time to time.

Employees and associated persons shall not facilitate the activities of any person, including customers and passengers, involving sanctioned countries or nationals of sanctioned countries, including by referring such matters to other persons or entities.

Countries with which AEROAFFAIRES operates to limit risks

AEROAFFAIRES operates with countries, selecting according to the nation’s precautionary/dangerousness criteria. AEROAFFAIRES uses the Travel Advisories provided by travel.state.gov. AEROAFFAIRES selects according to the ranking and information provided by Travel State for each country. The company operates with nations classified in levels 1 and 2. It does not operate with nations classified as level 3 and 4 risk, and therefore limits the risks.

The classification is as follows:

  • Level 1: Take normal precautions
  • Level 2: Exercise increased caution
  • Level 3: Reconsider travel
  • Level 4: Do not travel

Obligations for all employees and related persons

Employees and associates must read and apply this policy and ensure that they comply with it.

The relevant units and/or departments of AEROAFFAIRES that deal with customers, passengers, suppliers and other partners (or business partners) must screen and pre-screen each entity and actor. If you have any doubts about due diligence concerning such a person or entity, please contact the AEROAFFAIRES compliance department or the person in charge by e-mail.

No employee or related person shall act to avoid the obligations associated with the punishment or discovery of a relationship or transaction that violates this policy.

AEROAFFAIRESin addition to the foregoing, its employees and stakeholders may not advise customers or others on how transactions may be conducted, structured or presented in order to circumvent applicable sanctions or policies. This includes, but is not limited to, advising customers, passengers or other entities to alter information or documents to include false or misleading facts, to omit accurate information, or to alter, delete or omit information from the transaction or any business record that could help identify a sanctions concern.

Employees and related entities may be subject to sanctions laws applicable to both the country or nation in which they live and work. Also of the country or countries of which they are citizens, permanent residents or visa holders. Moreover, being present in a single country, even for a short period, often requires the employee or person concerned to comply with the laws of that country when entering or transiting through it. It is the responsibility of every employee and related person to understand and comply with their obligations with regard to sanctions, either as a citizen of a particular country, or because of their presence in a particular nation.

Requests concerning specific cases should be addressed directly to AEROAFFAIRES compliance@aeroaffaires.com. Depending on the case, AEROAFFAIRES may require the employee or person concerned to adhere to certain practices in order to ensure that all parties comply with applicable sanctions.

Consequences of non-compliance with sanctions

Failure to comply with punitive laws would constitute a violation of legal and/or regulatory requirements and could expose AEROAFFAIRES to reputational damage, legal and regulatory action and financial loss, and could subject the individual employee or persons involved in any of the violations. to substantial fines and imprisonment. AEROAFFAIRES takes a zero-tolerance approach to intentional violations of this policy or applicable sanction regimes.

If employees fail to comply with this policy, they may be subject to disciplinary action up to and including dismissal. Disciplinary measures will depend on the circumstances of the violation and will be applied in a manner consistent with AEROAFFAIRES policies.

In addition, employees who violate the law in the work process may be subject to criminal and civil liability. AEROAFFAIRES may terminate a business relationship with an Affiliate by written notice of any kind or nature in favor of the Registrant relating to the foregoing. Contributor fails to comply with any provision of this policy and fails (if such violation is remediable) to remedy such violation within 10 days of the date of written notification of such violation to Contributor.

Audit, reviews and questions

Each person connected free of charge to AEROAFFAIRES, provides access (subject to appropriate notice from AEROAFFAIRES) to all related documents, records, systems, processes, policies and procedures to enable AEROAFFAIRES (or a third party professional representative) to inspect and verify Contributor’ s compliance with this Policy. If an audit reveals that Affiliate has violated this Policy, Affiliate shall, without delay, take the necessary corrective action (if the violation is correctable) as determined by AEROAFFAIRES.

AEROAFFAIRES will unilaterally and regularly review this Policy, at its sole discretion, and make any necessary or appropriate changes. From time to time, AEROAFFAIRES may also issue advertisements, guidelines and memoranda to supplement this Policy. The most current version of this Policy will be available at all times online on this page, as well as on AEROAFFAIRES ‘s internal online system as in effect from time to time and for all accessible to all employees. It is the responsibility of employees and stakeholders to access these online systems and to review the latest version of this Policy and all programs, directives and memoranda from time to time. As sanction regimes are subject to rapid change without notice, AEROAFFAIRES may update this policy at any time. If you have any queries or questions about this policy, AEROAFFAIRES can be contacted at compliance@aeroaffaires.com.

Reporting policy violations

AEROAFFAIRES is fully committed to developing a culture of free speech. This means that employees and associates can express themselves freely and openly if something is wrong or needs to be corrected. Employees and associates should feel comfortable expressing their views, opinions, asking questions, reporting problems, expressing their feelings or reporting perceived violations of this policy. If anyone witnesses violations (suspected or actual) of this policy, or if the person becomes aware that AEROAFFAIRES or a third party has engaged in a transaction prohibited by these sanctions, he or she should report such concerns promptly following the reporting procedure (available online on this page).

Policy confirmation

If requested by AEROAFFAIRES, employees and associated persons must individually confirm in writing to the company that they have read this policy and agree to abide by it.