Define: Passive corruption

How is Passive corruption defined in a legal contract?

• Passive corruption means the intentional act of an official, directly or via an intermediary, who requests or accepts benefits of any nature for themselves or a third party, or agrees to a promise of such advantage, to behave or abstain from acting according to their duty or in carrying out their roles in violation of their formal duties in a way which harms, or has the potential to harm, financial interests.
  Seen in 54 SEC filings.
• Passive corruption means the conduct referred to in [article] of [the protocol].
  Seen in 4 SEC filings.
• Passive corruption means the deliberate action of an official who, directly or through an intermediary, requests or receives benefits of any kind, for themselves or a third party, or accepts a promise for such an advantage, to act or refrain from acting according to their duty, or in carrying out their roles in breach of their official duties in a way that damages or is likely to damage the financial interests.
  Seen in 1 SEC filing.
• Passive corruption means the act of obtaining, directly or indirectly, the same type of advantage with the same intent from a third party.
  Seen in 1 SEC filing.
• Passive corruption means the conduct referred to in [article] of [the protocol] drawn up on the basis of the [Treaty on European Union] to the convention on the protection of the [European Communities]’ financial interests, of a certain [date].
  Seen in 1 SEC filing.

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for ‘Definitions of passive corruption’ yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

Passive corruption means an official, directly or indirectly, soliciting or accepting benefits, violating their duty, affecting financial interests.

Relevant Contract Types

• Employment Contracts
• Anti-Bribery Agreement
• Consulting Agreement
• Vendor Agreement
• Non-Disclosure Agreement

Relevant Circumstances

• Hiring personnel for roles involving substantial discretion in decision making.
• Establishing terms and conditions for consultants or vendors.
• In cases involving sensitive trade secrets, intellectual property, or other proprietary information.

Relevant Sectors

• Financial Services
• Healthcare
• Government
• Non-Profit Organisations
• Manufacturing

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Genie Definition 2

Passive corruption means participating in specific conduct mentioned under a certain [protocol] or [article].

Relevant Contract Types

• Compliance Agreement
• Joint Venture Agreement
• Partnership Agreement

Relevant Circumstances

• Collaborating with other businesses or individuals on specific projects.
• Operating in highly regulated fields or sectors.
• Establishing code of conduct for partners, directors, employees.

Relevant Sectors

• Legal Services
• Engineering
• Education
• Manufacturing
• Technology

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