The Company complies with a set of key conditions and requirements when engaging external service providers. This includes defining the scope and limits of activities that may be outsourced and placing appropriate restrictions on the volume and level of tasks assigned to the same service provider. The Company also requires that all outsourcing arrangements be governed by clear written contracts that define the rights and responsibilities of all parties, while ensuring the confidentiality of information and non-disclosure obligationsonly with the needed prior approval. Furthermore, the Board of Directors and Senior Executive Management take into consideration, when entering into or modifying such arrangements, the potential impact on the Company’s risk profile and business continuity. They also assess the service provider’s governance framework, risk management practices, internal controls, compliance with applicable laws and regulations, as well as their financial capacity and sustainability. The Company ensures that appropriate succession plans are in place to allow for a smooth transition in case of termination or change of the service provider, while also verifying the provider’s expertise, knowledge, and capabilities. These arrangements are subject to periodic reviews, with Senior Management receiving regular reports on outsourced activities and escalating them to the Board of Directors when necessary.
