Code of Ethics of Bulgarian – Nordic Chamber of Commerce


Bulgarian-Nordic Chamber of Commerce shall operate to the benefit of enterprises incorporated in the countries in the Nordic region and Republic of Bulgaria. This Code of Ethics has been the guide in creating a professional and ethical business atmosphere through confidence and trust towards its members and partners. Our organization shall enforce a zero tolerance policy towards corruption, and shall encourage open and responsible business partnerships. Clarity, transparency and trustworthiness are important constituents of Nordic’s reputation.

Nordic” is a guarantee for quality, honesty and good business partnership and these principles are incorporated in the present Code of Ethics. For everyone at BNCC this Code of Ethics has been a mandatory condition for membership.


Art. 1. Each member of the Organization shall operate its activities in accordance with the Laws in force in Bulgaria and Statutes of the BNCC. In addition each member neither will accept nor offer any form of bribery or improper use of personal relations in conducting its business.

Art. 2. The principles of ethics in business activities correspond to the good customs of internal and international business relations built on good faith, correct relations, loyalty and accuracy.


Art. 3. It is imperative that no information concerning any business deals between two or more member companies be uncovered to third parties before finishing the deal, unless all parties involved in the business negotiations have explicitly wished to reveal this information to all other members of the BNCC.

Art. 4. Companies shall not undertake obligations which in principle cannot be fulfilled by them. If a member of BNCC receives a business opportunity that is beyond his powers or competence, it is obliged to forward it to another appropriate member. Only in case of no member company being able to accept the opportunity should non-member parties be involved in it.


Art. 5. (1) The business subjects shall observe the principles of mutuality, including the right of mutually determined benefits from the performed activities.

(2) The failure of a specific business subject to observe the principles of ethics in business activities shall not free the remaining business subjects from their obligation to observe these principles to the same subject.

Art. 6. Every business subject shall take part in negotiations with its counterparts observing the good tone, in compliance with the generally accepted principles and forms of correct relations, paying due respect to its partners without any manifestation of inadmissible aggressiveness.

Art. 7. (1) In case of dispute, the parties shall show goodwill for their resolution by means of negotiations, by voluntary agreement as well as for the comprehensive factual clarification of disputes in Court or in arbitration.

(2) The use of such methods for implementation of concluded deals which contradict to good customs and ethics is incorrect.

Art. 8. Ethics in business activities demands the observation of the principles of free and fair competition and the treatment on equal par of all participants in the business life.


Art. 9. The respect of customers’ rights and the satisfaction of their needs is an indicator for the public reputation of every business subject.


Art. 10. Bulgarian - Nordic Chamber of Commerce considers the establishment of a stable and prosperous international business environment a main priority. To achieve this, BNCC encourages the businesses to fully embrace this Code of Ethics.

Art. 11. The observing of this Code of Ethics by the members of BNCC is mandatory, while non-member companies may choose whether to respect its provisions.

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