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FCPA Blog Daily News

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Friday
Nov102017

World Bank debars Canadian software company

The World Bank Group debarred an Ottawa-based software provider for "sanctionable misconduct" under a contract for a management information system project in Liberia.

FreeBalance, Inc. failed to disclose the identity and payment terms of a local agent in Liberia, the World Bank said Thursday.

The company didn't contest the World Bank's findings.

The six-month debarment was part of a Negotiated Resolution Agreement (NRA).

The World Bank said it reduced the debarment from 12 months because the company took "voluntary corrective and remedial actions."

After the initial debarment, FreeBalance will serve up to 12 months on "conditional non-debarment." During conditional non-debarment, it can participate in World Bank-financed projects if it complies with its obligations under the NRA, the World Bank said.

The NRA requires the software firm to enhance its existing integrity compliance program and "continue to fully cooperate" with the World Bank Group Integrity Vice Presidency.

A list of all World Bank debarred entities and individuals is here.

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Richard L. Cassin is the publisher and editor of the FCPA Blog.