The OECD Guidelines For Multinational Companies And The Specific Instance

Author:Canosa Abogados
Profession:Canosa Abogados
 
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For over 20 years the Argentine Republic has adhered to the "OECD Guidelines for Multinational Companies" ("Guidelines"), through the "Declaration on International Investments and Multinational Companies" of the Organization for Economic Cooperation and Development ("OECD").

The OECD adopted two tools for the realization of its aims: the Guidelines and the Specific Instance Procedure for dispute resolution ("Specific Instance").

The Guidelines:

The guidelines are indications of "Soft law". They have no legal force. These are recommendations that the OECD advises a company to incorporate into its internal "regulations". Multinational companies are urged to contribute to economic, social and environmental progress, to cooperate with public authorities and to respect Human Rights.

These principles are developed in "Specific Recommendations" that deal with the following topics:

Advertising of Company Information, according to the principles of transparency and responsibility; Recognition and respect for Human Rights; Respect for Workers' Rights; Environmental Protection contributing to sustainable development; Fight against corruption, bribery requests and other forms of extortion; Ensure the interests of consumers through reliable and quality goods and services and following fair marketing practices; Promotion of Science and Technology and local innovative capacity; Refrain from carrying out activities that may have anticompetitive effects; Contribution to the public finances of the countries where they register their activities punctually fulfilling their tax obligations. The Specific Instance:

The guidelines provide that states adhering to the Guidelines should implement and promote their use and establish "National Point of Contact" ("NPC"). They also establish a "Specific Instance" for a case or complaint about the breach of the Guidelines by a company. It is the instrument that stakeholders use to address practices that have affected them, and seek solutions by...

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