Foreign Corrupt Practices Act (FCPA), Essay Example

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Words: 368

Essay

The payment of cost associated with Construction Anomalies is considered by some engineers to be a violation of the Foreign Corrupt Practices Act (FCPA).  Discuss arguments for and against FCPA and support your opinion on the matter.

The Foreign Corrupt Practices Act (FCPA) of 1977 was enacted in order to ensure that people or organizations were not allowed to make payments or bribes to foreign entities for the purpose of obtaining or maintaining a business.  Basically, all United States organizations attempting to do business with foreign businesses or markets must follow the FCPA, with the main issue prohibiting corrupt money exchange to foreign officials for business purposes.  There are also 33 other governments that follow the FCPA as well; therefore, this can be considered a global issue.  Since this Act has spread globally, the number of cases not in compliance with this Act should decline; however, there seems to be many loop holes associated with money exchange in businesses.

Some engineers are insinuating that the cost of payment for construction anomalies that occur is a violation of the FCPA.  It seems that these engineers have a valid point.  The FCPA has severe punishment for individuals or companies that use money or bribe in order to obtain business; however, the fact that some individuals and organizations upscale the costs for constructions anomalies is overlooked.  In this case, the engineers are being charged excessive fees in order to comply or fix any anomalies.  Since they are obligated by law for the building to be in compliance, they have no choice but to pay the cost that is associated with the anomalies.  Therefore, even though the companies are not exactly bribing the engineers, they are forcing the payment and profiting and maintaining their own business due to an increase in the marginal price.

Perhaps, the FCPA should update the law to include such provisions. The FCPA is a valid act and enforces companies to comply with the law; however, there are many instances that overlooked and should be lobbied in order to change and update the statute.

Works Referenced

Global World Check.  (2012).  FCPA.  Retrieved on May 30, 2012 from: http://www.fcpa.us/

The United States Department of Justice.  (2012). Retrieved on May 30, 2012 from: http://www.justice.gov/criminal/fraud/fcpa/

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