THE CHARTER OF BEARINGCODE
*BEARING INDUSTRY CODE OF CONDUCT
*BEARING INDUSTRY CORPORATE GOVERNANCE
*BEARINGCODE EDUCATION AND COMMERCE
Bearingcode* is the NGO Bearing Industry governance offering membership to Companies who comply with corporate transparency to manufacture and or market bearings in a legal manner clearly indicating the Country of Origin, Manufacturer and Description.
Compliance with the Corporations Act include PWC guidelines relating to executives fiduciary duties. Due to recent legal proceedings within the Industry, it would be appropriate for companies to display a greater transparency with their respective clients by joining the Bearingcode* as an accredited member. Memberships are open to all sectors, both inside & outside of bearings and those seeking redemption
Bearingcode* is impartial, reports on events, news items, legal matters or otherwise about the global bearing industry but does not necessarily endorse commercial statements. US State Department deputy spokeswoman Marie Harf stated: an open marketplace of ideas, transparent and accountable governance, given equal treatment under the law and the ability to exercise rights without fear of retribution
Bearing Industry Code of Conduct Statement
In the year 1888 or thereabouts, the humble steel Bearing was first invented and claimed by Germany's Friedrich Fischer branded FAG
Although bearing manufacturers will differ, there has been no major changes in basic design, gaining this mechanical device to become one of the oldest and important Industries globally.
The success of Bearing trading has assisted every industry from bicycle to cars, trains to planes, educational programs from High school to Universities and for various government operations in critical defense requirements to name a few.
More recently, government legal authorities have demanded industry to adhere to strict codes of conduct for corporate governence with compliance, behaviour and transparency. This new course of action or conduct regulation, is to prevent corporate crime, ensuring public comfort that these procedures are active and policed concurrently within the Bearing Industry.
Today, the humble Bearing is witnessing a difficult & distressing period with various civil & criminal legal action against our Bearing manufacturers globally. Throughout these legal proceedings, the Bearing Industry will not alter the excellent quality given to customers throughout the world, however some bearing administrators may change.
Changes to the Code of Corporate Governance
A. F. FERGUSON & CO. is a member firm of PricewaterhouseCoopers International Limited, each member firm of which is a separate legal entity.