Fines for violations of competition law are substantial and can apply to individuals as well as to companies. Good faith or ignorance will not be considered as a justification or excuse for the violation of competition law.
❯ Fines of up to 10% of Group turnover
❯ Negative impact on the company image and reputation
❯ Any agreement which violates competition rules will be null and void
❯ The company will no longer be able to participate in bids for public sector work
❯ Victims of anticompetitive behaviour can claim damages
❯ Other costs may include litigation costs, business interruption, potential obstacles to business opportunities and acquisitions