Related-party transactions

SRV’s Board of Directors has defined principles for monitoring and assessing related-party transactions within the Group, and these have been included in SRV’s related-party guidelines. The guidelines define SRV’s related parties and stipulate principles and processes for identifying and making decisions on related-party transactions. SRV maintains a register of related parties and has identified ordinary business situations in which related-party transactions may occur. 

Related-party transactions must always be carefully and transparently prepared to ensure that market conditions are met and the transaction is in the best interests of the company. The assessment of whether a transaction meets market conditions and falls within the scope of ordinary business will take into account generally accepted contractual and market practices and the commercial terms and conditions of any comparable agreements with the Company’s customers and other partners. Related-party transactions that meet market conditions and form part of ordinary business must be implemented and approved in accordance with the Company’s internal guidelines. If a transaction does not meet market conditions or form part of ordinary business, the transaction must either be submitted to SRV’s Board of Directors for approval or not be executed. Decision-making must comply with the disqualification provisions laid down in the Limited Liability Companies Act. 

Related-party transactions and their assessment criteria are reported to the Board of Directors’ Audit Committee. The Audit Committee monitors and assesses compliance with principles and procedures for related-party transactions within the Group. SRV regularly reports related-party transactions as part of its financial reporting and publishes related-party transactions as required by the regulations. 

Contact information

SRV head officePostal address:
P.O. BOX 555
FIN-02601 Espoo,

Visiting address:
Derby Business Park,
Tarvonsalmenkatu 15,
FIN-02600 Espoo

020 145 5200

Business ID - 1707186-8
© SRV Yhtiöt Oyj 2024