Standard in Gold UAB adheres to the provisions of Regulation (EU) 2017/821 of the European Parliament and of the Council of May 17, 2017 laying down obligations to fulfill the due diligence obligations in the supply chain for Union importers of tin, tantalum, tungsten, their ores and gold from conflict and high-risk areas, as well as, in this context, the standards defined in Annex II of the OECD Due Diligence Guidance ("Guidelines for the fulfillment of due diligence obligations to promote responsible supply chains for minerals from conflict and high-risk areas").
For this reason, Standard in Gold UAB sources gold exclusively from LBMA-certified suppliers (refineries), who are obliged to introduce strict guidelines for social, ethical and environmentally friendly practices along the value chain and to guarantee the protection of human rights. Third-party audits regarding sources of supply and conflict mineral management are available for all of our suppliers in accordance with Article 5 Paragraph 4 in conjunction with Article 6 of the Ordinance.
For this reason, Standard in Gold UAB sources gold exclusively from LBMA-certified suppliers (refineries), who are obliged to introduce strict guidelines for social, ethical and environmentally friendly practices along the value chain and to guarantee the protection of human rights. Third-party audits regarding sources of supply and conflict mineral management are available for all of our suppliers in accordance with Article 5 Paragraph 4 in conjunction with Article 6 of the Ordinance.
In order to identify and assess risks along the supply chain, suppliers and materials are continuously monitored to determine whether they are involved in or contributed to conflicts or their negative effects. In addition, the Good Delivery List status or status as an LBMA member is checked before each order (= subsequent import).
If violations or risks are identified, immediate measures are taken to contain or avoid risks. Depending on the risk assessment and the success of any measures taken, business relationships will be suspended or, if necessary, terminated.
Any violations of supply chain policy, ethical concerns or complaints can be reported confidentially to our compliance office (p.asevicius@gmail.com).
This policy is validated annually for timeliness and appropriateness and adjusted if necessary.