New Rules Established for Compliance with Pemex Contracts
The new "General Rules for Contracts with Petróleos Mexicanos and its Subsidiary Companies" was enacted and published in the Mexican Official Gazette on May 18, 2018.
The new rules include a chapter on integrity in contracts, setting forth obligations for service providers, contractors, clients, strategic partners and in general to all third parties interested in executing a contract with Petróleos Mexicanos (Pemex), for adopting the Pemex Compliance Program and the obligation of all third parties to have compliance programs of their own. In the event a third party does not have a compliance program in place, the third party should work under the Pemex Compliance Program but still has the obligation of implementing its own compliance program.
It is important for all companies who have any kind of contractual relationship with Pemex or its subsidiaries to have a compliance program in place.
For questions or assistance in implementing a compliance program, contact the authors or Holland & Knight's Mexico City office.
Information contained in this alert is for the general education and knowledge of our readers. It is not designed to be, and should not be used as, the sole source of information when analyzing and resolving a legal problem. Moreover, the laws of each jurisdiction are different and are constantly changing. If you have specific questions regarding a particular fact situation, we urge you to consult competent legal counsel.