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MODERN SLAVERY STATEMENT

 

ABOUT THIS POLICY

World of Auctions Group Limited and its subsidiary companies are all committed to conducting their businesses in a socially responsible way. World of Auctions businesses seek to carry out their operations in accordance with appropriate ethical standards and be honest and fair in their relationships with customers and suppliers.  As part of this, World of Auctions is dedicated to ensuring that effective systems and controls are in place to safeguard against modern slavery and human trafficking occurring within our businesses or any of our supply chain.

World of Auctions GROUP SLAVERY AND HUMAN TRAFFICKING STATEMENT

In accordance with the Modern Slavery Act 2015 (“Act”), World of Auctions has published this statement on behalf of its relevant subsidiary companies (“World of Auctions”). This statement sets the steps that members of the World of Auctions Group has taken to prevent modern slavery and human trafficking from occurring within its business and supply chains.

World of Auctions Group Businesses

World of Auctions through its subsidiaries is a leading provider of property services to its key customer groups:

  • Services provided to consumers include real property auctions (buying and selling real property), property management services (lettings management, estate management, and build to rent investment).
  • Services provided include compliance and business advice and provision of certain business services such as marketing material and websites.

World of Auctions’s financial reporting includes six divisions:

  • World of Auctions Limited
  • World of Auctions Learning Centre
  • World of Auctions Social Media
  • World of Auctions Social TV
  • London City Auctions Ltd
  • World of Auctions Property Management Ltd

As at 1st December 2022, World of Auctions Group through its subsidiaries employed circa  20 people across the UK, where its business operations are entirely based.

World of Auctions Group Supply Chains

Members of World of Auctions Group have established direct relationships with a number of primarily UK-based suppliers who deliver a variety of services including: professional services, utilities and telecoms, and facilities management.  As part of its service delivery, members of World of Auctions Group procure services not just for themselves, but also for the benefit of some of the customers of other group companies (for instance, engaging contractors to provide maintenance services to properties managed by the Group).

The vast majority of services are procured via specialist individuals employed or engaged by members of the World of Auctions Group (senior team managers and heads of service).

World of Auctions Group Policies and Contractual Provisions

The approach of members of World of Auctions Group to the promotion of human rights and ethical issues is contained within World of Auctions HR Policies which include but not limited to:

  • Anti-Bribery and Corruption Policy
  • Equal Opportunities Policy
  • Recruitment Policy
  • Whistleblowing Policy
  • Grievance Policy
  • Anti-Bullying and Harassment Policy

The World of Auctions HR policies apply to all individuals employed or engaged by World of Auctions and our subsidiaries.  Employees can use the whistleblowing policy to report  suspected concerns within the World of Auctions  businesses and supply chains.

Since the enactment of the Act members of the World of Auctions  Group have taken steps to seek to ensure that any new agreements with suppliers include an express obligation for suppliers to comply with the Act, to implement due diligence procedures within its own supply chains and notify World of Auctions in the event of any actual or potential incidence of modern slavery (for instance, when contractors sign up on World of Auctions Property Management’s portal they agree to terms which require them to comply with the Act). In the event of a breach of these provisions, members of World of Auctions Group will seek to resolve any issues with its suppliers and it may also seek to terminate the relationship with the supplier where a resolution is not achieved. This provision is regularly reviewed, and relevant amendments made.

World of Auctions Group Due Diligence

Members of the World of Auctions Group have identified our supply chains as the main area of risk and exposure to modern slavery.

The suppliers used by World of Auctions Group have been identified as low risk. The suppliers which provide manufactured goods to World of Auctions Group are very few, limited to marketing and advertising providers (providing banners, posters etc), and facilities providers (providing toiletries, vending machine and drink machine products etc.) Other suppliers to World of Auctions Group mainly provide in-person services, such as maintenance services and recruitment services. Contractors used by World of Auctions pass through an on-boarding process, which includes terms requiring them to comply with the Act and provide a copy of their modern slavery statement where requested.

World of Auctions Group Areas of Risk

Overall exposure to modern slavery for members of the World of Auctions Group is lower than other sectors given the nature of the property services sector in which our businesses operate, the types of services we procure and the fact that our business operations and those of the majority of our suppliers are primarily based in the UK.

Notwithstanding the above, World of Auctions Group is not complacent and understands that the procurement of recruitment and facilities services and the use of subcontractors are practices which may bring about increased risks of modern slavery within supply chains.

Accordingly, World of Auctions is taking steps to mitigate such risks, including:

  • Requiring suppliers to implement due diligence procedures for its own suppliers and subcontractors.
  • Having in place stringent checks on our recruitment agencies and ensuring our own internal recruitment processes meet the minimum legal requirement.

As part of this, World of Auctions  Group  complies  with  all  relevant  legislation  including  the Immigration, Asylum and Nationality Act 2006 and ensures that all appropriate checks are carried out to maintain compliance. If further risks are identified, World of Auctions Group will consider such risks and take appropriate steps to address any emerging risks.

World of Auctions Group Training

World of Auctions Group understand the importance of training employees to enable them to be able to identify risks of modern slavery. World of Auctions Group employees receive information that allows them to understand the requirements under the Act in the form of this policy. They also receive our whistleblowing policy, which would allow them to raise concerns anonymously.

KPI Monitoring

The World of Auctions Board appreciates that the approach to combatting modern slavery will have to adapt over time in response to findings following the completion of various risk assessments.