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Teleworking Regulations to Continue Business in Ecuador

Teleworking Regulations to Continue Business in Ecuador

Teleworking has become a reality for Ecuadorians during the Covid-19 outbreak. However, it is also part of the regulatory framework supervised by the Ministry of Labour of Ecuador, defining teleworking as "the provision of legal and personal services, in a dependent relationship, of a non-present nature, during ordinary or special working days, outside the facilities of the place where the worker works". We describe Ecuador's new teleworking regulations established by the government to continue doing business in the country. Teleworking in Ecuador Teleworking is one of the measures implented during Covid-19 outbreak. It is important to consider that, in a country like Ecuador, many people still live from the profits obtained from informal jobs such as street sales or stalls in the food market. For this reason, the reactivation of the economy is a priority for Ecuador's government. While ensuring the implementation of all precautionary measures to stop the spread of Coronavirus - including teleworking - the country began with the reactivation of its economy since mid-May. However, many people living in the urban areas of Ecuador are still working from home. Reactivation of labour activities in Ecuador Since June 2020, Quito, the capital of Ecuador and the city where all main national and international companies operate, took the next step in the reactivation of its economic activities as a city. The government authorized citizens to stay out of their homes until 9pm, allowing companies to resume their work activities. Likewise, the local government emphasizes the...

Manage Your Business Risks With Due Diligence in Bolivia

Manage Your Business Risks With Due Diligence in Bolivia

Due diligence in Bolivia is the best way to ensure the safety and security of your business operations in the country. Future business executives should be aware of the challenges they may face when doing business in Bolivia, such as the local legislation, market behavior, and appropriate risk management. Undertaking due diligence processes will significantly improve your ability to make informed decisions when doing business in Bolivia. These processes provide business owners with critical information about companies and partners, including an extensive analysis of financial, legal, labor information, or even environmental practices. Carrying out due diligence will significantly improve your possibilities of making better decisions when doing business in Bolivia. Understanding due diligence in Bolivia Processes for due diligence in Bolivia for market entrants include in-depth investigations to analyze the profitability of expanding a new business. Collected information helps to evaluate the risks that executives may face. A local third party can carry out the appropriate market research to give comprehensive and knowledgeable feedback to the company. Both parties can operate under a confidentiality and exclusivity agreement to undertake this work. With the information gathered from due diligence research, executives can understand potential strategies, liabilities and contingencies to enter the market. Why is due diligence important in Bolivia? Bolivia’s economy has grown considerably in the last few years due to the extraction and export of natural gas, silver, zinc,...

The Equifax Leak in Argentina: What You Need to Know

The Equifax Leak in Argentina: What You Need to Know

Credit reporting agency Equifax has been dealing with the fallout of a massive information leak in the past few months. The leak contains the private credit data and personal information of approximately 143 million Americans, and an undisclosed number of others worldwide. One of the more egregious areas of the leak is in Equifax’s Argentine employee portal Veraz and its web tool called Ayuda. This web application was poorly guarded with insecure passwords and contained the details of thousands of credit inquiries made by Argentinian customers challenging parts of their credit reports. These inquiries and the information they contain include everything from personal financial data to government identification details and leave those whose information has been exposed openly to fraud and identity theft. For those who travel or do business in Argentina, or are worried their details might be at risk, it is important to understand the details of the information leak, and what steps to take next. What Does the Leak Entail? Equifax holds data on over 820 million customers, as well as 91 million businesses. It provides credit reporting, employment verification, and identity theft monitoring services. Veraz, an online portal for employees of the Argentine branch of Equifax, was a tool that employees used to access customer information and investigate credit report challenges. Credit report challenges are a relatively common process where someone has either a fraudulent or uncharacteristic payment on their credit history that is damaging their credit score and report either the...

Due Diligence Services: Managing Business Risk in Latin America

Due Diligence Services: Managing Business Risk in Latin America

Although the region is growing, one cannot ignore the corruption that keeps profits from falling into the right hands. With shocking statistics like tax evasion numbers totaling USD $340 billion in 2015, corruption tends to find its ways in all areas of the different sectors of Latin America. When considering evidence of government theft and sketchy business dealings, it is important to be proactive when conducting business in the region. If you read our recent article on due diligence and why it matters in Latin America, you will find relevant information about why it is important to take preventive measures when doing business in Latin America. Not only from a legal point of view does due diligence minimize risk, but from an ethical perspective your care in doing business will benefit you and others in the long run. To help you understand the different kinds of due diligence and business intelligence services available to you while you do business in Latin America, we have created a list of the services you should seek out in order to protect yourself and your company. Due Diligence and Business Intelligence Services  Polygraph Service What is is: Also known as a lie detector, it is a more or less effective way of determining whether someone is lying or not. Heart rate increase and body language help define whether the subject is truthful. Why is it needed? For companies or private individuals wanting to find out the truth. This can range from being a way to find a culprit as well as a tool which can be used to dissuade dishonesty. Due diligence What is it? It is a...

Why Due Diligence Matters in Latin America

Why Due Diligence Matters in Latin America

Due Diligence Latin America: From the tip of South America in Argentina, all the way through to Mexico, corruption and bribery have long been of huge concern for Latin Americans. Recent whistle-blower reforms in Argentina, the public denouncement of football match fixing in El Salvador and increases in tax revenues in Mexico are all examples of how Latin America is starting to crack down on the culture of corruption. Despite recent improvements and reforms across countries such as Mexico, Argentina, and Brazil, the corruption has deep roots spanning the entire region- especially prevalent in government, corporations and law enforcement agencies. This article will outline why corruption is hard to get rid of in Latin America and where some of that corruption lies, but more importantly, it will highlight why due diligence is vital for business success in Latin America.    Due Diligence - The Need for More Whistle Blowers in Latin America Among corrupt officials, tax evasion and corporate bribery, local communities need to start being more proactive in decreasing corruption. With much of the corruption occurring on a corporate and government level, it is no surprise that whistle-blowers are not taken seriously. The influential power these organisations make it difficult for regular citizens to play a part in tipping off corruptive acts in their countries. The stigma and social pressures against whistle-blowing keep corruption deeply entrenched in the culture of Latin America.   However, despite the lack of urgency, change is occurring in policy in order to mitigate Latin...

7 Essential Colombian Background Check Services

7 Essential Colombian Background Check Services

In order to make informed employment decisions, many companies perform background checks on potential employees in order to minimize risks and verify the candidate’s experience. There are several background checks in Colombia that companies can perform during their recruitment processes. Many foreign companies employee the services of a professional company to carry out these activities and other security-related services. Background Checks in Colombia - Previous Employment Verification The most commonly used method of employment verification is requesting work certificates for each work experience the candidate has listed on their CV. These certificates are issued by each company where the individual has previously worked. They usually include employment start and end dates and the person’s position. If requested, the certificates can also include the candidate’s salary during their period of employment. In Colombia, these certificates require the signature of the company’s human resources director. Some companies also reach out to the professional and/or personal references the potential employee has listed on their curriculum vitae. This gives employers the chance to ask questions regarding a hire´s past work experience and personal and professional characteristics. Professional Cards Another way of making background checks in Colombia is asking workers to be duly accredited to perform their occupation, by requiring candidates to possess a professional card. Each profession, including Accounting, Law, Economics, Engineering etc. have their own entity responsible for...

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