States that such Corporate Code of Conduct requires that a U.S. national comply with certain principles regarding fair employment, international human rights, and the environment.
Requires: (1) Federal agency heads to give preference in the award of contracts to entities adopting and enforcing such Code; (2) the Secretary of Commerce to give preference to such entities that are also U.S. exporters with introduction to contacts in foreign countries, and in coordinating trade missions; (3) the Overseas Private Investment Corporation and the Trade and Development Agency to give such entities preference in providing financing and issuing investment insurance, reinsurance, and guaranties under the Foreign Assistance Act of 1961; and (4) the Export-Import Bank to give such entities preference in providing guarantees, insurance, and credit, and in participating in extensions of credit.
Establishes a private right of action to petition the appropriate Federal official to investigate alleged Code compliance violations.
Requires the Secretary of Commerce and others, upon a determination of Code noncompliance, to terminate a contract entered into with the noncomplying entity, and withdraw, suspend, or limit the entity's preference under this Act.