Odebrecht construction company, Brazil's largest contractor, signed a leniency deal—a sort of corporate plea bargaining agreement—with the judiciary task-force in charge of Operation Car Wash on Thursday (Dec. 1st). In addition to revealing illegal practices committed by its employees and directors, the contractor has committed itself to paying around $1.97 billion in fines.

In a statement, Odebrecht apologized to the country and admitted to “illicit actions” in its business activity. “Odebrecht Apologizes for its Mistakes,” is the title of the public statement. “This was a grave error. We violated our own principles and transgressed against the values of honesty and ethics,” read the statement from the contractor, which has been charged with colluding to form a cartel to rig Petrobras contracts.

Odebrecht also apologized for not having acted sooner. "It does not matter that we gave in to external pressures. Nor is it relevant that there are behaviours that the private and public sectors must resist and correct in their relationships. What matters is that we acknowledge our involvement. We were complicit and did not fight these practices, as we should have."

Under the rules for signing the leniency agreement, companies must collaborate with the government's investigations, offering fresh and conclusive evidence to indict others involved in illegal practices. In return, companies can continue signing contracts with the government, the punitive administrative case can be dismissed, and the applicable penalty can be reduced.

For the future, Odebrecht is committed to fight and show zero tolerance for corruption in all its forms, including extortion and bribery. It also commits to “say no firmly” to business opportunities that conflict with this commitment, and to adopt principles firmly grounded on ethics, integrity and transparency in relations with public and private agents and to "never rely on cultural or customary market conditions as a justification for illicit actions."