Introduction

1.        Members of the Global Procurement Group undertake to work to exceed the expectations of the following Code and will regard the Code as the basis of best conduct in the Purchasing and Supply profession.

2.        Members should seek to achieve widespread acceptance of the Code amongst their fellow employees.

3.        Members should raise any matter of concern of an ethical nature with the Group Procurement Manager, irrespective of whether it is explicitly addressed in the Code.

Principles

4.        Members shall always seek to uphold and enhance the standing of the Purchasing and Supply profession and will always act professionally and selflessly by:

(a)       maintaining the highest possible standard of integrity in all their business relationships both inside and outside the company;

(b)       rejecting any business practise which might reasonably be deemed improper and never using their authority for personal gain;

(c)       enhancing the proficiency and stature of the profession by acquiring and maintaining current technical knowledge and the highest standards of ethical behaviour;

(d)       fostering the highest possible standards of professional competence amongst those for whom they are responsible;

(e)       optimising the use of resources which they influence and for which they are responsible to provide the maximum benefit to the company;

(f)        complying both with the letter and spirit of:

                 I.      the plans, procedures and policies of the company;

               II.      contractual obligations;

             III.      the law of the country in which they procure

5.        Members should never allow themselves to be deflected from these principles.

Guidance

6.        In applying these principles, members should follow the guidance set out below;

(a)       Declaration of interest – Any personal interest which may affect or be seen by others to affect a member’s impartiality in any matter relevant to his or her duties should be declared.

(b)       Confidentiality and accuracy of information – The confidentiality of information received in the course of duty should be respected and should never be used for personal gain. Information given in the course of duty should be honest and clear.

(c)       Competition – The nature and length of contracts and business relationships with suppliers can vary according to circumstances. These should always be constructed to ensure deliverables and benefits.

(d)       Arrangements which might in the long term prevent the effective operation of fair competition should be avoided.

(e)       Business gifts – Business gifts, other than items of very small intrinsic value such as business diaries or calendars, should not be accepted.

(f)        Hospitality – The recipient should not allow him or herself to be influenced or be perceived by others to have been influenced in making a business decision as a consequence of accepting hospitality. The frequency and scale of hospitality accepted should be managed openly and with care and should not be greater than the company is able to reciprocate.

Decisions and Advice

7.        When it is not easy to decide between what is and is not acceptable, advice should be sought from the Group Procurement Manager or other senior manager within the company.

The Chartered Institute of Purchasing & Supply are acknowledged for their assistance in the formulation of the above Ethical Code.