Vendor conflict-of-interest policy
Employees and approvers must disclose personal, financial, family, or business relationships that could influence vendor selection or management. A conflicted person must not evaluate, approve, or release payment for the affected transaction unless a documented mitigation is approved. Disclosures and decisions should be retained with the procurement record.
Related Articles
Vendor onboarding and due-diligence policy
Create a vendor only after verifying identity, contact information, category, ownership information where required, tax details, and payment instructions through approved channels. Check for duplicate vendor records and conflicts of interest. ...
How to make a vendor advance payment
Use Create Advance Payment when the organisation needs to pay a vendor before there is a supplier bill to select. This is different from a bill payment and must later be applied or reconciled according to your accounting process. Who can do this ...
Procurement competition and quotation policy
Purchases should follow the organization’s quotation and competition thresholds. RFQs must describe the same scope to each invited vendor and allow a reasonable response period. Evaluation must consider price, quality, delivery, capacity, risk, and ...
Approval authority and delegation policy
Approval authority must follow documented limits for role, value, department, project, and transaction type. Approvers should act independently and disclose conflicts of interest. Delegation must be time-bound, approved, and assigned to a user with ...
Business expense policy
Business expenses must be necessary, reasonable, properly authorized, and supported by evidence. Personal, duplicate, fictitious, or inadequately explained expenses are prohibited. Users must select accurate categories, dates, amounts, currencies, ...