BUSINESS ETHICS POLICY
Policy Number: PO-PNC-DOC-02
Section 1 – Scope
This policy applies to all Contracts & Strategic Procurement; the Procurement & Support
Services employees and includes those, who, in anyway are involved in the procurement and
contracting process.
Section 2 - General Policy Statement
In line with the Purchasing Policy, (PO-PNC-DOC-01), the Company upholds fairness in
business dealing with all Tasnee Suppliers and values honest and upholds legal conduct in all
business relationships. The company expects that all purchasing activities shall be conducted in
a highly ethical manner.
Employees engaged by Tasnee in the procurement of materials and services have significant
influence over TASNEE’s reputation. Employee’s action in dealing with suppliers will have effect
on how the company is viewed by suppliers. Every employee of the Contracts & Strategic
Procurement Department; the Procurement & Support Services Department is therefore
expected to:
a)
Comply fully with all applicable laws or government regulations.
b)
Demonstrate and encourage co-employees with an affirmative attitude concerning
TASNEE’s business ethics policies.
c)
Conduct business with only reputable suppliers who maintain a sound financial and high
ethical standing that meet Tasnee expectations.
d)
Demand that relationships with TASNEE’s suppliers be based on mutual respect, honesty
and integrity.
e)
No staff member is permitted to derive, directly or indirectly, any personal advantage
from TASNEE purchases. The highest ethical standards must be observed at all times and
the buyers should not put themselves in situations whereby it may construe that their
objectivity is compromised.
f)
Employees engaged in the procurement of materials and services must act fairly and
objectively and in the best interests of TASNEE in conducting business with suppliers.
g)
Staff involved in purchasing decisions that have outside interests which are in actual or
apparent conflict with the interests of the Company, or who have close family members
with such interests, must withdraw from participation in purchasing decisions so affected
and must declare their interests to their manager and, as appropriate, under the Code of
Conduct.
h)
Report any business ethics violation to the appropriate Section Head and/or Manager.
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Section 3 - Gift & Entertainment
a)
TASNEE’s Purchasing Policy is to award business solely on the basis of best total value.
Tasnee Employees are expected to decline any gift offered by supplier or by individuals
representing the interest of a supplier in exchange for favor or solicit donation, gifts of
any kinds or other financial favors. The only exceptions are gifts of nominal value that
are readily viewed as advertising or promotional items and will not influence or interfere
with decisions to award orders or performance of duties.
b)
Any employee or supplier engaging in such activities or as suspected must be reported to
his immediate Section Head or Manager.
Section 4 - Conflict of Interest
As provided under Section 13 of Purchasing Policy, an employee having procurement authority
or in a position to influence the selection and/or management of a supplier as mentioned above
shall:
a)
Avoid or inhibit himself from participating in buying activities with any supplier in which
he or a dependent member of his family or close relative has a management or financial
interest.
b)
A void and do not conduct personal business with a supplier.
It shall be made known to Tasnee Suppliers to take all necessary steps and precautions to
prevent their employees or representative from making, offering gifts or any other
consideration or advantage of any nature to any employee or representative of TASNEE, which
could in any way, influence the award of business and results into conflict of interest.
Section 5 - Confidential Information
a)
Confidential information includes pricing and cost data, bid or quotation information,
formulas or process design information, supply sources, customer information and
computer software programs. Employees should consult with their supervisor or
manager prior to releasing confidential information to suppliers or other third parties.
b)
Employees with buying functions are expected to develop and execute appropriate NonDisclosure Agreements with suppliers when dealing with confidential information and
should be part of the order documentation.
Section 6 - Competitive Bidding
Competitive bidding is utilized to obtain the best and competitive offers. It must be applied to
promote fair and objective buying decisions. Information obtained from a competitive bidding
must be safeguarded from unauthorized use and should not be shared nor revealed to other
party except for the purpose of evaluating the technical acceptability of the offers. It is Tasnee
Policy to:
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a)
Invite bids only from vendors that meet or exceed the technical and commercial
requirements of the company;
b)
Award contracts to the bidder offering the best total value;
c)
Keep information provided by suppliers confidential and not share with competitors.
Section 7 - Employees Obligation
It is the responsibility of each and every employee of Tasnee to familiarize themselves with this
policy. Any doubt about issues involving business conduct or any provision of this policy,
employee should consult his immediate supervisor or manager for additional guidance.
This Policy is effective from 12.06.2011
This Policy is available at eDMS
Approved:
SALEH F. AL-NAZHA
President
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