SG2X EMPLOYEE HANDBOOK POLICES
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PROCUREMENT PROCEDURE Procurement of Goods and Services: All [COMPANY NAME] employees must abide by the authorization levels and guidelines set forth by the company. If any limits are unclear, employees are expected to consult with senior staff or managers prior to initiating the purchase or procurement of goods or services or management of [COMPANY NAME] cash or bank accounts. Procurement of all goods or services shall favor a competitive process that enhances access, transparency, competition and fairness and results in Best Value (“Best value” defined as the optimal combination of quality, service, time and cost considerations, over the useful life of the good, service or asset). A reasonable number of suppliers (at least 3) should be reviewed for consideration and/or given an opportunity to bid in order to avoid situations where there may be a bias toward procuring and/or awarding a contract for goods, services or assets for the company. Locally Owned, Minority-Owned, Female-Owned and Small Businesses: In addition to seeking Best Value for all purchases, [COMPANY NAME] employees shall take necessary steps to solicit participation of locally owned, minority-owned, female-owned and small businesses whenever possible. These steps include soliciting proposals from minority- or women-owned businesses that provide the goods or services that are being sought. Where possible and feasible, delivery schedules will be established, and work will be subdivided to maximize participation by small businesses or minority- or women-owned businesses. Where feasible, evaluation criteria will include a factor with an appropriate weight for these firms. Documentation: In addition to documenting the procurement process as described above in the Procurement of Goods and Services section, invoices, quotes, receipts, emails and other documents supporting all procurements are to be retained and sent to the operations manager for proper filing. The documentation should, at a minimum, contain a description of goods or services provided, the amount paid, and the date of the transaction, recognizing that receipts for smaller transactions (e.g., those under [deemed threshold/limit]) are likely to contain less information. Transaction documents should contain adequate information to show compliance with applicable procurement rules. Purchases of goods or services in excess of [deemed threshold/limit] shall be accompanied with no less than an invoice outlining the details of the purchase mentioned above and a payment confirmation or receipt. Purchases of goods or services in excess of [deemed threshold/limit] shall be accompanied by a proforma invoice, written proposal or quote in advance of being awarded the engagement. Further, in all scenarios exceeding [deemed threshold/limit], a manager should be notified and determine whether the engagement shall be memorialized in an executed agreement between [COMPANY NAME] and the contracted party. Avoidance of Conflict of Interest: [COMPANY NAME] employees, including partners, employees, agents, or independent contractors, shall avoid participation in procurement decisions if their participation presents an actual or apparent conflict of interest. A conflict of interest exists when the individual involved in procurement decisions, or partners, engages immediate family members or an organization in which the individual has a financial or other significant interest and would benefit from the outcome of that decision. Where a potential, actual or apparent conflict of interest exists, the [COMPANY NAME] employees with the conflict shall inform the [COMPANY NAME] manager responsible for