Company Procurement

Company Procurement

Bancoii has developed green procurement policies as a means to install an environmental ethic and guide our business practices towards greater sustainability. Suppliers, in particular, are an integral part of the Bancoii policy development process.We work with their suppliers to understand how certain commitments can impact their ability to meet price, quality and service requirements as well as environmental criteria. When developing a policy, Bancoii will want to think to the future, while setting achievable commitments today that can be improved upon as experience is gained through implementation.

While Bancoii have found it helpful to engage different internal and external stakeholders in developing our Basic Procurement Policy, this brief outlines some of the types of issues that Bancoii is considering when developing their leadership commitments on procurement.

The following is our Basic Procurement Policy.

1. Fair and Equitable Dealings

We provide open, fair, and equitable opportunities to suppliers wishing to conduct business with us. In selecting suppliers, we will take into consideration quality, cost, delivery schedules, the ability of the supplier to provide a stable supply, technological strength and know-how, the financial position of the supplier, and other factors.

2.Relying on Life Cycle Analysis

While some issues are more important than others, taking a single criterion approach has the risk of running counter to long-term sustainability objectives. Therefore, it is important to adopt a life-cycle approach as a guiding framework when evaluating the environmental characteristics of a product.

3. Prioritizing the Environment (Green Procurement)

We understand that the conservation of the Earth's environment is one of the highest priorities for human kind. It is our basic policy to procure environmentally friendly materials.

4. Developing Relationships of Mutual Trust

We respect free competition, and aim to deepen our relationships of trust with all suppliers through fair business transactions.

5.Promoting Certification

3rd-party certification is a useful tool for communicating performance. Bancoii Policies that recognize and encourage 3rd-party certification offer incentives for suppliers to adopt certification and be transparent on how they are managing the environment to a particular standard.

6 Promotion of Developmental Procurement

We promote developmental procurement in order to cooperate with our suppliers in reducing costs as much as possible. We welcome and evaluate new proposals from suppliers who wish to provide their extensive and specialized knowledge and know-how, new technologies and products.

7.Rewarding Leadership

A key element of Bancoii procurement policies is that suppliers be given incentives to undertake actions that advance our company's procurement objectives, and like wise recognize existing efforts that promote sustainability, such as 3rd-party certification commitments, collaborative engagement with conservation organizations, and voluntary pollution control actions.

8. Legal Compliance (safeguarding of confidential information)

We comply will all laws and regulations related to procurement in both letter and spirit. We do not disclose any sales or technical information we receive in the course of our procurement activities with suppliers to third parties without the consent of the supplier.

9.Using Clear Language

We try to avoid vague terms and those with many conflicting definitions. These terms have different meanings and often reflect the values of those defining them. Adopting such terms could conflict with your company's values, while running the risk that they are interpreted differently by relevant stakeholders