Conflict of Interest
SOLREV shall desist from engaging in business with a supplier when there is impression or evidence of conflict of interest. Supply Chain associates and suppliers are instructed to desist from activities that may be classified as Conflict of Interest such as: Financial Interest in a supplier or contractor, Indebtedness to a supplier or contractor, Employment with a vendor, Compensation from a vendor, Expensive gifts, entertainment or other benefits from a supplier, Purchasing from relatives to the second degree of consanguinity. Associates will at all times act in a professional and impartial manner in all business dealings to ensure fairness within the company.
Confidentiality of Information
Affiliates of SOLREV are assured that transactions relating to the company’s purchases are confidential, especially with regard to our suppliers and competitors.
It is considered unethical and illegal, as well as damaging to the company’s competitive position to allow company exclusive information about one supplier to pass to another supplier. Exclusive information requires protection of the name, composition, process of manufacture, or rights to unique or exclusive information, which has marketable value and is upheld by patent, copyright, or non-disclosure agreements.
It is the corporate policy to maintain consistency in the protection of assets and interests through the use of insurance, bonds, progress payments, retainage, holdbacks and other accepted methods when using contractors and service providers.
Emergency purchases are sometimes necessary and employed when items to be purchased are critically needed to avoid project implementation delays, cost overruns, high cost savings potential, or contingencies associated with employee’s welfare, safety and security. Emergency purchases will be awarded only to vendors who are reliable and capable of immediately providing the critical requirements.
Warranty and Guarantee
The vendor shall guarantee that its product or service is reliable and free from any defects; and that it will replace or repair, without charge, defective products/jobs within a given reasonable time under certain conditions. The vendor shall assume liability for the loss or damage to life and property resulting to his failure, neglect or carelessness in the execution of the order.
The vendor shall ensure compliance with SOLREV’s safety and security rules and regulations, and local/national/international laws governing the manufacture, sale and delivery of their goods and services. SOLREV shall not in any way be responsible, accountable or liable for any violations that may be committed by the vendor.