VENDOR MANAGEMENT POLICY

Overview

The Dandelion Philosophy is committed to maintaining transparent, accountable, and corruption-free vendor and purchase and payment practices.

This policy ensures that all purchases and payments are conducted in a fair, efficient, and ethical manner, while actively preventing corruption and nepotism.

Additionally, The Dandelion Philosophy strives to achieve 100% cashless operations to enhance transparency and financial control. By adhering to this policy, we aim to foster a culture of integrity, eliminate the risk of corruption, and promote responsible financial management.

Guidelines:

Vendor Selection and Evaluation:

1. Vendor selection will be based on objective criteria, including quality, price, reliability, and adherence to ethical business practices.

2. All potential vendors will be thoroughly assessed to ensure they have no involvement in corrupt activities or affiliations.

Competitive Bidding:

1. For significant purchases, a competitive bidding process will be followed to ensure fair and transparent selection.

2. The procurement team will solicit bids from multiple vendors and evaluate them based on predetermined criteria.

Anti-Corruption Measures:

1. The Dandelion Philosophy strictly prohibits bribery, kickbacks, or any other form of corruption in vendor interactions.

2. Employees involved in the vendor selection and procurement process must sign an anti-corruption pledge and undergo regular anti-corruption training.

Purchase Requisition:

1. All purchases must be initiated through an official purchase requisition form, which includes detailed specifications and quantities of the items required.

2. The requisition must be approved by the appropriate authority before proceeding with the purchase.

Purchase Order:

1. A purchase order will be issued to the selected vendor, specifying the items, quantities, agreed prices, and delivery dates.

2. The purchase order serves as a binding agreement between The Dandelion Philosophy and the vendor.

Receipt and Inspection:

1. Upon delivery of goods or completion of services, a designated representative will inspect and verify the quality and quantity of the items.

2. Any discrepancies or issues will be documented and promptly addressed with the vendor.

Invoice Processing and Payment:

1. Invoices from vendors should match the corresponding purchase orders and be accompanied by the required supporting documentation.

2. The Dandelion Philosophy aims to achieve 100% cashless operations by making payments through secure electronic fund transfers or other traceable methods.

Vendor Relationship Management:

1. The Dandelion Philosophy will maintain vendor relationships based on merit, fairness, and mutual benefit, without any favouritism or nepotism.

2. Vendors will be required to disclose any potential conflicts of interest or familial connections with employees of The Dandelion Philosophy.

Compliance and Ethical Standards:

1. The Dandelion Philosophy is committed to complying with all applicable laws and regulations related to vendor selection, procurement, and payments.

2. The organisation expects vendors to uphold high ethical standards and strictly prohibits any involvement in corrupt practices.

Record-Keeping:

1. Accurate and complete records of all vendor and purchase transactions, including purchase orders, invoices, and payment documentation, will be maintained for audit purposes.

The Vendor and Purchase and Payment Policy reflects The Dandelion Philosophy's zero-tolerance approach towards corruption, nepotism, and unethical practices. All employees involved in vendor selection, procurement, and payment processes are expected to adhere to these guidelines and actively prevent corruption in all interactions. Any deviations or exceptions to this policy must be approved by the appropriate authority and documented accordingly.