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What is Ethical Procurement and Why is it Important?

Oxford College of Procurement and Supply

Ethical procurement is becoming increasingly important in our ever more complex, interconnected, and global economy. In the past, the main focus for most companies was profit, but more and more companies now understand and value ethical procurement. In this post, we explore what ethical procurement means and why it is so important.

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A red light for corruption: How the Dominican Republic is using open data, better processes & collaboration to fight corruption

Open Contracting Partnership

Challenge: In 2020, public procurement in the Dominican Republic lacked public trust and credibility due to several high-level corruption scandals. Corruption in public procurement makes us poorer and takes our rights away.” So the DGCP adopted a three-pronged approach to improve things.

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Voluntary Self-Disclosure of FCPA Violations Following Acquisition Avoids Corruption Charges

Government Contracts & Investigations

The Foreign Corrupt Practices Act (“FCPA”) prohibits U.S. companies from engaging in bribery and corruption abroad when the payments are directed at foreign government officials to gain an improper business advantage. [4] 3] What is the FCPA? American companies acquiring foreign corporations need to assess the risks carefully.

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ICCA Hong Kong 2024: Advocacy, Procedures, and Ethics in Focus

Kluwer Arbitration

Inter-Personal Conduct and Ethics For the first parallel panel of the early afternoon session, moderator Abby Cohen Smutny was joined by speakers Funke Adekoya , Brandon Bang , Nicolás Gálvez Solis , Matthew Gearing KC and Jonathan Lim to discuss ICCA’s Guidelines on Standards of Practice.

Ethics 52
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Hong Kong Arbitration Week 2024: Guarding the Integrity of Arbitration – Reflections on the Landmark English Decision in Nigeria v P and ID

Kluwer Arbitration

Improper retention of privileged and confidential legal documents : P&ID improperly obtained, retained, and misused Nigeria’s privileged and confidential legal documents, and used these to monitor whether its corruption had been uncovered and to track Nigeria’s case strategy throughout the arbitration.

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Digging out data to shine a light on public buying in Mongolia

Open Contracting Partnership

To tackle this problem, the country has proposed wide-ranging legislation , including an anti-corruption package with measures to standardize the operations of Mongolia’s state-owned enterprises (SOEs) and ensure they follow consistent rules throughout processes like tendering and procurement, among others.

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The Suppliers Perspective

Oxford College of Procurement and Supply

Finally, ensure you act ethically and sustainably at all times. Do not engage in any bad practice such as bribery, corruption or fraud. Challenge yourself as to whether any of the errors are actually related to the fact that the specification given with the RFQ or purchase order was ambiguous.