Commitment to Ethical Procurement

Vertel Corporation is committed to conducting all procurement activities with the highest standards of integrity, fairness, and transparency. We believe that our procurement processes should reflect the same ethical principles that guide our own operations, fostering trust and mutual respect with suppliers and partners. Our commitment extends to selecting suppliers who share our values and demonstrate responsible business practices. Ethical procurement is not only essential for maintaining compliance with legal and regulatory requirements but also crucial for protecting our reputation and ensuring sustainable business relationships.

Scope and Applicability

This code applies to all employees, contractors, and agents involved in procurement decisions and activities at Vertel Corporation and its subsidiaries. It also extends to all suppliers, vendors, subcontractors, and service providers who do business with Vertel. All parties are expected to adhere to these standards when engaging in any contractual or business dealings with Vertel. The code covers all types of goods, services, and works acquired across our diverse industries, including construction, entertainment, and finance. Compliance with this code is mandatory and forms a key component of supplier qualification and ongoing performance evaluation.

Supplier Selection and Fair Competition

Vertel ensures that supplier selection processes are conducted impartially and based on objective criteria including quality, price, delivery, service, and sustainability practices. We strive to provide equal opportunity to qualified suppliers without favoritism, discrimination, or undue influence. Procurement decisions are made solely on the basis of merit and the ability to meet Vertel’s operational and ethical standards. Suppliers are expected to compete fairly and avoid any form of collusion, bribery, or unethical conduct that could distort the marketplace. Transparency and accountability are central to our procurement practices, and any irregularities are investigated thoroughly and addressed promptly.

Compliance with Laws and Regulations

Both Vertel and its suppliers must comply fully with all applicable local, national, and international laws and regulations related to procurement activities. This includes laws concerning anti-corruption, competition, labor rights, environmental protection, health and safety, and data privacy. Suppliers must maintain all necessary licenses, permits, and certifications to conduct their business legally and ethically. Vertel reserves the right to conduct audits and assessments to verify compliance and may terminate relationships with suppliers who fail to meet these legal obligations or who engage in illegal activities.

Labor and Human Rights Standards

Vertel expects all suppliers to uphold fundamental human rights and to provide safe and fair working conditions for their employees. Suppliers must prohibit child labor, forced labor, and any form of exploitation or discrimination. Fair wages, reasonable working hours, and the right to freedom of association must be respected. Health and safety practices should meet or exceed industry standards, ensuring the wellbeing of workers at all times. Vertel is committed to supporting suppliers in promoting these standards and expects corrective actions if any violations are identified. Our procurement policy aligns with international conventions on labor and human rights, reflecting our dedication to ethical supply chain management.

Environmental Responsibility

Sustainability is a key consideration in Vertel’s procurement decisions. We encourage suppliers to adopt environmentally responsible practices that minimize negative impacts on the planet. This includes reducing waste, conserving energy and water, managing emissions, and promoting the use of sustainable materials and products. Suppliers are expected to comply with all environmental laws and strive for continuous improvement in their environmental performance. Vertel seeks to collaborate with suppliers who demonstrate innovation and leadership in sustainability, contributing to our broader corporate environmental goals and commitment to future generations.

Conflict of Interest and Confidentiality

All individuals involved in procurement activities must avoid conflicts of interest that could impair impartial judgment. Any personal relationships, financial interests, or other circumstances that might influence procurement decisions must be disclosed immediately. Suppliers must also respect the confidentiality of any sensitive information received from Vertel and refrain from using such information for unauthorized purposes. Maintaining confidentiality protects competitive advantages, intellectual property, and the integrity of the procurement process. Vertel enforces strict confidentiality measures and expects suppliers to uphold these principles as a condition of partnership.

Monitoring, Reporting, and Continuous Improvement

Vertel maintains robust systems for monitoring supplier compliance with this code through regular audits, performance reviews, and feedback mechanisms. Suppliers are encouraged to report any unethical or non-compliant behavior they observe within their own operations or the wider supply chain. Vertel provides channels for anonymous reporting and assures protection against retaliation for whistleblowers. Findings from audits and reports are used to drive continuous improvement and corrective actions. Through constructive engagement, training, and collaboration, Vertel strives to build a responsible and resilient supply chain that delivers value while upholding our shared commitment to ethical business conduct.