The Bank applies fair and uniform rules for the selection of its suppliers where such selection is based on objective criteria such as the quality, price, reliability and compliance with the principles of ethical business conduct. Tenders are conducted in a transparent manner, in compliance with the applicable internal regulations. The Bank also keeps trade secrets confidential, adheres to confidentiality clauses and protects all information it obtains in the process of negotiating and performing contracts with its suppliers. Every supplier taking part in a tender procedure must undertake to observe the rules included in the Bank Millennium Group’s Code of Ethics by signing a representation to that effect.
[GRI 103-1, 103-2, 103-3]
The Bank’s approach calls for zero tolerance to any and all manifestations of corruption, which may be succinctly defined as the acceptance or giving of (financial or non-financial) benefits with a view to generating a specific behavior or omission by the other party.