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Procurement Policy: Declare an Interest

Updated on September 30, 2010

 

 

Procurement covers the typical purchase of services, supplies and works required to enable to run an organization. Some company may set out a rule in its Procurement Policy & Procedures require their suppliers to declaration of interest.

 

“Any personal or family interest which may impinge or might reasonably be deemed by others to impinge upon the impartiality of any matter relevant to Purchasing/Procedures duties should be declared to the Head of Procurement before conducting the business.

 

(I) I declare an interest (please delete as appropriate)

 

(II) I do not have any interest in the Company”

 

Or something described as in this post (When to Declare an Interest?):

 

'...the Code provides that generally a member with a personal interest also has a prejudicial interest if the interest could be regarded by a member of the public as so significant that it is likely to prejudice his or her judgement of the public interest.'

 

Normally if you are not a shareholder of the Company or you don’t have any personal link with it, you haven’t any interest in it. From my experience, when I ask our suppliers to fill in the supplier’s form, most of them delete the II, that means they “declare an interest”,  if I were them, I might have done the same, because I think that if I am not INTERESTED in doing business with you, why am signing the contract?

 

This seems very confusing, and may cause serious problems in conducting business.

 

 

 

 

 

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