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Procurement Policy

This Procurement Policy outlines Outrigo’s commitment to ethical, responsible, and efficient procurement practices. It establishes guidelines for acquiring goods and services while ensuring compliance with legal, financial, and operational requirements.

SCOPE

This policy applies to all procurement activities undertaken by Outrigo, including purchasing goods, materials, equipment, and services from external suppliers. It also governs relationships with suppliers and subcontractors.

PROCUREMENT PRINCIPLES

Outrigo’s procurement activities are guided by the following principles:

  • Transparency & Fairness – Ensuring an open and competitive procurement process.

  • Value for Money – Selecting suppliers based on quality, cost, and reliability.

  • Ethical Sourcing – Procuring responsibly and maintaining compliance with legal and environmental standards.

  • Supplier Relationships – Building long-term, mutually beneficial partnerships.

  • Risk Management – Mitigating risks related to supplier performance, compliance, and financial stability.

SUPPLIER SELECTION AND EVALUATION

Suppliers will be assessed based on:

  • Financial stability and track record.

  • Quality assurance and certifications (ISO 9001, IATF 16949, etc.).

  • Sustainability and ethical practices (e.g., environmental impact, fair labor practices).

  • Technical capability and innovation relevant to Outrigo’s industry.

  • Delivery reliability and lead times.

A supplier evaluation and approval process will be conducted before engagement. Outrigo reserves the right to conduct periodic performance reviews and audits.

PAYMENT TERMS

Unless otherwise agreed in writing, Outrigo’s standard payment terms are:

  • 60 days net from the end of the month following the later of:

    • The month in which goods are delivered, and off-loading is completed at Outrigo’s premises.

    • The month in which services are fully performed by the supplier.

    • The month in which the invoice is correctly received by Outrigo, including the purchase order reference.

Invoices must be properly formatted and include all required details. Failure to comply may result in payment delays.

CONTRACTING AND SUBCONTRATING

  • Suppliers shall not assign, subcontract, or transfer any part of their obligations without prior written consent from Outrigo.

  • If subcontracting is approved, the supplier remains fully responsible for the actions and performance of subcontractors.

  • Suppliers must provide Outrigo with copies of subcontracting agreements upon request.

CONFIDENTIALITY AND DATA PROTECTION

  • Any information provided by Outrigo, including business operations, technical specifications, or financial data, must be treated as confidential.

  • Suppliers shall not disclose, distribute, or use Outrigo’s information without explicit written consent.

  • Data protection and cybersecurity measures must be in place to safeguard sensitive information.

COMPLIANGE AND ETHICS

  • All suppliers must adhere to:

  • All applicable laws and regulations related to business operations.

  • Health, Safety, and Environmental (HSE) standards.

  • Anti-bribery and corruption laws (e.g., UK Bribery Act, FCPA).

  • Fair labor practices (no child labor, forced labor, or discrimination).

  • Sustainability and environmental commitments (recycling, waste reduction, energy efficiency).

  • Failure to comply may result in termination of the business relationship.

INSURANCE REQUIREMENTS

  • Suppliers must maintain sufficient insurance coverage, including:

  • Public liability insurance.

  • Employer’s liability insurance.

  • Product liability insurance (where applicable).

  • Professional indemnity insurance (for service providers).

  • Workers’ compensation (if required by local laws).

  • Proof of insurance must be provided upon request.

DISPUTE RESOLUTION

  • Any disputes arising between Outrigo and its suppliers shall first be addressed through direct negotiation. If unresolved, disputes may be escalated to mediation or arbitration per contractual agreements.

TERMINATION AND BREACH OF CONTRACT

  • Outrigo reserves the right to terminate any agreement in cases of:

  • Non-compliance with contractual terms.

  • Ethical or legal violations.

  • Repeated poor performance, delays, or quality issues.

  • Suppliers may be given an opportunity to rectify issues before termination.

POLICY REVIEW AND UPDATES

  • This policy will be reviewed periodically to align with Outrigo’s evolving business needs and regulatory requirements. Updates will be communicated to relevant stakeholders.

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