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Procurement Policy

A LEGAL DISCLAIMER

1. Introduction
Nehses Technologies Private Limited, operating as Nehses Global, is an international commodity trading company registered in India (Registration Number: U72900UP2020PTC139912) with its operational office located at 1 Canada Square, London E14 5AA. This Procurement Policy outlines the principles, procedures, and guidelines governing the procurement of goods and services to ensure transparency, efficiency, and compliance with legal and ethical standards.
The purpose of this policy is to:

  • Promote fair and competitive procurement practices.

  • Ensure cost-effectiveness and value for money.

  • Maintain high standards of integrity and accountability.

  • Support sustainable and ethical sourcing practices.

This policy applies to all employees, contractors, and third parties involved in procurement activities on behalf of Nehses Global.

2. Scope
This policy covers all procurement activities, including but not limited to:

  • Sourcing of commodities (e.g., raw materials, agricultural products, metals, energy resources).

  • Procurement of services (e.g., logistics, consultancy, IT services).

  • Acquisition of equipment, supplies, and other operational resources.

The policy applies to all procurement processes conducted globally, regardless of the location of the supplier or the operational unit initiating the purchase.

3. Procurement Principles
Nehses Global is committed to the following core principles in its procurement activities:
3.1 Transparency
All procurement processes shall be conducted openly, with clear documentation and communication to ensure accountability.
3.2 Fairness and Non-Discrimination
Suppliers shall be treated equitably, with no favoritism or bias. Procurement decisions will be based on objective criteria such as quality, price, and reliability.
3.3 Value for Money
Procurement decisions shall prioritize cost-effectiveness while maintaining quality and meeting operational requirements.
3.4 Ethical Conduct
All procurement activities shall adhere to the highest ethical standards, avoiding conflicts of interest, bribery, or any form of corruption.
3.5 Sustainability
Nehses Global will prioritize suppliers who demonstrate environmentally responsible practices and adhere to sustainable sourcing standards.
3.6 Compliance
All procurement activities shall comply with applicable local and international laws, regulations, and trade agreements, including anti-corruption laws (e.g., UK Bribery Act 2010, Foreign Corrupt Practices Act).

4. Procurement Process
The procurement process at Nehses Global is designed to ensure efficiency, compliance, and accountability. The following steps outline the standard procedure:
4.1 Needs Assessment

  • Departments or units must identify and document their procurement needs, including specifications, quantities, and timelines.

  • A requisition form must be completed and approved by the relevant authority before initiating procurement.

4.2 Supplier Identification

  • Suppliers shall be identified through competitive processes, such as requests for quotations (RFQs), requests for proposals (RFPs), or open tenders.

  • Nehses Global maintains a pre-approved supplier database, which is regularly updated based on supplier performance and compliance.

4.3 Supplier Evaluation
Suppliers will be evaluated based on the following criteria:

  • Price competitiveness.

  • Quality of goods or services.

  • Delivery timelines and reliability.

  • Financial stability and reputation.

  • Compliance with ethical, environmental, and legal standards.

4.4 Competitive Bidding

  • For purchases above GBP 50,000, a minimum of three competitive bids must be obtained, unless an exemption is approved by the Procurement Committee.

  • Single-source procurement is permitted only in exceptional circumstances (e.g., proprietary goods, emergencies) with written justification and approval.

4.5 Contract Negotiation and Award

  • Contracts shall be negotiated to ensure favorable terms, including pricing, delivery schedules, and warranties.

  • Contracts must be reviewed by the Legal Department to ensure compliance with applicable laws and company policies.

  • The final contract award shall be approved by the designated authority based on the procurement value.

4.6 Purchase Order Issuance

  • A purchase order (PO) shall be issued to the selected supplier, detailing the agreed terms and conditions.

  • The PO must be signed by an authorized representative of Nehses Global.

4.7 Delivery and Inspection

  • Upon receipt of goods or services, the receiving department shall verify compliance with the PO specifications.

  • Any discrepancies or defects must be reported to the supplier and the Procurement Department within 48 hours.

4.8 Payment Processing

  • Payments shall be processed only after verification of delivery and compliance with contract terms.

  • Invoices must be submitted with supporting documentation (e.g., PO, delivery note) and processed within 30 days, unless otherwise agreed.

4.9 Record Keeping

  • All procurement documentation, including requisitions, bids, contracts, POs, and invoices, shall be maintained for a minimum of seven years for audit purposes.
     

5. Roles and Responsibilities
5.1 Procurement Department

  • Oversee the implementation of this policy.

  • Manage supplier relationships and maintain the supplier database.

  • Ensure compliance with procurement procedures and applicable regulations.

  • Provide training and guidance to employees involved in procurement.

5.2 Department Heads

  • Approve procurement requisitions within their authority limits.

  • Ensure procurement needs are accurately identified and documented.

  • Monitor the performance of goods and services procured.

5.3 Employees

  • Adhere to this policy and report any suspected violations.

  • Declare any potential conflicts of interest before engaging in procurement activities.

5.4 Procurement Committee

  • Review and approve high-value procurements (above GBP 100,000).

  • Resolve disputes or exceptions to the procurement process.

  • Conduct periodic reviews of the procurement policy and procedures.
     

6. Supplier Management
6.1 Supplier Selection

  • Suppliers must meet Nehses Global’s eligibility criteria, including financial stability, ethical practices, and compliance with environmental standards.

  • Preference will be given to suppliers with certifications such as ISO 9001 (quality management) or ISO 14001 (environmental management).

6.2 Supplier Performance Monitoring

  • Suppliers shall be evaluated annually based on quality, timeliness, and adherence to contract terms.

  • Underperforming suppliers may be removed from the pre-approved supplier database.

6.3 Ethical Sourcing

  • Suppliers must comply with Nehses Global’s Supplier Code of Conduct, which prohibits child labor, forced labor, and discriminatory practices.

  • Suppliers are encouraged to adopt sustainable practices, such as reducing carbon emissions and minimizing waste.
     

7. Risk Management
7.1 Conflict of Interest

  • Employees involved in procurement must disclose any personal or financial interests that could influence their decisions.

  • Failure to disclose conflicts of interest may result in disciplinary action.

7.2 Anti-Corruption

  • Nehses Global has a zero-tolerance policy for bribery, kickbacks, or any form of corruption.

  • All employees and suppliers must comply with anti-corruption laws and report any suspicious activities.

7.3 Supply Chain Risks

  • The Procurement Department shall conduct due diligence to mitigate risks such as supplier insolvency, geopolitical instability, or supply chain disruptions.

  • Contingency plans, such as alternative suppliers, shall be established for critical commodities.
     

8. Sustainability and Corporate Social Responsibility (CSR)
Nehses Global is committed to sustainable procurement practices that minimize environmental impact and promote social responsibility. This includes:

  • Prioritizing suppliers with environmentally friendly practices.

  • Supporting local suppliers in the communities where Nehses Global operates, where feasible.

  • Reducing waste through efficient procurement planning and recycling initiatives.
     

9. Compliance and Monitoring
9.1 Policy Compliance

  • All procurement activities shall be subject to internal audits to ensure compliance with this policy.

  • Non-compliance may result in disciplinary action, including termination or legal action.

9.2 Reporting Violations

  • Employees and suppliers are encouraged to report any violations of this policy through Nehses Global’s whistleblower hotline or directly to the Compliance Officer.

  • Reports will be investigated confidentially, and whistleblowers will be protected from retaliation.

9.3 Policy Review

  • This policy shall be reviewed annually or as needed to reflect changes in laws, regulations, or business needs.

  • Updates to the policy must be approved by the Board of Directors.
     

10. Exemptions and Exceptions

  • Exemptions to this policy (e.g., single-source procurement, emergency purchases) must be justified in writing and approved by the Procurement Committee.

  • Emergency procurements must be reported to the Procurement Department within 24 hours for documentation and review.
     

11. Contact Information
For questions or clarifications regarding this policy, please contact:
Nehses Global Procurement Department
Email: procurement@nehsesglobal.com
Address: 1 Canada Square, London E14 5AA, United Kingdom
Phone: +44 (0) 20 1234 5678

12. Approval
This Procurement Policy is effective as of April 23, 2025, and has been approved by the Board of Directors of Nehses Technologies Private Limited.

Signed:
Pradip Kumar, Managing Director
Kanika Singh, Vice President
Date: April 23, 2025

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