A code of conduct is a formal statement by an organisation of how it expects to behave to uphold its stated values, for example integrity and transparency. The code outlines the responsibilities of, or proper practices for, individuals, teams and the organisation itself. Codes of conduct typically address conduct in terms of principles, for example, behave honestly, treat all people with respect, disclose any conflict of interest, etc. In relation to procurement, there are usually explicit rules about accepting gifts and hospitality, to promote confidence in the objectivity and transparency of the procurement process. See also Probity.
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Discover the world’s largest Glossary of Procurement terms
With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.
