Transactions with related parties
The transactions of the EDP Group companies with related parties must comply with the rules in force in the Group. The decision makers of the EDP Group must not undertake or authorize transactions with entities with which they find they have a conflict of interest or in which parties related to those decision makers participate. The decision making processes on related party transactions must be documented in minutes or supporting document, and are the responsibility of the Corporate Centre or of each business unit regardless of their geographical location.
“Procurement Guide” - Conduct for Employees
Employees who participate in procurement activities or have relations with suppliers must act in accordance with the EDP Group’s “Values and Commitments” and “Code of Ethics”, which consists of, in particular:
- Comply with the law and regulations in force;
- Elimination of Conflicts of Interest;
- Fair Competition Rules;
The “Procurement Guide” details the specific guidelines of these general principles concerning procurement. It establishes the following standards, among others:
- Obligation to assign greater value to suppliers that meet a greater number of requirements in terms of quality, sustainability and occupational health and safety;
- Mandatory exclusion of suppliers employing illegal labor;
- Prohibition on receiving any benefit from the supplier;
- Accepting invitations from suppliers to participate in events involving travel requires authorization of superior officers;
- Obligation to declare incompatibility when family relationships with suppliers exist;
- Impediment to the co-existence of professional relationships parallel to procurement relations;
- Leisure-time interaction with suppliers is prohibited;
- Developing ghost negotiations is prohibited;
- Abusing the dominant position by forcing the supplier to accept conditions below market standards is prohibited.
Transparency and information security
Integrity, traceability and confidentiality of the information and internal and external documentation is ensured from the demonstration of the need for supply until its actual contracting. Strict internal procedures are established for this purpose.