Vendor Policy
Effective Date: January 1, 2023
AdviceScout Vendor Policy
1. INTRODUCTION 1.1
- AdviceScout (“we,” “us,” or “our”) is dedicated to establishing and maintaining strong vendor relationships that contribute to the success of our business. This Vendor Policy outlines the expectations and requirements for vendors who provide goods or services to AdviceScout (“Vendor” or “you”).
2. VENDOR SELECTION 2.1
- Vendors are chosen based on various factors, including but not limited to the quality of their products or services, pricing, reputation, reliability, and compliance with applicable laws and regulations. 2.2 We retain the right to evaluate and select vendors based on our own criteria and make modifications or terminate vendor relationships as necessary.
3. CONTRACTUAL AGREEMENTS 3.1
- Prior to commencing any business engagement, vendors may be required to enter into a formal written agreement that outlines the terms and conditions of the business relationship. This agreement will cover deliverables, pricing, payment terms, confidentiality, intellectual property rights, termination provisions, and other relevant provisions. 3.2 Vendors must review and sign the agreement, indicating their acceptance of the terms and their commitment to comply with all applicable laws, regulations, and ethical standards.
4. COMPLIANCE WITH LAWS AND REGULATIONS 4.1
Vendors must adhere to all applicable local, state, national, and international laws, regulations, and standards relevant to their products or services. 4.2 Vendors must possess any necessary licenses, permits, certifications, or registrations required to conduct their business and provide their products or services. 4.3 Vendors are responsible for staying informed about changes to laws and regulations that may affect their relationship with AdviceScout. They must promptly notify us of any potential non-compliance.
5. QUALITY AND PERFORMANCE 5.1
Vendors are expected to deliver high-quality products or services that meet or exceed the specifications and requirements agreed upon in the contractual agreements. 5.2 Vendors must fulfill their obligations in a professional, timely, and efficient manner, adhering to industry best practices and relevant quality standards.
6. CONFIDENTIALITY AND DATA PROTECTION 6.1
Vendors may have access to confidential and proprietary information of AdviceScout during the course of their engagement. They must treat all such information as confidential and use it solely for the purpose of fulfilling their obligations to AdviceScout. 6.2 Vendors must implement reasonable measures to protect the confidentiality, integrity, and security of any confidential information provided by AdviceScout. They must also comply with all applicable data protection laws and regulations.
7. INTELLECTUAL PROPERTY RIGHTS 7.1
Vendors acknowledge and agree that all intellectual property rights, including copyrights, trademarks, trade secrets, patents, and other proprietary rights associated with any work, invention, or deliverables created during the engagement with AdviceScout shall belong to AdviceScout or its licensors. 7.2 Vendors must not use or disclose any AdviceScout intellectual property without prior written consent from AdviceScout.
8. ETHICS AND BUSINESS CONDUCT 8.1
Vendors must conduct their business activities with the highest ethical standards and in compliance with applicable laws and regulations. 8.2 Vendors must avoid any conflicts of interest that may compromise their objectivity, impartiality, or integrity when dealing with AdviceScout. 8.3 Vendors must not engage in bribery, corruption, fraud, or any other illegal or unethical practices.
9. INSURANCE AND LIABILITY 9.1
Vendors may be required to maintain appropriate insurance coverage, such as general liability insurance, professional liability insurance, or workers’ compensation insurance, as applicable to their products or services. 9.2 Vendors are responsible for any liabilities arising from their products, services, or actions. They agree to indemnify and hold AdviceScout harmless from any claims, damages, losses, liabilities, and expenses arising out of or related to their products, services, or actions.
10. BUSINESS CONTINUITY AND DISASTER RECOVERY 10.1
Vendors should have a business continuity and disaster recovery plan in place to ensure the uninterrupted provision of their products or services in case of disruptions or emergencies. 10.2 Vendors must promptly notify AdviceScout of any potential disruptions or incidents that may affect the provision of their products or services to AdviceScout.
11. COMPLIANCE WITH VENDOR POLICY 11.1
Vendors are expected to comply with the requirements and provisions outlined in this Vendor Policy. Failure to comply may result in corrective actions, including but not limited to contract termination, suspension of business relationships, or legal remedies.
12. MODIFICATIONS TO VENDOR POLICY 12.1
We retain the right to modify or update this Vendor Policy at any time without prior notice. Vendors will be provided with the revised Vendor Policy, and their continued engagement with AdviceScout will signify their acceptance of the updated terms.
AdviceScout LTD
20-22 Wenlock Road, London N1 7GU,United Kingdom