Business Partners

Communication with suppliers

Bank Millennium attains stability in relations with partners thanks to providing reliable information about regulations binding in the Bank with respect to the process of purchasing goods and services.

Invitations to bid in tenders contain identical information for all participants. However selection criteria are not disclosed to bidders (risk of bid manipulation), but are prepared by a substantive unit and are verified by the Central Acquisitions Department.

Internal regulations

The Bank's internal regulations formalise the procurement process, including the stage of supplier selection, which is through tendering, in keeping with the principles.

In order to guarantee that the decisions are objective and that the bidders get equal treatment in tenders the bids are appraised by separate organisational units of the Bank as regards the technical vs. commercial merits.

Internal regulations concerning the procurement process include a provision on use of ethical and/or environmental clauses in agreements, where the clauses may be applied as well as about reflecting ethical and environmental standards when assessing potential suppliers.

Purchasing process improvements

The purchasing process is audited at least once a year and is subject to continuous improvement.

Improvements made so far concerned i.a. eliminating conflict of interests when arranging tenders; monitoring payments made to suppliers as well as checking quality of supplied goods and services.

More information: "Corporate Responsibility" report