Procurement Code of Ethics
Babson College adheres to the following principals that are based in part upon the Code of Ethics established by the National Association of Educational Buyers, New England:
- Give first consideration to the objectives and policies of Babson College.
- Strive to obtain the maximum value for each dollar of expenditure.
- Decline personal gifts or gratuities.
- Grant competitive and qualified suppliers equal consideration insofar as state or federal statute and institutional policy permit.
- Conduct business with potential and current suppliers in an atmosphere devoid of intentional misrepresentation.
- Demand honesty in sales representation whether offered through the medium of a verbal or written statement, an advertisement, or a sample of the product.
- Receive consent of the originator of proprietary ideas and designs before using them for competitive purchasing purposes.
- Accord a prompt and courteous reception insofar as conditions permit to all who call on legitimate business missions.
- Cooperate with trade, industrial and professional associations, and with governmental and private agencies for the purposes of promoting and developing sound business methods.
- Foster fair, ethical and legal trade practices.
- Strive to manage our businesses in a sustainable and responsible way and seek to do business with suppliers who share our concerns for and commitment to sustainable business practices.
It is the responsibility of each vendor to ensure that its representatives understand and comply with Babson College’s Code of Ethics.