Supplier Selection and Compliance Policy


The policies set forth in this document specify our Bank expectations in selecting new suppliers, and the behaviour expected to be complied with by our present suppliers, and our product/service continuity expectations.


Issues required to be complied with by our suppliers providing the products and services in domestic and international markets to meet the needs of our Bank’s Head Office and regional organizations, on legal compliance, human rights, service continuity, anti-bribe and anticorruption, confidentiality and sustainability.

Compliance with Legislation:

Suppliers providing products and/or services to our Bank are primarily expected to comply with all legal legislation in effect/to be put into effect, and provisions of agreements signed with the suppliers, and specifications, and particularly the confidentiality provisions. It is undertaken in the signed agreements that the suppliers shall comply with all legal legislation in effect / to be put into effect, and the agreement provisions.

Service Continuity:

While the continuity of services procured from our suppliers is essential, it is undertaken in the product/service agreements executed by the suppliers that, upon expiry/termination of the agreement for any reason, the suppliers shall continue to provide services to ensure the service continuity for the duration required by our Bank.

Anti-Bribe and Anti-Corruption:

In order to become our supplier, companies are required to accept our Anti-Bribe and AntiCorruption provisions stated in our agreements. Provisions of the relevant article are summarized as follows;

  • In negotiation, execution and implementation of this agreement parties shall act in compliance with applicable anti-bribe and anti-corruption legislation, and shall not take any action that may result in violation thereof, and shall not give/take, offer/request or promise any financial gift or any benefit to/from any person, and shall not authorize or allow any such action, and shall comply with relevant VAKIFBANK policies.
  • Parties undertake to take all necessary and reasonable measures to prevent corruption and bribe. In connection with the provisions above, Parties shall not, directly or indirectly offer, commit or give, or otherwise cause or permit the offering, committing or giving by third persons, any benefit or advantage (e.g., cash, high value gifts, or sports event or concert tickets, inter-city travels, cultural events etc. invitations not essentially related to the business) to other Party’s any employee, business partner, executive body members or their relatives or any third person, including employees of affiliates.
  • Parties shall promptly inform the other Party upon becoming aware of any corruption in relation with discussions, conclusion or fulfilment of this agreement, or upon significant doubt of any bribe and/or corruption.
  • Upon violation of the obligations in the paragraphs above, our Bank shall be authorized to terminate all present agreements signed with the relevant supplier, without notice and any without any liability to pay compensation.

Supplier Selection:

Our Bank’s Purchase, Sale and Tender Regulation prohibits our Bank’s Board of Directors’ chairman and members, auditors, tender commission chairman and members, and those who prepare the tender processes, including their spouses and relatives by blood and marriage up to (and including) second degree, from participating in the Bank’s tenders.

In addition, most eligible supplier is being selected by considering the nature and specifications of the business, to ensure that tenders are held in transparency, competition, equal treatment, security, confidentiality conditions, and meet the need at the most convenient prices and terms and on time. Our Bank aims at working closely with the suppliers to benefit from suppliers’ environment-friendly products and services, and attempts to ensure sustainability throughout the supply chain. As an alternative, our Bank utilizes e-tender method, and technological means in selection of our suppliers.

Competency of Supplier:

Supplier nominees are assessed as to having necessary know-how, experience, equipage and competency related to the product/service required by our Bank, before working with those suppliers. It is expected to ensure continuity in supply and quality and meet our additional demands. Particularly, for sustainability of service, it is important for our Bank that the suppliers are competent in the product/services supplied.

Human Rights:

The suppliers are expected to respect universal human rights and prevent violations of human rights, and to show equal treatment among employees without discrimination as to gender, language, religion, race, ethnic origin, sexual orientation, age, pregnancy, marital status, union membership, political opinion and likewise. The suppliers are expected to provide all their employees with suitable working conditions and act with “zero accident” target in all activities.

The suppliers are expected to comply with the provisions of the Labour Law number 4857 and relevant legislation and not employ children within the scope of the legislation.

Upon breach of the abovementioned matters, it shall be attempted to work with the suppliers to ensure compliance with the legislation, however, upon continuation of the breach, working with the relevant supplier shall be terminated.


A Confidentiality Agreement is to be signed with the suppliers that set forth the principles and procedures on usage, sharing and protection of confidential information obtained by or provided to the parties during or in connection with and/or as a result of the businesses or activities that require sharing of information, or the discussions, tenders, negotiation preparation works (offer, exchange of opinions etc.) regarding such businesses or activities, including but not limited to procurement of goods, services or consultancy service.