Basis for cooperation
This also applies to the cooperation with suppliers, whom Commerzbank expects to act responsibly and businesslike. Our daily dealings with each other must be based on our shared values. Especially in the finance industry, it is vital that all business activities not only comply with all laws, regulations and internal rules but are also guided by ethical principles.
On the following pages, you will find more detailed information about compliance, responsibility and efficiency.
The standards include compliance with all laws, regulations and internal rules in all business activities and adherence to ethical principles. Commerzbank is emphatically committed to this and has based its procurement process on this compliance. Purchasing decisions are made independent of pressures and personal interests as the staff follow internal rules and involve the Corporate Procurement department in the procurement of resources. Commerzbank also expects its suppliers to act with integrity in all business processes. Irregular behaviour will not be tolerated and can lead to the business relationship being terminated. The integrity clause is therefore also a fundamental element of our supplier agreements. Commerzbank attaches particular priority to preventing and combating corruption. The compliance programme to combat corruption also involves all business partners active on behalf or in the name of the bank, and also applies to all supplier relationships. Commerzbank attaches particular attention to business relationships affected by sanctions or countries that are subject to sanctions.
Commerzbank’s collaboration with suppliers and service providers is based on defined requirements. Suppliers and service providers are required to comply with applicable legal, regulatory and contractual requirements. Where contractually agreed, relevant requirements are to be communicated to downstream suppliers.
The Standard on Responsible Procurement and the Code of Conduct define binding requirements for collaboration with suppliers and service providers. The specified criteria reflect Commerzbank’s expectations regarding the corporate responsibility of its business partners.
As Global Functional Lead, Corporate Procurement establishes group‑wide, binding standards for the procurement of products and services, taking into account cost-effectiveness, quality, risk and defined supplier requirements.
From Commerzbank's perspective, efficient means:
- Well-established suppliers that are strong on innovation make important contributions to helping Commerzbank to meet the present and future requirements of its customers.
- Digitalisation is firmly established in the supplier's business and represents the basis for efficient processes, simplifying the communication and cooperation with Commerzbank.
- We expect professionalism and experience in collaborating with a multi-national Group from our suppliers.
