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64 Annual Report 2012
3.4 Suppliers / Business partners
• SET strictly complies with contractual obligations and agreements and seeks to notify suppliers/contractors as soon
as possible if obligations may not be fulfilled, in order to find acceptable resolutions in a timely manner.
• SET has a written anti-corruption policy specifying rules and regulations to fight corruption which all staff must strictly
comply with. This policy’s purpose is to build trust for all stakeholders in the SET Group, ensuring that SET will operate honestly
and transparently, including supporting all activities against corruption.
• SET does not accept monetary or non-monetary gifts from its business partners, suppliers, customers, creditors or any
other person they are dealing with on behalf of SET. SET stipulates the evident guidelines preventing from unclear, unfair and
corruption in business conduction.
• In seeking suppliers/business partners, SET has clear and transparent procedures to conform to procurement regulations
and guidelines. SET has written policies which all SET Group executives and staff must comply with strictly. Such procedures of
seeking suppliers/business partners include:
- Prescribing required qualifications of suppliers/business partners and disseminating this information equitably and
broadly.
- Prescribing clear criteria for selecting suppliers/business partners on the basis of benefits to SET approved by the
procurement committee, whose members are appointed by the president.
- Ensuring that dealing with suppliers/business partners under written agreements and fair conditions.
- Having an inspection committee whose members are selected by the president. Inspection committee members are
independent of the procurement committee in order to have checks and balances in reviewing progress made at each
stage of a project before approving payment timely as specified in the agreement.
3.5 Creditors
• Strict abiding with contractual conditions and financial obligations. If SET is unable to honor any term or condition, it must,
without delay, inform its creditors in advance, in order to seek alternative solutions together and protect against loss or damages
that may occur.
• Operate its business to ensure that creditors trust in SET’s financial status and solvency.
• Disclosed financial information correctly, sufficiently and frequently.
3.6 Competitors
• SET competes fairly and does not seek to find information about competitors through dishonest, illegal, or illicit means.
SET does not slander or discredit its competitors.
3.7 Government sector
• SET supports the government’s policies and operations and complies with all regulatory requirements and policies and
collaborates with governmental agencies to build national stability and growth.
3.8 Society, community, and the environment
• SET conducts its business with responsibility to society and the environment, and strongly supports all employees to get
involved in corporate social responsibility activities (for a list of selected such activities, see the SET CSR Report 2012) .