PetraSources


whatever you need, whenever and wherever you need it...

Key Policies

Key Policies

Purchasing is chartered with full responsibility for the procurement of goods and services and to conduct all purchasing negotiations with suppliers. Therefore, large or small, we need your interest and support in meeting the following policies and procedures:

Intellectual Property Right Protection

PetraSources respects the intellectual property rights of others-business associates, suppliers, and competitors alike. PetraSources is committed to the protection of supplier’s confidential information and insists on the same dedication to protection of our disclosed confidential information. Furthermore, it is a requirement that our mutually protective Corporate Nondisclosure Agreement be signed by the supplier and PetraSources before the disclosure or exchange of any confidential information takes place. When PetraSources sells products, it provides indemnity against third party intellectual property claims. Conversely, when PetraSources is the customer, it requires supplier infringement indemnification against intellectual property rights claimed by third parties.

Ethics

Purchasing will conduct itself ethically and fairly in relation to the suppliers with whom PetraSources does business. More information on Supplier ethics expectations and code of conduct is available along with training materials.

Gratuities

PetraSources personnel and members of their families are prohibited from accepting gifts or gratuities of any form from current or potential suppliers. Acceptance of such offerings may be interpreted as an attempt to improperly influence decisions. Unsolicited advertising or promotional items with logos are acceptable as long as their value is less than $25.00.

Reciprocity

While PetraSources may sell its products to its suppliers, it is against PetraSources policy to require a supplier to purchase our products as a condition for PetraSources doing business with that supplier.

Publicity

PetraSources maintains a strict policy that neither party may use the other’s name in advertisements, press releases, design win announcements, or business level disclosure without prior written notice.

Supplier Diversity

At PetraSources, supplier diversity is a key component of corporate responsibility encouraging the use of previously under-utilized/under-represented owned vendors as suppliers. Our supplier diversity initiative aims to promote opportunities for diversity suppliers and enhance their capabilities.

What defines a diversity supplier is not the same around the world. We recognize these differences and model our efforts to reflect the governmental or cultural guidelines of each country in which we operate.

In the United States our criteria is 51 percent owned and operated by an under-represented socio/economic group or is "minority controlled" by 30 percent of its voting stock, board of directors and management; and third-party certification through one of the following organizations or agencies:

Small Business Administration (SBA)
Federal, State, Local government
Councils and Chambers of Commerce

It is not necessary to have third-party certification to do business with PetraSources; however, certification is the process by which we can verify that businesses meet the criteria of a diversity supplier, ensuring the credibility, reliability and accuracy of our supplier diversity initiative.

Controlled Substances

To ensure a drug and risk free environment, suppliers are required to support our policy which prohibits the use, sale, or possession of illegal drugs and alcoholic beverages on PetraSources premises or work areas.

Environment, Health and Safety

PetraSources expects suppliers to understand and fully comply with all applicable international, national, state and local laws and regulations, including, but not limited to, all environmental, health and safety (EHS) and related laws and regulations. In addition, suppliers must agree to abide by all PetraSources rules, including but not limited to, all applicable EHS policies, procedures and guidelines. Further, to the extent that suppliers obtain, use, handle, or transport and hazardous materials (as defined by any law, standard or practice) on our property or to perform work for PetraSources, suppliers must warrant that they understand the nature and hazards associated with the use, handling and transportation of any such materials. Suppliers also must (i) agree to be fully responsible and indemnify PetraSources for any liability resulting from the use, handling or transportation of hazardous materials by suppliers or their contractors, and (ii) have in place decision, management, control and continuous improvement systems to effectively manage the product safety of such materials.