Hindustan Aeronautics Limited (HAL) organised a Global Business Partners’ Meet of its vendors recently to apprise them of recent changes within HAL to speed up the process of procurement and make suppliers aware of various procedures, statutory requirements and adherence to Central Vigilance Commission (CVC) guidelines. Eighty-three vendors, 26 foreign and 57 from India, attended the day-long session. R.K. Tyagi, Chairman of HAL, stressed on the importance of integrity pact and introduction of e-procurement initiated by HAL. He called upon the vendors to play a wider role as HAL’s partner in progress. “We need to think beyond our relationship as purchaser and supplier.”
‘Integrity Pact’ is a tool to curtail corruption and promote fair practices in each and every large value transaction. Pre-contract ‘Integrity Pact’ is a binding agreement between HAL and bidders for a specific contract in which the parties promise that they will not resort to any corrupt practices in any stage of the contract.