Vendor Terms & Conditions

1. Introduction

These Vendor Terms and Conditions ("Vendor Terms") govern the relationship between Vel Amrith Company Limited ("Company," "we," "our," or "us") and suppliers, contractors, subcontractors, and other business partners ("Vendor," "you," or "your") who provide goods or services to the Company. By registering as a vendor or providing services to us, you agree to be bound by these Vendor Terms.

2. Vendor Registration and Qualification

2.1 Registration Requirements

To become a qualified vendor, you must:

• Provide accurate and complete registration information
• Hold valid business licenses and certifications
• Demonstrate financial stability and creditworthiness
• Comply with all applicable laws and regulations
• Meet our quality, safety, and performance standards
• Provide required insurance coverage and bonds

2.2 Vendor Evaluation

We reserve the right to evaluate vendors based on criteria including but not limited to experience, capabilities, quality standards, financial stability, safety record, and compliance history. Registration does not guarantee work assignments.

3. Service Standards and Requirements

3.1 Quality Standards

All vendors must:

• Deliver services in accordance with agreed specifications
• Maintain high-quality workmanship and materials
• Follow industry best practices and standards
• Comply with our quality management system requirements
• Participate in quality inspections and audits

3.2 Safety Requirements

• Maintain valid safety certifications and training
• Comply with all applicable safety regulations
• Follow Company safety policies and procedures
• Report safety incidents and near-misses promptly
• Provide appropriate personal protective equipment

4. Commercial Terms

4.1 Pricing and Payment

Pricing and payment terms will be specified in individual purchase orders or contracts. Standard terms include:

• Competitive pricing for goods and services
• Net 30-day payment terms from invoice approval
• Requirement for detailed invoices with supporting documentation
• Compliance with applicable tax regulations

4.2 Purchase Orders and Contracts

All work must be authorized by written purchase orders or contracts. Vendors may not proceed with work without proper authorization. Changes to scope or pricing require written approval.

5. Insurance and Liability

5.1 Insurance Requirements

Vendors must maintain appropriate insurance coverage including:

• General liability insurance (minimum SAR 1,000,000)
• Professional indemnity insurance (where applicable)
• Workers' compensation insurance
• Vehicle insurance for company vehicles
• Equipment and property insurance

5.2 Indemnification

Vendors agree to indemnify and hold harmless Vel Amrith Company Limited from any claims, damages, or losses arising from the vendor's performance, negligence, or breach of these terms.

6. Compliance and Legal Requirements

6.1 Legal Compliance

Vendors must comply with:

• All applicable laws and regulations in Saudi Arabia
• Labor laws and worker rights
• Environmental protection regulations
• Building codes and construction standards
• Anti-corruption and anti-bribery laws

6.2 Ethical Standards

We expect all vendors to maintain high ethical standards, including fair labor practices, environmental responsibility, and honest business dealings. Any violations may result in termination of the vendor relationship.

7. Confidentiality and Intellectual Property

7.1 Confidential Information

Vendors may have access to confidential information including:

• Project specifications and designs
• Client information and requirements
• Business strategies and financial information
• Technical drawings and proprietary methods

All confidential information must be protected and not disclosed to third parties without written consent.

7.2 Intellectual Property

Any work products, designs, or intellectual property created specifically for the Company shall be owned by Vel Amrith Company Limited unless otherwise agreed in writing.

8. Performance Monitoring and Evaluation

8.1 Performance Metrics

Vendor performance will be evaluated based on:

• Quality of work and deliverables
• Timeliness and schedule compliance
• Safety performance and incident rates
• Cost competitiveness and value
• Communication and collaboration
• Compliance with terms and conditions

8.2 Continuous Improvement

We encourage vendors to participate in continuous improvement initiatives and may provide feedback and recommendations for enhancing performance and capabilities.

9. Termination and Suspension

We reserve the right to terminate or suspend vendor relationships for reasons including:

• Breach of these Vendor Terms
• Poor performance or quality issues
• Safety violations or incidents
• Legal or compliance violations
• Financial instability or bankruptcy
• Changes in business requirements

Termination may be immediate for serious breaches or with reasonable notice for other reasons.

10. Dispute Resolution

Any disputes arising from vendor relationships shall be resolved through good-faith negotiations. If resolution cannot be achieved, disputes shall be subject to arbitration in accordance with Saudi Arabian arbitration rules and procedures.

11. Governing Law

These Vendor Terms shall be governed by and construed in accordance with the laws of the Kingdom of Saudi Arabia. All disputes shall be subject to the jurisdiction of Saudi Arabian courts.

12. Changes to Vendor Terms

We reserve the right to modify these Vendor Terms at any time. Changes will be communicated to registered vendors and will be effective upon the date specified in the notice.

13. Contact Information

For questions about these Vendor Terms or vendor-related matters, please contact: