The primary objective is to ensure the availability of materials and services and to purchase or acquire these from vendors who have the capacity to deliver and comply with the specifications amd terms and conditions. Meralco will promote fair dealings, which will result in obtaining the maximum value for the money spent.
Meralco will be directed by the following procurement policies:
- To promote an understanding of sound purchasing policy and procedure with the vendors and throughout all offices of Meralco.
- To uphold the reputation of Meralco for fair dealings, integrity and straight-forwardness.
- To promote competitive bidding and by providing all interested vendors equal opportunity to offer their products and services.
- To establish and maintain courteous, cordial, friendly, and businesslike relationships with vendors based on mutual trust and confidence.
- To develop and establish standards and specifications for supplies, equipment and services. Review and approve sole source requests and arrange for laboratory and other tests to ensure that specifications are met.
- To determine the most efficient and cost-effective means of securing an item or service by acquiring needed goods and services of acceptable quality, and providing them to the requisitioning offices and end-users when required.
- To keep abreast of the current developments in the field of purchasing, prices, market conditions and new products, and to communicate to vendors and other Meralco offices matters relevant to these circumstances.
Meralco engages the services of Suppliers that advocate the same corporate governance standards and business ethics, as prescribed in the Supplier's Business Conduct Policy.