Azets Wealth Management is committed to conducting dealings with its suppliers to the highest standards of quality and integrity. We treat our suppliers fairly and strive to build great relationships with them, working together to drive the best possible value for our clients whilst also consciously reducing the impact of our activities on the natural environment and contributing positively to the societies and communities in which we collectively operate.
This Charter sets out the minimum standards of business conduct we expect from our suppliers. The following stated principles are all material considerations for Azets Wealth Management when selecting new suppliers and evaluating our existing supplier relationships.
This Supplier Charter applies to any organisation that either contracts directly with Azets Wealth Management to supply goods and/ or services or contracts with Azets for the purpose of serving Azets clients. Where suppliers use approved subcontractors or instruct a third party perform services for Azets, Azets expects its suppliers will ensure those third parties perform services consistent with this Charter.
Azets Wealth Management acknowledges that this Charter will not address every situation that suppliers may encounter. This Charter must not be used as a substitute for supplier’s own responsibility to exercise good judgement.
Azets want to work with Suppliers to ensure compliance with this Charter. With prior notice, we may conduct reasonable audits and surveys to ensure compliance. In addition, and where appropriate, Azets may conduct risk based due diligence on suppliers as part of assessing their relationship with suppliers.
Suppliers should report any violation of this Charter. Similarly, if suppliers witness or suspect that an Azets Wealth Management employee, or anyone acting on behalf of Azets, is engaging in illegal or otherwise improper conduct, or are in breach of this Charter, they should report this matter to Azets Wealth Management via the below confidential channel.
Azets requires that all suppliers it engages deploy the highest standards of ethical conduct and comply with the local laws and regulations in the countries in which they operate. Azets Wealth Management expects suppliers to respond to any due diligence requests truthfully and in a timely manner.
Corruption, bribery and financial crime
Azets strictly does not work with, or involve itself with, any suppliers involved bribery or corruption of any form and expects suppliers to conduct themselves ethically and morally, respecting local laws.
Azets does not tolerate economic crime of any sort, including fraud, tax evasion, money laundering or terrorist financing activities. Azets requires its suppliers to apply the same standards. Any supplier working on behalf of Azets must not enter into any arrangement, or provide any services that facilitates, or may constitute, Azets being directly or indirectly involved with economic crime.
Conflicts of interest
Suppliers shall not allow bias, conflict of interest, or inappropriate influence of others to override its professional judgments and responsibilities. If a supplier becomes aware of a potential or actual conflict of interest, or a specific situation that may impact its engagement with Azets or otherwise, they must notify Azets as soon as they become aware.
Azets recognises human rights as the basic right that every individual should have, including the freedom to lead a dignified life, free from fear and free to independent beliefs. Azets maintains working conditions and practices that are compliant with internationally declared human rights and standards, including those set out in the United Nations’ Universal Declaration of Human Rights (UNUDHR) and the International Labour Organisation (ILO) fundamental conventions on labour rights and we expect our suppliers to uphold the same standards.
Modern Slavery and Human Trafficking
We forbid human trafficking, the use of all forms of forced or compulsory labour and any other form of modern slavery. Azets expects its suppliers to apply the same standard and to maintain an active view on the inherent risk of modern slavery in their supply chains and global operations, including steps to ensure human trafficking and any form of modern slavery are not taking place. Adherence to the conditions set out in the Modern Slavery Act 2015 are a material consideration in new and on- going supplier evaluations.
Wages and Hours
Suppliers must set wages, working hours and overtime pay in accordance with the laws and regulations in the relevant jurisdiction(s) in which they operate.
Supplier must adhere to local laws regarding minimum working age of employees and must not, directly or indirectly, engage in the employment of child labour.
Freedom of association
Suppliers should respect the legal rights of workers to freedom of association and not hinder the rights of workers to legally join or organise associations. Further, workers should not face discrimination or intimidation in choosing to do so.
Azets encourages an environment where business standards are clearly communicated and understood, and that there are clear channels for workers to communicate with management openly without threat of retaliation, harassment or intimidation.
Health and Safety
Suppliers should make proper provisions for the health, safety and welfare of all employees. Suppliers are expected to provide workers with a safe and healthy working environment and take necessary precautions to prevent accidents and injury.
Diversity and Inclusion
Azets suppliers are expected to value and to promote diversity within their workforce and foster a culture the seeks to promote equal opportunity for all. Azets will not tolerate suppliers’ discrimination on the grounds of gender, race, religion, health condition, gender identity, sexual orientation, or those categories protected by local law. Suppliers must take measures to prevent bulling and harassment.
As an international company, we recognise our responsibility to protect the environment and to mitigate any impact our activities may have. This includes the impact of our working practices and those of our suppliers.
Azets expect suppliers to identify and manage the environmental impacts of their operations and to engage in initiatives to promote environmental responsibility, effective waste management and efficient use of natural resources.
Suppliers are expected to have an Environmental Policy in place and to actively promote this internally to ensure awareness. Suppliers should also regularly and accurately report, both internally and externally, performance in accordance with all applicable legal and regulatory requirements.
Personal data and confidential information for Azets is deemed private and confidential if it is not publicly available and/ or if it has commercial value to Azets. Suppliers may obtain personal data and confidential information as part of their role in which we engage them or from our employees, clients and partners.
Suppliers shall handle and disclose personal data and confidential information only as authorised and directed by Azets, and in accordance with the laws and directives in the jurisdiction in which they operate. This includes the UK General Data Protection Regulation (UK GDPR), The Data Protection Act 2018 and the EU General Data Protection Regulation (EU GDPR).
Suppliers must take action to protect against accidental or unlawful destruction, loss, alteration, unauthorised disclosure of, or access to, personal data and confidential information transmitted, stored or otherwise processed
Suppliers must notify Azets immediately if they believe they have given access to Azets personal data or confidential information in error.
Suppliers must also inform Azets immediately if they have experienced a personal data breach involving personal data or confidential information of which Azets is the controller.
Azets is committed to protecting the information entrusted to it, as well as IT and physical assets and a number of information security controls in place to meet this commitment. Equally, Azets expects the highest standards of information security for suppliers, irrespective whether this information is ours, our clients or our employees.
To ensure maintenance and protection of information obtained from Azets, Azets clients and / or Azets employees, suppliers are required to have an appropriate level of information security controls, polices and protocols in place, provide regular training on information security to all employees and have implemented risk management protocols (including internal audits and risk audits). This will be assessed as part of Azets due diligence process.