Vendor Policy

Credknow Solutions Private Limited

1. Purpose

This Vendor Policy outlines procedures for engaging, managing, and evaluating vendors to ensure that all third-party relationships support Credknow's operations responsibly, ethically, and in compliance with applicable legal and regulatory standards.

2. Scope

  • All vendors, suppliers, contractors, and service providers.
  • Internal departments responsible for vendor lifecycle management.

3. Objectives

  • Ensure vendor engagement is fair and value-driven.
  • Mitigate legal, financial, and operational risks.
  • Maintain transparency and accountability.
  • Ensure regulatory and ethical compliance.

4. Vendor Classification

  • Critical Vendors: Vendors crucial to core operations (e.g., tech providers, KYC partners).
  • Non-Critical Vendors: Vendors offering support services (e.g., housekeeping).

5. Vendor Selection Criteria

  • Financial and operational stability.
  • Legal and regulatory compliance.
  • Technical expertise and resource capacity.
  • Cybersecurity practices.
  • Performance history and ESG standards (if applicable).

6. Onboarding and Documentation

  • Signed Vendor Agreement and NDA (if required).
  • Submission of PAN, GST, registration, and bank details.
  • Compliance declarations.
  • Maintenance of vendor data in a centralized database.

7. Code of Conduct for Vendors

  • Operate ethically and legally.
  • Refrain from corrupt or fraudulent practices.
  • Maintain transparent communication.
  • Protect confidential information.
  • Disclose any conflicts of interest immediately.

8. Data Security and Confidentiality

  • Comply with Credknow’s Data Security and Privacy Policies.
  • Use encryption and access controls.
  • Report any data breach or security incidents immediately.

9. Performance Monitoring

  • Regular SLA and KPI reviews.
  • Quarterly performance evaluations.
  • Compliance audits for high-risk vendors.
  • Corrective actions for underperformance.

10. Payment Terms

  • Clear terms defined in the Vendor Agreement.
  • Payments via formal banking channels.
  • Tax-compliant invoicing required.

11. Termination of Vendor Relationship

  • Contract breach or non-compliance.
  • Unethical or fraudulent conduct.
  • Insolvency or business discontinuation.
  • Immediate termination rights in critical cases.

12. Review and Updates

This policy will be reviewed annually or in response to significant regulatory or operational changes. Updates must be approved by senior management.

13. Conclusion

Credknow upholds strong vendor governance to build a secure and ethical ecosystem. This policy ensures all vendor engagements align with strategic, operational, and compliance standards.