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Vendor Management Policy

On the basis of trust and cooperation with vendors, Doosan Infracore provides support for vendors to bring innovation in cost management, quality control and supply & demand. We offer quality innovation activities, management guidance / support and training.

Criteria and Procedures for Cancelling Vendor Registration

Criteria for Cancelling Vendor Registration

  • Any vendor that violates any provision of a purchasing contract or any separate special agreement with Doosan Infracore.
  • Any vendor whose business is suspended or cancelled by competent authorities; or whose crucial business assets are under provisional seizure, provisional injunction, or compulsory execution by a third party or who files for bankruptcy or liquidation.
  • Any vendor whose promissory notes or checks are suspended.
  • In case both parties agree that the contract can be hardly fulfilled due to fire, natural disasters or any other unavoidable reasons.
  • Any vendor whose business is subject to administrative measures such as business suspension for 2 months or longer.
  • Any vendor who decides to transfer its obligations to a third party or merges with a third party without prior approval by Doosan Infracore.
  • Any vendor who repeatedly delays the delivery of goods or refuses to fulfill a confirmed order without valid reasons.
  • In case both parties agree that the contract can be hardly fulfilled due to reasons including bankruptcy.
  • In case a vendor returns parts.
  • In case a model is discontinued.
  • Any vendor that is deemed not to meet the standards to continue business or deemed impossible to make improvement in accordance with Doosan Infracore’s periodic or non-periodic evaluation results.

Criteria for Cancelling Vendor Registration

  • A transaction cancellation notice will be sent to the vendor
  • A response period of at least 15 days from the date on which the vendor accepts the notice will be specified to enable the vendor to raise objections.
  • Discussion will be held over the vendor’s response and as to whether to cancel or continue the partnership.
  • The business partnership will be cancelled in case no response is received within the designated time period.

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