About Us

Good Corporate Governance

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Procurement Policy

1. General Requirement

1.1 Purpose

     This policy is intended to enable the Company to deliver services that comprehensively align with the needs of customers, prospective customers, and business partners, in accordance with circumstances, by providing guidelines for procurement activities

1.2 Scope

     This policy applies to personnel of the Company and its subsidiaries. All personnel must study, understand, and strictly adhere to it.

1.3 Effective Date

     This policy shall be effective from the date of approval by the Board of Directors.

1.4 Review Frequency and Revision

     This policy must be reviewed annually, or when a significant change arises.

     Any significant revisions, review, or renewal of this policy are subject to approval by the Board of Directors. Meanwhile, insignificant revisions are subject to approval by the Management Committee (MC) and/or relevant subcommittees before being submitted to the Board of Directors for acknowledgement.

1.5 Responsible Function

     The Accounting and Finance Division (Procurement section) is the responsible function of this policy.

2. Main Requirement

2.1 Definition

  2.1.1 “The Company” means Bangkok Life Assurance Public Company Limited.
  2.1.2 “Subsidiary” means companies in which the Company holds shares directly or indirectly of more than 50%.

2.2 General Principle

     This policy is designed to ensure that the Company's operations comply with the established objectives, laws, and regulations. Therefore, it is deemed appropriate to require the Board of Directors, executives, and employees to strictly adhere to it.

2.3 Requirement

  2.3.1 To conduct procurement activities for the utmost benefits of the Company by, considering economic, social, and environmental aspects, in compliance with applicable legal requirements, policies, announcements, orders, and regulations of the Company, and in alignment with the principles of corporate governance, while emphasizing sustainable management and collaboration with suppliers.
  2.3.2 To select suppliers in a systematic, fair, and transparent, with stringent control measures in place, and to support suppliers who conduct business ethically and demonstrate social and environmental responsibility, while exercising. Caution in engaging with individuals or entities that commit legal violations or corruption, or exhibit corrupt behaviors.
  2.3.3 To strictly comply with safety, occupational health, and environmental regulations, under the law, and to conduct business with due regard for its impact on communities and society, while participating in community and social development initiatives as appropriate.
  2.3.4 To Promote and support environmentally friendly products, the development of technologies to save energy, and reduce environmental pollution, and the implementation of waste management systems that exceed legal standards, and integrate these efforts into management to ensure the delivery of high-quality, safe, and environmentally friendly products and services to the company’s stakeholders.