Code of Ethics

1. Give first consideration to the objectives and policies of the Institute for Advanced Study.

2. Strive to obtain the maximum value for each dollar of expenditure.

3. Decline with grace personal gifts or gratuities.

4. Grant all competitive suppliers equal consideration insofar as state or federal statute and the Institute for Advanced Study's policies permit.

5. Conduct business with potential and current suppliers in an atmosphere of good faith, devoid of intentional misrepresentation.

6. Demand honesty in sales representation whether offered through the medium of a verbal or written statement, an advertisement or a sample of a product.

7. Receive consent of originator of proprietary ideas and designs before using them for competitive purchasing purposes.

8. Make every reasonable effort to negotiate an equitable and mutually agreeable settlement of any controversy with a supplier and/or be willing to submit any major controversy to arbitration or third-party reviews, insofar as the established policies of the Institute for Advanced Study permit.

9. Accord a prompt and courteous reception insofar as conditions permit to all who call on legitimate business missions.

10. Cooperate with trade, industrial and professional associations and with governmental and private agencies for the purpose of promoting and developing sound business methods.

11. Foster fair, ethical and legal trade practices.

12. Counsel and cooperate with NAEP and members of other professional procurement organizations to promote a spirit and keen interest in the expansion and growth of all aspects of procurement.