The procurement policy enables us to support our value chain with transparent and fair transactions, ethical communication and compliance with the region’s regulatory laws.
- No Marafiq employee is authorized to commit to any supplier or contractor in any way unless he has been furnished with a PO, contract or LOI, duly authorized in terms of the company’s policies and procedures and Marafiq Delegation of Authority (MDOA).
- No changes shall be permitted to any contract without a Contract Change Order and amendment of the Purchase Order duly approved by the authorized signatory.
- A bid bond/guarantee shall be required for all proposals with a total value of Ten Million Saudi Riyals (SR 10,000,000) or above. The value of the bid bond/guarantee shall be one percent (1%) of the total bid.
- The contractor shall be required to submit performance security which is five percent (5%) of the total contract price and which shall remain valid for the entire contract and warranty period.
- Marafiq shall contract or purchase materials and services for work to be performed in Saudi Arabia only from vendors or contractors who are properly licensed and/or commercially registered by the Saudi Arabian relevant authorities. However, in certain circumstances where it is in the best interest of Marafiq, contracts with due approval of Marafiq authorities in accordance with Marafiq DOA may be awarded to GCC and/or foreign entities.
- Pursuant to government Vision 2030, Marafiq's business policy is aligned with the development of local skills, resources, technology transfer, and use of local manufacturers by making them partners in value creation inside the Kingdom of Saudi Arabia.
- The Local Content Program aims to create jobs, promote enterprise development and accelerate the transfer of skills and technologies. Local content is a strategic initiative for Marafiq Business, presenting both challenges and opportunities.
- The effective implementation of the local content strategy is critical for Marafiq to contribute sustainable development while protecting Marafiq's interests.
- Marafiq will be investing in skills, innovative tools and approaches aimed at meeting local content requirements and contributing sustainable national economic growth. At the same time, these efforts protect and enhance Marafiq's own commercial and operational interests.
