AIG Business Solution Pvt Ltd

Vendor Single Point of Contact Policy (SPOC)

Effective from 20th February, 2024

 INTRODUCTION
Vendor single point of contact policy are the part of Quality
Management System that guarantees the processing of vendor invoice
in timely, accurately manner with maintaining healthy relationship with
them.

The given instructions and criteria mentioned in the policy considered a

main objective which is to guarantee that the goods & services are
procured in effectively manner and through the legitimate reliable
channels.

The above objective are considered as shared responsibility of the

concerned stakeholder, the department in charge and AP team.
Vendor Contract Policy
1. Initiation of Contract negotiation with vendors can be done by any
person with keeping in loop Accounts and legal team.
2. Finalization and signing of contract can be done only by Dr.
Ramesh Gupta.
3. For the one time activity we need to review and update all the
existing contracts on the date of implementation of this policy.

Vendor Creation
1. Send Vendor registration form to Vendor.
2. Collect the required information from the Vendor.
3. Update the Vendor master once in a year.

Order to Vendor
1. All orders to vendors should mark to AP team.
2. AP team will check with Contract copy.
3. If contract copy not in place, AP team will discuss with Vendor.
4. AP team to have name of Sales Representative and Accounts
receivable person details account wise from Vendor.
Goods Return to Vendor
1. If any goods received from vendor are not in conformity of our
requirement or any other reason, details of the same should be
shared with AP team.
2. AP team will review the contract and discuss with the vendor.
3. No goods can be sent to vendor without taking approval from AP
team.
4. AP team on return of goods will take confirmation from vendor of
receipt.

Payment to Vendor
1. AP team will update of payment release to vendor.
2. AP team will take confirmation from vendor of payment receipt.