Corporate Governance

Tradenet International Limited strive to comply with all local, national and international laws and corporate regulations, the sub-pages list our main undertakings….

Marketplace – Policy & Aims

We are committed to:

  • Pursuing a consistent strategy based on organic growth from mining business
  • Maintaining the highest standards of corporate governance
  • Serving the needs of our customers through long-term relationships
  • Maintaining high standards of service delivery
  • Conducting dealings with customers and suppliers in a transparent and equitable manner
  • Ensuring payments to suppliers are made in accordance with agreed terms
  • Ensuring payments to suppliers are made in accordance with agreed terms
  • Prohibiting bribes and favours in business dealings.

Customers

We recognise that meeting our customers’ needs is what will make us one of the UK’s most profitable niche market traders.  Our strategy of concentrating on organic growth from existing and new operations also means that our future success is linked intrinsically to our ability to identify and satisfy the present and future needs of our customers.

We aim to work in long-term partnerships and strive to ensure that the standard of our service is consistently high for both short and long term customers and throughout the length of any contract.  We will maintain a regular dialogue with our customers in order to understand and plan for the ongoing requirements of their needs and to keep them informed of developments within our business.  It is our policy to ensure that any product-delivery issue is resolved promptly. Our customers require products with long-term economic lifespan to secure their investments and, as a result, we will be able to achieve long-term commitments from them, which will enable us to make major investments in creating our future assets.  We conduct our customer relationships in an open and equitable way and will clearly communicated our own targeted minimum internal rate of return on investment of 15 per cent to all stakeholders.  This approach will benefit our customers by giving them the security of knowing that the products they need are available to them at a very reasonable cost and benefits our financial stakeholders by allowing us to grow our business in a relatively low risk way and providing visibility of future revenues.

Suppliers

The effective and efficient sourcing of materials, labour maintenance and revenue related expenditure is an important driver of our business performance.  We will work with a large number of suppliers to source a range of goods and services including: design and engineering, construction and construction management, plant and equipment, security, shipping, legal, financial and other professional services.

In common with our approach to customers, we aim to develop long-term relationships with our suppliers and sub-contractors. We aim to operate a co-ordinated approach to purchasing across the whole range of our activities to ensure a consistent approach to all sourcing decisions. Our purchasing philosophy is to obtain goods and services that provide maximum total value. While purchase price is obviously critical, other factors include whole-of-life cost, quality, delivery, method of payment, assured supply, cost reduction opportunities, safety, environmental, engineering and process considerations. This local approach to sourcing enables our operations to maintain a close working relationship with suppliers.

Our dealings with suppliers and sub-contractors are conducted to ensure the:

  • Advance agreement of a set of reasonable terms of trade
  • Establishment of a fair and transparent relationship based on mutual trust
  • Settlement of amounts due in line with agreed terms
  • Respect of the sensitive nature of commercial agreements between us and our suppliers and sub-contractors
  • Absolute prohibition of any corruption or bribery in our commercial dealings with suppliers or customers
  • Compliance with all appropriate environmental standards & regulations and health & safety regulations.

Environment Policy

Wherever possible we prevent, or otherwise minimise, mitigate and remediate, harmful effects of any business operations’ on the environment.

Excellence in environmental performance is essential to our business success. Compliance with all UK, EU & International environmental laws and regulations is the foundation on which we build our environmental performance. We similarly approach a comprehensive understanding of the full life cycle and safe use of our products to ensure all their benefits are delivered.

We promote active partnerships at international, national, regional, and local levels. They are based on mutual commitment, trust, and openness. Our relationships with communities involve consultation to open new facilities, to run existing ones and to close them at the end of their productive lives. In doing so, we support community based projects that can make a difference in a sustainable way without creating dependency. We also assist regional development and training, employment and small business opportunities.

Capital and Minor Works Tender Policy

This policy provides the rules for the purchase of goods and services by Tradenet, its Partners, employees and or appointed representatives.  It is the company’s policy that value for money is one of our key aims for all Tradenet Projects.  All O.E.M., Service and Construction contracts will be tendered on an open, fair and competitive basis and will be drafted and managed effectively to negate cost overruns.

In order to encompass the full range of expenditure, the levels of quotes/tenders and corresponding documentary back-up will vary as follows:

Level of Expenditure Action Required/ Category of Purchase
Less than £15,000 Normal best-value purchasing procedure using local knowledge, approved by Manager
£15,000 to £50,000 Three Quotes Required + Partner Approval
£50,000 to £1,000,000 Min. three quotes & issued tender spec. + Board Approval
£1,000,000 and above National Advert + Min. six quotes & full tender spec. + Closed Tender Return & Deadline + Board Approval

In extenuating circumstances and or if a strategic supplier has had a long-term relationship with the company, the above may be waived subject to Board Approval.

Community – Policy & Aims

We are committed to ensuring that our developments are a positive influence on the local communities in which we work.  We will provide significant direct and indirect employment opportunities and rely on these communities for our local recruitment needs.  In addition, many of our suppliers will reside locally and sensitive and progressive community management can positively enhance our reputation in the marketplace.

Positive ongoing interaction has benefits for both our business and the communities in which we operate.  When we plan developments that could potentially impact the community, we will take their needs and concerns into consideration and, in return, will rely on their support for our projects.

Our policy is to encourage our directors and managers to plan and oversee their own local programmes.  Although we encourage contributions to all community causes as company policy, we generally feel it is most appropriate to direct the bulk of our contributions towards local charities and youth causes.   We will also help where there is a need for our resources, facilities or man-hours and provide these, in many cases, free of charge.

We recognise that site operations can be a sensitive issue for our local communities and we seek to take into account the impact of our proposals on them.  Clear and open communication between us and the surrounding community is undertaken prior to, and during, any major development.

We will direct our community initiatives towards the following areas:

  • Education
  • Arts & Sports Sponsorship
  • Land & local partnerships
  • Civic organisations
  • Use of facilities

Robert Hobbs
March 2019