Working with suppliers
We are committed to the fair treatment of the businesses who supply goods and services to HSBC – and expect them to operate responsibly, in line with our values. Read more about the principles we apply and our supplier code of conduct.
HSBC is fully committed to the effective management and control of our supply chain and how we conduct business with our third party suppliers – whether we are meeting our legal and commercial obligations responsibly in our supplier dealings, as well as treating our suppliers fairly in our behaviours and actions.
The following five principles set out HSBC’s commitments to how our employees should act when managing supplier relationships, aligning to our values that define who we are as an organisation and what makes us distinctive. These principles are shared with all new sourcing engagements through surveys and our performance against these principles is assessed regularly through direct feedback from the supplier relationships that we manage, to ensure we deliver on this commitment.
Supplier Management Conduct Principles
- HSBC will treat suppliers in a fair and consistent way
- HSBC will communicate to suppliers in a knowledgeable, clear and transparent way
- HSBC will always behave in a professional way when dealing with our suppliers
- HSBC will listen and act quickly on incidents of poor conduct by HSBC employees when interacting with suppliers
- HSBC will hold our supply chain to the same high standards that it demonstrates
In addition to the above principles HSBC also asks our employees to act in line with internal Group conduct, value and behaviour standards.
We also expect businesses who supply goods and services to HSBC to operate responsibly and our supplier code sets out the standards we require.
HSBC takes seriously all matters relating to the ethical conduct and behaviours between HSBC and its suppliers. In the event of encountering, or having concerns about, the ethical conduct of business for its supply engagement with HSBC, including relating to bribery and corruption, suppliers should immediately report through our vendor disclosure email firstname.lastname@example.org.
Supplier Due Diligence
As part of the HSBC sourcing process, all potential suppliers will be subject to due diligence and in order to comply with data protection laws we are required to notify our intentions regarding the use of your data. The Data Privacy Notice further down this page sets out how we will use the information you provide, or which we collect, in connection with any sourcing activity and any subsequent agreement(s) with us.
HSBC has a Supplier Code of Conduct that all the bank’s suppliers must comply with. The code is available to download in different languages below.
We want to ensure our supply chain represents the diversity of our employees, customers, and the communities we serve. To help with this goal, we have created a Supplier Diversity Portal. This allows small-to-medium size enterprises (SMEs) or businesses that are majority-owned, operated, and controlled by historically underrepresented groups to express interest in becoming a supplier to the bank. Companies can share some basic information via the portal about their business, capabilities, and diversity qualifications so we can better connect them with procurement opportunities. There is no cost to register for the portal.
HSBC’s No PO, No Pay Policy
Our No PO, No Pay policy calls for purchases of goods or services to have a Purchase Order (PO) issued by HSBC before delivery from the supplier can take place. Therefore, supplier invoices need to reference a PO number in order to be paid. Invoices without a valid HSBC-issued PO number present will be returned to the supplier. The supplier will then need to reach out to their HSBC contact to request a PO number before resubmitting the invoice for payment.
As part of our sustainability commitment, HSBC is going paperless globally and moving to electronic invoicing. The Tradeshift platform is our preferred method of transacting with suppliers, where available. Tradeshift allows suppliers to submit invoices electronically and track their status in real time. By using Tradeshift, suppliers will be prompted for any missing information to ensure timely invoice processing.
HSBC suppliers are asked to register on Tradeshift to start transacting with us. To gain access, contact your HSBC requester or Procurement Support, for an invitation to activate an account. Only invited suppliers can access this platform.
For more information, visit the HSBC Tradeshift Electronic Invoice Portal
Guide to invoicing HSBC
The “How to Invoice HSBC” supplier guide outlines our invoice requirements. Please ensure you read this guidance before submitting an invoice to us for payment. If you have any questions, you can also find your local point of contact in the guide.
Collection, processing and sharing of your information
This privacy notice explains how we (‘we’ or ‘us’ is the HSBC Group of companies) will use the information you provide, or which we collect, in connection with any sourcing activity and any subsequent agreement(s) with us. Failure by you to supply such information may result in us being unable to enter into a commercial relationship and/or agreement(s) with you.
By participating in any sourcing activities or entering in to any agreements with us, you agree that we may use your information in accordance with this notice. The data user in relation to your information is the HSBC Group Member who may enter into a services agreement with you.
The information that we collect from you may include information relating to an employee, director or any other person who exercises control over an entity (“Controlling Person”) who enters into a services agreement with us. For a trust, a Controlling Person may include a settlor, a trustee, a protector, beneficiaries and classes of beneficiaries. We may also collect information relating to individuals connected with a director, an entity or a Controlling Person, such as any guarantor, a director or officer of a company, partners or members of a partnership, or beneficial owner, trustee, settlor or protector of a trust, account holder of a designated account, payee of a designated payment, your representative, agent or nominee, or any other persons or entities with whom you have a relationship that is relevant to your relationship with the HSBC Group (“Connected Person”). Prior to providing information to us relating to a Controlling Person, a Connected Person or any other person, you shall ensure that they have consented to us processing their information as set out in this notice.
We may collect, use and share the information you provide to us, subject to local data privacy laws, for reasons connected to our business and relationship with you, including to:
- approve, manage, administer or effect the services agreement between us
- meet the compliance obligations of the HSBC Group
- conduct financial crime (which includes money laundering, terrorist financing, bribery, corruption, tax evasion, fraud, evasion of economic or trade sanctions, and any act or attempt to circumvent or violate any law relating to these matters) risk management activity (which will include making further enquiries as to the status of a person or entity, whether they are subject to a sanctions regime, or confirming their identity and status)
- if applicable, collect any amounts due and outstanding from you
- conduct credit checks and obtaining or providing credit references (where you are a potential tenant of the HSBC Group)
- enforce or defend our rights
- verify your identity.
- understand how diverse and inclusive our suppliers are.
In carrying out these purposes we may transfer and disclose your (or any Controlling Party (’s) or Connected Person (’s)) information to:
- any member of the HSBC Group
- any sub-contractors, agents, advisers or service providers of the HSBC Group (including their employees, directors and officers)
- any regulatory authorities of the HSBC Group
- credit reference agencies and other companies for use in credit decisions, fraud prevention and to pursue debtors
- any third party in connection with a transfer, disposal, merger or acquisition of business by us or any member of the HSBC Group wherever located, including in jurisdictions which do not have data protection laws providing the same level of protection as the jurisdiction in which you are based. Your information will be protected by appropriate security and technical measures to keep your information secure. Such information may be transferred to a place outside the country of your residence.
Accessing your information
In certain jurisdictions, data privacy laws may allow you to make a written request for a copy of the personal data we hold about you and to ask us to rectify, erase or block any inaccurate data. You should make a request to your usual HSBC contact who will be able to direct your query. Depending on your jurisdiction there may be a small fee charged for providing this information to you.