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Vendor Gift Policy

Is there an industry standard on how vendor gifts are handled? Production and the media department deal with vendors that give "gifts" that range from cookies, lunches, sports event tickets and more. We are trying to develop a policy that is fair to relationship building necessary for these positions but also does not by appearance or otherwise compromise the responsibility the agency has to represent our clients best interest. Does your company have a vendor gift policy? What gifts are acceptable? What gifts require informing company management? What gifts require informing client?

Thanks,

Donna Lassen

I'm not aware of industry standard, however we wrote this into our employee handbook: "In the course of business, gratuity gifts may be received from clients or vendors. Gratuity gifts are defined as tangible gifts with a market value of no greater than $50.00. Any gifts offered to an employee that does not fall within the defined parameters must be disclosed to a manager." We've never had problems or concerns of misconduct. Cash is NEVER an acceptable gift, not said in writing, but discussed in meetings. The IRS has limits too. I think it's still $25 before it is considered a disclosure item...

Roxanne Cowan

We are a department at a large corporation so its been developed by our legal dept. Possibly overkill for small agencies but good reference.This is straight from the Employee Handbook: Special Business Conduct Rules What is a conflict of interest? Conflicts of interest arise when an employee's personal or financial interests conflict or could conflict when the employee's exercise of judgement or performance of duties in (company name) best interest. Examples include: ? buying or dealing in real estate, materials or services that (company name) buys or needs, ? owning an interest in a competing business, ? taking for yourself a business opportunity that (company name) might be interested in, ? personal use of (company name) property, or ? having a relationship or acception gifts, loans, entertainment or favors from others that putsan employee under an obligation to the other person, in an ethically compromised position or is illegal or could be embarrassing if disclosed. You should not accept, (or tell your management if you receive) cash, checks or gifts of more than a nominal value. Certain departments have special rules on acceptance of gifts, so check with your manager.

Sonja Hoezee