We Antilles Power Depot have a strong policy on vendor selection process, as a company all our selected and prospective vendors need to comply and will be subject to a Third-Party Due Diligence (TPDD).
Third-party due diligence (TPDD) is a process of gathering relevant information about the risk and credibility of third parties that a company associates with, such as vendors, suppliers, agents, consultants, or contractors. This process can involve various levels of checks and balances, such as contract review, assessments, and external intelligence.
The purpose of third-party due diligence is to reduce the potential for misconduct, corruption, or legal liability that could harm the company’s reputation or performance. Third-party due diligence depends on the unique attributes and risks of each third-party relationship.
We feel that Third-party due diligence is a good business practice and a foundational part of third-party risk management. As APD we observe and enforce the TPDD process, we encourage all our vendors to do the same.