The Code set our below was approved by the Institute's Council on 26th February 1977 and is binding on members. Details of cases in which members are found in breach of the Code will be notified in the publications of the Institute. Any personal interest which may impinge or might reasonably be deemed by others to impinge on a member's impartiality in any matter relevant to his or her duties should be declared. While bearing in mind the advantages to the member's employing organisation of maintaining a continuing relationship with a supplier, any arrangement which might, in the long term, prevent the effective operation of fair competition, should be avoided. Business gift, other than items of very small intrinsic value such as business diaries or calendars should be avoided.
Modest hospitality is an accepted courtesy of a business relationship.
When it is not easy to decide between what is and is not acceptable in terms or gifts or hospitality, the offer should be declined or advice sought from the member's superior. Advice on any aspect of the precepts and guidance set out above may be obtained on written request to the Institute.