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In addition, every PREFERRED VENDOR is required to adhere to the PREFERRED VENDOR Program Administrative Guidelines  \nIt is important that every PREFERRED Vendor sign a PREFERRED VENDOR Agreement because:  \nIt ensures that PREFERRED Vendors are fully aware of all expectations and requirements before they engage with Balco Properties , reducing risk, cost and improving the quality and timeliness of work.  \nBalco Properties can move directly into the process of bidding and engaging PREFERRED Vendors, without completing a separate contract for each project. This saves time and money.  \nAs part of the PREFERRED VENDOR Agreement, each vendor is required to comply with the material covered in the PREFERRED VENDOR Program Administrative Guidelines which clearly outlines the requirements PREFERRED Vendors are expected to follow, including:  \n Statements of Work requirements  \n The Company travel policy  \n Invoice Requirements  \n Vendor subcontractor reporting  \n The Company trademarks  \n PREFERRED Vendor Levels  \n Pre-placement policy  \n Vendor Code of Conduct  \nIn most cases, once a PREFERRED VENDOR Agreement is signed , no additional contracting with a PREFERRED Vendor will be required. The PREFERRED Vendor can begin work as soon as a Work Proposal is issued and is approved by Balco Properties.  \nWork Proposal -Vendor will not start work without an acceptable form of Proposal. A Proposal should be created for every project and have received an approved signature from Balco Properties before work commences.  \nPerformance Reviews – Upon Balco Properties’ request, the vendor will meet with Balco Properties for periodic performance reviews.  \nUse of Balco Properties Facilities and/or Equipment-Vendor agrees that it will not use Balco Properties’ facilities and/or any Balco Properties’ equipment (including any equipment owned, leased, or rented by the vendor for performing its obligations under the PREFERRED VENDOR Agreement) to perform services for any person or entity other than Balco Properties , without the prior written consent of Balco Properties.  \nRemove or Replace Employees Working on the Balco Properties Account-  \nVendor agrees that if as a result of complying with business reason, Balco Properties requests the vendor to promptly remove from or replace any employee or subcontractor it has assigned to work on the Balco Properties account, the vendor will do so.  \nFinancial Information-Within ten (10) days after the vendor learns that it has  \nbecome or will become Insolvent, they shall submit financial statements to Balco Properties in sufficient detail to allow Balco Properties to determine whether the vendor shall be capable of continuing to perform its obligations hereunder.  \nNon-Exclusive; No Minimums-The parties hereto agree that nothing contained in the Agreement or any Work Proposal shall be construed as creating an  \nexclusive relationship between the parties.  \nAccount Manager-Vendor will assign one person at their company to act as an account manager to Balco Properties and will remove the account manager at Balco Properties request.  \nPayment terms-Vendor will invoice Balco Properties immediately upon completion of work and will give Balco Properties a 2% discount if they are paid within 10 days of invoicedate. Otherwise , Balco Properties will pay full invoice amount in 60 days.  \nNon-Disclosure Agreement  \nThe vendor will not disclose any information gathered in their work with Balco Properties to any third party or tenant without Balco Properties’ knowledge. The vendor will take reasonable security precautions to safeguard Balco Properties’ property and customer information.  \nPrivacy  \nBalco Properties owns all information about its customers. Vendor will use customer information only as needed to conduct the work they have been hired to do.  \nVendor will take rea","cbCair77WpWlvhGd","https://ap.wps.com/l/cbCair77WpWlvhGd","pdf",80648,"English","# Preferred Vendor Agreement Purpose\n## Program Compliance Requirements\n## Key Operating Terms\n## Legal and Administrative Terms","[{\"question\":\"Why must a participating vendor sign the Preferred Vendor Agreement before engaging in work?\",\"answer\":\"Signing ensures vendors understand all expectations and requirements before starting. It also allows Balco Properties to move into bidding and engagement without completing a separate contract for each project.\"},{\"question\":\"What requirements are included as part of the Preferred Vendor Program Administrative Guidelines?\",\"answer\":\"The agreement references items such as statements of work requirements, the company travel policy, invoice requirements, vendor subcontractor reporting, company trademarks, preferred vendor levels, pre-placement policy, and the vendor code of conduct.\"},{\"question\":\"How do payment terms and invoice discounts work under the agreement?\",\"answer\":\"The vendor invoices Balco Properties immediately upon completion of work. Balco Properties receives a 2% discount if paid within 10 days of the invoice date; otherwise payment is made in 60 days.\"}]","Preferred Vendor Agreement - Vendor Program Compliance - Balco Properties | PDF",1789570057]