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Supplier Requirements


The Bank considers a number of criteria when determining whether a supplier is a good fit for a particular procurement requirement. In addition to the ability to provide the requested product or service at a competitive price, prospective suppliers must generally meet the following criteria:

Terms and Conditions

The Bank generally requires suppliers to accept its standard contract terms, including a commitment to equal opportunity in employment and contracting.


Due to the nature of our work, suppliers must adhere to confidentiality obligations, comply with nondisclosure agreements and return technical documents as requested.

Financial Stability

We often request and review financial statements and other similar reports in the process of determining if a potential supplier has an acceptable credit rating and is financially stable.

Established Business and References

We generally are looking for established suppliers that have a proven track record. References from clients for which the supplier has performed similar work are preferred.

Insurance Requirements

Potential suppliers must have full insurance coverage compatible with the risks of their business. The Bank determines the insurance coverage required.


Suppliers of contract services involving potential employee safety or loss prevention should have a competitive experience modification rate or equivalent safety metric and an established safety program.


Supplier employees working on Bank premises must pass a criminal background check. Depending on the nature of the work, additional background screening may be required.

Customer Focus

We value suppliers that are highly responsive and rigorously committed to exceptional customer service.

Cost Savings and Process Efficiencies

We appreciate suppliers who continuously look for ways to help us lower our costs or improve operational efficiencies.

Innovative Business Solutions

We are looking for suppliers that can offer creative, innovative, solutions-oriented approaches to our procurement requirements.

Technology and E-Commerce

Suppliers that are adept with current technologies, have a web presence, and are able to receive and respond to bids and proposals electronically may enjoy a competitive advantage when seeking to do business with us.

How to Become a Supplier

  1. Review our list of products and services that the Bank typically procures.
  2. If the types of goods or services your company provides are a fit for the Richmond Fed, you can create a profile on the Ariba Discovery network using the registration instructions below.
  3. Our Procurement team will utilize profiles on the Ariba Discovery Network to invite prospective suppliers to submit quotes or proposals in response to opportunities.

Registration Information

The Richmond Fed uses Ariba as our standard Procurement sourcing and contract management application. You can create a profile on the Ariba Discovery Network for free.

If you have questions about establishing your company profile, Ariba support can help, or if you have questions about our overall program, please contact us at Procurement Services.

Visit the Supplier Diversity page to learn more about the Richmond Fed's Supplier Diversity and Small Business Programs.

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