The Public Procurement Directorate of the Ministry of Finance (La Dirección de Contratación Pública del Ministerio de Hacienda) has released a draft Government Procurement Code of Ethics for public consultation. This new code is designed to set clear standards for everyone involved in the procurement of goods, services, and public works for the government. It aims to promote transparency, efficiency, effectiveness, and fairness in the use of public resources and once approved, compliance will be mandatory for all suppliers.

Just as in the corporate world, the goal of this code is to ensure that companies and their employees act in accordance with ethical and legal principles. A well-defined Code of Ethics and Compliance is essential for any organization, helping to ensure that operations are carried out within the legal framework and that decisions are based on ethical standards. Now, with the introduction of the Public Procurement Code of Ethics, companies looking to do business with the Costa Rican government must align their internal practices and policies to meet these new standards.

The code outlines key expectations for those contracting with public agencies:

1. Establishing and following ethical and legal standards.
2. Prohibiting corrupt practices and conflicts of interest.
3. Promoting fair and ethical competition.
4. Adhering to all legal and contractual obligations.
5. Upholding confidentiality and transparency.

For companies that already have Compliance programs in place, this new code should be seen not as an added burden, but as an opportunity to reinforce their commitment to ethical practices, transparency, and corporate responsibility. A well-structured Compliance program can help your company easily adapt to the new code, ensuring you’re ready to efficiently participate in public procurement processes while staying fully compliant with the law.

Need help aligning your corporate Code of Ethics with these new requirements, or developing a Compliance program that integrates public procurement regulations? Dentons provides tailored legal and business solutions designed to meet your specific needs. We help streamline your operations.

For more information, feel free to contact Tatiana Reuben; Bernal Baudrit.