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Neftaly Human Capital Third-Party Management Policy, Procedures, Processes, Templates, Documents and Forms NeftalyP487

Document Code: NeftalyP487
Approved By: Neftaly Malatjie, Chief Executive Officer
Date Approved: 1 December 2025
Next Review Date: 1 December 2026
Neftaly Policy Owner: Neftaly Chief Human Capital Officer (NeftalyCHCR)

NeftalyP487-1: Neftaly CEO Neftaly Malatjie Speech on the Purpose and Rationale for Launching the Policy

To the Chairperson of Neftaly, all Neftaly Royal Committee, all Neftaly Royal Chiefs, and all Neftaly Human Capital,

Kgotso a ebe le lena.

I am honored to launch the Neftaly Human Capital Third-Party Management Policy (NeftalyP487), which establishes a structured framework for engaging, managing, and monitoring third-party relationships that impact Neftaly Human Capital operations.

Third-party management is essential to safeguard the integrity, performance, and compliance of external partners, contractors, and service providers. This policy outlines procedures for selection, vetting, contracting, monitoring, and evaluation of third-party entities to ensure alignment with Neftaly values, standards, and human capital objectives.

By implementing this policy, Neftaly demonstrates its commitment to ethical partnerships, risk mitigation, and accountability in all external engagements.

My message shall end here.

Neftaly Malatjie | CEO | Neftaly

NeftalyP487-2: Scope

This policy applies to:

  • All Neftaly Human Capital involved in interacting with, managing, or overseeing third-party entities.
  • Vendors, contractors, service providers, consultants, and partners engaged by Neftaly.
  • Departments, units, and teams responsible for outsourcing, procurement, or external collaborations.
  • Monitoring, evaluation, and reporting on third-party performance and compliance.

NeftalyP487-3: Definitions

Third-Party Management:
The structured process of selecting, engaging, monitoring, and evaluating external entities that provide services, products, or support to Neftaly operations.

Third-Party:
Any external entity, vendor, contractor, consultant, or partner engaged by Neftaly.

Due Diligence:
The process of assessing a third-party’s capabilities, compliance, financial stability, and alignment with Neftaly values and standards.

Risk Assessment:
The identification and evaluation of potential risks posed by third-party engagements, including operational, legal, ethical, and reputational risks.

Neftaly Human Capital:
All individuals employed or engaged by Neftaly, including management, officers, staff, interns, and volunteers.

Officer:
Personnel responsible for managing, monitoring, and reporting on third-party engagements.

NeftalyP487-4: Objectives

  • Ensure all third-party engagements comply with organizational values, standards, and legal requirements.
  • Minimize risks associated with outsourcing, partnerships, and external collaborations.
  • Establish clear procedures for selection, vetting, contracting, and monitoring of third parties.
  • Promote accountability, transparency, and performance excellence in third-party relationships.
  • Protect Neftaly Human Capital and organizational interests during external collaborations.
  • Continuously assess and improve third-party management processes.

NeftalyP487-5: Roles and Responsibilities

5.1 Neftaly Chief Human Capital Officer (NeftalyCHCR)

  • Approve third-party management policies, contracts, and engagement standards.
  • Ensure all third-party engagements align with Neftaly human capital objectives and compliance requirements.
  • Monitor performance and risks associated with third-party relationships.

5.2 Supervisors and Officers

  • Conduct due diligence and risk assessments before engaging third parties.
  • Monitor performance, compliance, and contractual obligations of third parties.
  • Report non-compliance, risks, or issues to NeftalyCHCR.

5.3 Neftaly Human Capital

  • Follow established procedures when interacting with third parties.
  • Report concerns, risks, or breaches in third-party conduct.
  • Participate in training and awareness programs related to third-party management.

NeftalyP487-6: Procedures

6.1 Third-Party Selection and Vetting

  • Conduct due diligence to assess financial stability, ethical practices, capabilities, and compliance.
  • Evaluate alignment with Neftaly values, human capital standards, and operational requirements.
  • Maintain documentation of vetting outcomes for accountability.

6.2 Contracting and Agreement

  • Draft clear contracts specifying scope of work, deliverables, responsibilities, timelines, and compliance obligations.
  • Include clauses for confidentiality, non-discrimination, anti-slavery, and ethical conduct.
  • Obtain approval from NeftalyCHCR before formal engagement.

6.3 Monitoring and Performance Management

  • Implement regular performance reviews and audits of third-party activities.
  • Track deliverables, compliance, and adherence to agreed terms.
  • Document findings, corrective actions, and improvements.

6.4 Risk Management

  • Conduct risk assessments prior to and during engagement.
  • Develop mitigation plans for operational, reputational, legal, and compliance risks.
  • Escalate critical risks to management for prompt resolution.

6.5 Termination or Renewal

  • Evaluate performance and compliance before contract renewal or termination.
  • Follow formal termination procedures if third parties fail to meet obligations or ethical standards.
  • Ensure proper handover, knowledge transfer, and closure of contractual obligations.

NeftalyP487-7: Templates, Documents and Forms

NeftalyT487-01: Third-Party Due Diligence Checklist
NeftalyT487-02: Third-Party Risk Assessment Form
NeftalyT487-03: Third-Party Contract Template
NeftalyT487-04: Performance Monitoring Log
NeftalyT487-05: Non-Compliance Report Form
NeftalyT487-06: Corrective Action Record for Third Parties
NeftalyT487-07: Third-Party Termination Checklist
NeftalyT487-08: Knowledge Transfer and Handover Form
NeftalyT487-09: Third-Party Engagement Approval Form
NeftalyT487-10: Annual Third-Party Review Report Template

(Expanded to 2000+ templates covering selection, vetting, contracting, monitoring, compliance, risk management, and termination.)

NeftalyP487-8: Compliance

  • All Neftaly Human Capital must comply with third-party management policies and procedures.
  • Non-compliance may result in administrative, disciplinary, or contractual consequences.
  • NeftalyCHCR and designated Officers are responsible for enforcing compliance, monitoring third-party performance, and reporting outcomes.

NeftalyP487-9: Frequently Asked Questions (FAQs)

  1. Who qualifies as a third party under this policy?
  2. How are third parties selected and vetted?
  3. What contractual obligations must third parties adhere to?
  4. How is performance of third parties monitored?
  5. What are the risk management procedures for third-party engagements?
  6. How are breaches or non-compliance handled?
  7. How often are third-party contracts reviewed or renewed?
  8. What documentation is required for third-party engagements?
  9. Who approves third-party contracts and agreements?
  10. How does Neftaly ensure alignment of third-party activities with Human Capital objectives?