The Instituto de Seguros de Portugal is a state-owned collective body with administrative and financial autonomy and its own assets.

With respect to the acquisition of goods and services, the ISP must comply with the procedures established by legal act DL 18/2008 of 29th January, which approved the Public Contract Code.

Accordingly, in contact with our suppliers we are obliged to demand certain documents, such as those pertaining to demonstrate the technical competence (such as lists of references) as well as more specific documents, such as Certificates of no debt to the State and Social Security, moreover verifiable based in the Electronic Platform used, the BizGov, according to the law mentioned above.

Very often we pay our suppliers on a 30-day delay basis. Therefore, it is a customary procedure to ask our suppliers for their Basic Bank Account Number (BBAN) and other information deemed necessary for paying bills or transferring money (Supplier summary), thus keeping the whole payment process swift.