How does Management ensure vendors are vetted?
In today’s highly demanding environment, ASPM staff must strike a balance between the maintenance of a property and its day-to-day operations. ASPM objectively reviews and screens prospective vendors to ensure vendors have adequate insurance, and licensing that is in good standing.
All Vendors are treated in the same manner, creating a fair and level playing field to work and bid projects.
Board FAQs:
Can a Board request a waiver for screening criteria for a specific vendor?
Yes, however, all waivers will need to be signed and approved by the Board. All items waived by one Board will be specific to that vendor for the one community. Waivers are saved for full disclosure on the Vendor’s screening report.
What will happen if a vendor falls out of compliance in the middle of a project?
The vendor will be allowed to complete the existing project, but future work orders and bids from the vendor will be suspended until the items causing the failure are submitted and accepted.
Can a Board or owners search for approved vendors for personal use?
ASPM allows owners to search for approved vendors for their personal use. Such access to ASPM’s Approved Vendor List is not a referral, nor is there compensation to ASPM for any product or service sold to any owner through use of ASPM’s Approved Vendor List. Simply the Approved Vendor list is disclosure of all vendors who have met the set screening parameters set by ASPM.
Vendor FAQs:
How long do existing vendors have to complete the compliance process?
60 days
How long does it take for a vendor to get approved?
Once all information is submitted for review, a determination should be delivered within two business days. Should there be any issues discovered, the total time to get approved will depend on the time it takes for the vendor to cure any issues found.
What types of vendors are exempt from screening?
Vendor types that are considered exempt from screening are municipalities, utility companies, supply companies and Fortune 500 companies such as Home Depot, Lowes, etc.
How long is an approval good for?
Twelve months. However, throughout that year all items that expire, i.e., trade licenses and insurance are required to be maintained throughout the entire twelve months or a vendor will be suspended until the expired item is corrected.
What happens if a vendor fails compliance?
The vendor is given a 30-day time period to provide the necessary corrections to the failing issues. However, if failure issues are not cured within 30 days, the vendor will not be sent future work orders, payments, or be eligible for additional work orders until the issue is resolved.