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Saturday, November 28, 2015

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Doing Business with the Fed: A Supplier's Introduction to the Federal Reserve Bank of Philadelphia

The Federal Reserve Bank of Philadelphia is one of 12 regional Federal Reserve Banks in the United States that, together with the Board of Governors in Washington, D.C., constitutes the nation's central bank. The basic mission of the Federal Reserve System is to foster the safety, soundness, and vitality of our economic and financial systems. Together with the other Federal Reserve Banks, the Philadelphia Fed plays a critical role in conducting the nation's monetary policy, supporting financial stability, promoting sound banking practices, and ensuring a reliable payments system. The Philadelphia Fed is responsible for the Third Federal Reserve District, which encompasses eastern Pennsylvania, southern New Jersey, and the state of Delaware.

Purchases by the Bank

The Bank expects from its vendors the highest quality in goods and services while also obtaining the best value for its money. Our purchases include printers and other office equipment; some software; building materials; furnishings; maintenance; and many kinds of services.

Becoming a Bank Supplier

To join the Bank's list of pre-qualified suppliers, simply complete our Supplier Profile Form Doc and fax it to 215-574-6289 or mail it to us at: 100 N. 6th Street, Philadelphia, PA 19106-1574. We ask that you restrict all sales contacts to representatives of the Procurement Division. Our telephone number is 215-574-3896, and our fax number is 215-574-6289. If you would like to meet with a buyer, please telephone in advance for an appointment. When meeting with a buyer, enter the Bank through the 7th Street entrance. You will need to comply with the Bank's security procedures upon entering the building.

How the Bank Buys

We solicit competitive bids or proposals for the goods and services we need from pre-qualified suppliers. We award contracts to those suppliers that offer the best total value in terms of price, quality, availability, and service. Competitive proposals and bids are often issued electronically and require that a supplier's proposal or bid be submitted electronically.

Our buyers periodically review the ability of suppliers to maintain delivery, price, and quality requirements. If we find suppliers to be unresponsive, or if their performance is unsatisfactory, we reserve the right to remove them from our list of pre-qualified suppliers.

The Bank does not discriminate in its selection of suppliers that furnish goods or services to it. It is the Bank's policy to provide an equal opportunity for all suppliers without regard to race, gender, age, religion, color, national origin or veteran status. The Bank also tries to encourage partnerships with small businesses, especially those located in the Philadelphia metropolitan area.

A candidate for participation in the Bank's small business program must certify that it meets the Small Business Administration's applicable criteria for small businesses. Generally, small business means a business that is independently owned and operated, not dominant in its field of operation, and qualified as small under the applicable size standards set forth by the SBA. If you have any questions about your firm's status, please contact a local SBA office.

Taxes, Prices, and Payment

The Federal Reserve Act exempts our purchases from all federal, state, and local sales and use taxes. Please do not include these taxes when computing proposals, bids, and invoices.

Because of the Bank's status under the Federal Reserve Act, we cannot request the contract rates negotiated for the United States government by the General Services Administration or any other government agency. Nevertheless, we can accept equivalent rates, and we always demand the most competitive rates.

We also offer exceptionally rapid payment for goods and services by electronic deposit to a supplier's bank account. However, we make many purchases using a purchase card.


Deliveries to the Bank should be directed to our building's receiving dock at 7th and Cherry streets. Our dock is open from 8 a.m. to 4 p.m. on weekdays. The Bank is closed on all national holidays.

The Bank's Procurement Division is always looking for innovations in products, services, and cost-effectiveness. At the same time, it is committed to developing a productive, long-term relationship with its suppliers. We hope you will join us.

Please call us at (215) 574-3896.

Supplier Diversity Mission Statement

The Federal Reserve Bank of Philadelphia recognizes the importance of a diverse supplier base and is committed to supplier diversity. It is the Bank's mission to seek, identify, and foster business relationships with, and purchase goods and services from, certified small businesses, including businesses owned by minorities, women, veterans, and disabled persons.

Supplier diversity is one of several initiatives supported by the Bank’s Office of Diversity & Inclusion.

Supplier Diversity Policy

The Federal Reserve Bank of Philadelphia is committed to providing all suppliers with an opportunity to be included in our strategic sourcing and procurement process. Technical assistance is available from the Bank for all potential suppliers, minority-owned, women-owned, and small businesses. Companies that seek to do business with the Bank must be able to demonstrate the ability to provide high-quality goods and services.

As part of the Bank's commitment to a diverse supplier base, it participates in vendor fairs, uses supplier data bases to search for qualified candidates, and holds memberships in various organizations that support its diversity initiatives.

The Bank's Business Ethics

The Bank's employees are subject to a Code of Conduct that proscribes the acceptance of gifts, gratuities, entertainment, or any other things of monetary value from suppliers or those seeking to be our suppliers. The Bank uses a hotline, (866) 931-0497, available 24 hours a day, 7 days a week, for employees and others, including vendors, to report concerns about the Bank's procurement and other practices. All calls to the hotline are documented by an experienced professional and treated confidentially. All concerns forwarded to the Bank by the hotline administrator will be promptly addressed by the appropriate Bank personnel.

  • Last update: April 2, 2014