Welcome to Sjávarkaup



The role of Sjávarkaup is to reduce its clients’ operating expenses. Sjávarkaup achieves that objective principally via tenders, whereby the strengths of collective bulk procurement are applied in order to negotiate more favourable terms. 


Sjávarkaup is a knowledge/service based company which specialises in tenders and follow-up on tenders for its clients. The company has developed a procurement/tender procedure which ensures competition and fairness among tenderers. The procedure also ensures that Sjávarkaup clients can purchase goods and services on the most favourable terms, and thus reduce their operational costs. 


Sjávarkaup provides mediation between vendors/suppliers and Sjávarkaup clients, mostly via tenders and then framework agreements. After a framework agreement has been concluded, dealings between the parties are direct, but Sjávarkaup provides ongoing service to its clients in the form of monitoring and follow-up regarding the relevant framework agreement.

Sjávarkaup also offer services for one-off and smaller purchases which do not require a formal tender procedure.

Sjávarkaup places great emphasis on confidentiality, integrity, transparency, professional standards and trustworthiness in all its work. For this purpose the company has formulated a code of ethics. 

Code of Ethics

A company‘s code of ethics consists of guidelines on how staff should respond when ethical issues arise in their work. A code of ethics generally states the values which should characterise personal interaction in the workplace. The code applies to all members of staff, and often draws on the codes of ethics of different professions in the workplace.

A formal written code of ethics may play an important role in revealing how general ethical values apply in specific working conditions. A code of ethics may make it easier  for staff to respond to difficult ethical issues in the workplace. Sjávarkaup is of the view that, due to the nature of the company‘s business in having dealings with both clients and suppliers, it is vital that all communications be transparent and clear. A code of ethics has the general role of benefiting the interests of the community and the whole in the long term. Sjávarkaup is of the view that a code of ethics gives a good idea of the company’s working methods, and that it is also useful in practical terms, for instance as follows: 

  • It clearly enunciates the values the management sees as important for workplace culture.
  • It fosters professionalism in the staff.
  • It enhances empathy and solidarity among the staff.
  • It states the factors which the company regards as important in its interaction with clients.
  • It reduces the risk of setbacks and scandals.

With reference to the above, Sjávarkaup Ltd. has decided to issue the following code of ethics for its staff:

  • We maintain confidentiality with regard to matters of which we become aware in our work, which should remain confidential.
  • We are straightforward and ethical in all our interactions.
  • We carry out our work diligently and conscientiously, ensuring that we are polite, helpful and fair, and we provide assistance and guidance. 
  • We are responsible for our decisions, results and conduct.
  • We are impartial and fair.
  • We base our decisions on objective reasoning.
  • We honour requests from tenderers and buyers for access to information in accord with accepted rules of procedure.
  • We uphold principles of justness in resolution of issues, and we do not abuse our power or position.
  • We do not abuse our position for our benefit or that of others. We do not acceptangling trips, foreign travel or other benefits offered which might justly throw doubt on our fitness.
  • We do not accept or demand gifts or other benefits to which we are not entitled by virtue of our work. 


Samúel Guðmundsson

tel. (+354) 898-4732
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Samúel Guðmundsson (b. 1967) has broad-ranging management experience in Icelandic business, as well as extensive experience of managing procurement and contracts.

At Olíuverzlun Íslands (Olís), Samúel was head of the Finance Department 1992-1995, and headed the IT division 1995-1996.  He was director of Investment and Risk Management 1997–2006,  director of Product Management 2006–2013 and director of Corporate Sales 2013–2014.  For the past year Samúel has been building up his own consultancy business, S67, and he recently founded Food Diagnostic Iceland.

Samúel has been a member of various boards and public committees in the field of fuel and transport.

Samúel holds a Cand. Oecon. degree in Economics from the University of Iceland, majoring in accounting and finance, and an MBA from Reykjavík University.

Samúel is one of Iceland’s leading experts on the fuel market. He was responsible for fuel purchasing at Olís 1997–2014.

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