There are three aspects:
The confidentiality of University information received in the course of duty must be respected.
Information received from suppliers, in particular pricing and specification, should not be divulged to others suppliers. This would distort fair and equal competition and may breach confidentiality obligations (even if these are not written down). Obtaining Competitive Bids gives further guidance about obtaining bids.
Equally, information given in the course of duty must be true and fair and not designed to mislead.