Common use of Conflicts of Interest Policy Clause in Contracts

Conflicts of Interest Policy. Recipients must establish written policies and procedures to prevent employees, consultants, and others (including family, business, or other ties) involved in grant supported activities, from involvement in actual or perceived conflicts of interest. The policies and procedures must: a) Address conditions under which outside activities, relationships, or financial b) interests are proper or improper; c) Provide for advance disclosure of outside activities, relationships, or financial d) interests to a responsible organizational official; e) Include a process for notification and review by the responsible official of f) potential or actual violations of the standards; and g) Specify the nature of penalties that may be imposed for violations.