Common use of Personal Conflicts of Interest Clause in Contracts

Personal Conflicts of Interest. a. In accordance with 2 C.F.R §200.318 (c)(1) neither the Contractor nor any person or business entity affiliated with it shall have, during the term of this Contract, (including any extensions) any prohibited financial relationship with the Authority, any of its Board Members, officers, directors, employees or agents. Such a prohibited relationship would arise when the employee, officer, or agent, any member of his or her immediate family, his or her partner, or an organization which employs or is about to employ any of these parties, has a financial or other interest in or a tangible personal benefit from a firm being considered for award. A “financial interest” is the potential for gain or loss to the employee, officer, or agent, any member of his or her immediate family, his or her partner, or an organization which employs or is about to employ any of these parties as a result of the particular procurement. The prohibited financial interest may arise from ownership of certain financial instruments or investments such as stock, bonds, or real estate, or from a salary, indebtedness, job offer(s) or similar interests that might be affected by the particular procurement. b. An “apparent” conflict of interest may exist where an actual conflict does not exist, but where a reasonable person with knowledge of the relevant facts would question the impartiality of the employee, officer, or agent participating in the procurement.

Personal Conflicts of Interest. a. (a) In accordance with 2 C.F.R C.F.R. §200.318 (c)(1) ), neither the Contractor nor any person or business entity affiliated with it shall have, during the term of this Contract, (including any extensions) any prohibited financial relationship with the Authority, any of its Board Members, officers, directors, employees or agents. Such a prohibited relationship would arise when the employee, officer, or agent, any member of his or her immediate family, his or her partner, or an organization which employs or is about to employ any of these parties, has a financial or other interest in or a tangible personal benefit from a firm being considered for award. A “financial interest” is the potential for gain or loss to the employee, officer, or agent, any member of his or her immediate family, his or her partner, or an organization which employs or is about to employ any of these parties as a result of the particular procurement. The prohibited financial interest may arise from ownership of certain financial instruments or investments such as stock, bonds, or real estate, or from a salary, indebtedness, job offer(s) or similar interests that might be affected by the particular procurement. b. (b) An “apparent” conflict of interest may exist where an actual conflict does not exist, but where a reasonable person with knowledge of the relevant facts would question the impartiality of the employee, officer, or agent participating in the procurement.

Personal Conflicts of Interest. a. In accordance with 2 C.F.R §200.318 (c)(1) neither the Contractor nor any person or business entity affiliated with it shall have, during the term of this Contract, (including any extensions) any prohibited financial relationship with the Authority, any of its Board Members, officers, directors, employees or agents. Such a prohibited relationship would arise when the employee, officer, or agent, any member of his or her immediate family, his or her partner, or an organization which employs or is about to employ any of these parties, has a financial or other interest in or a tangible personal benefit from a firm being considered for award. A “financial interest” is the potential for gain or loss to the employee, officer, or agent, any member of his or her immediate family, his or her partner, or an organization which employs or is about to employ any of these parties as a result of the particular procurement. The prohibited financial interest may arise from ownership of certain financial instruments or investments such as stock, bonds, or real estate, or from a salary, indebtedness, job offer(s) or similar interests that might be affected by the particular procurement.procurement.‌ b. An “apparent” conflict of interest may exist where an actual conflict does not exist, but where a reasonable person with knowledge of the relevant facts would question the impartiality of the employee, officer, or agent participating in the procurement.would