conflict of interest


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conflict of interest

A situation that presents the possibility of having to choose which side in a transaction will receive the better service, deal, terms, or representation.The conflict may be choosing between two other parties,such as an agent attempting to represent both buyer and seller in a particular transaction,or it may be between the party and another,such as a real estate broker wishing to purchase property listed with that same broker.Rules regarding handling conflicts of interest generally provide a solution through full disclosure to all parties involved or withdrawal from the situation entirely.

References in periodicals archive ?
Dealing with a conflict of interest in either of these ways, through removal of the conflict or through avoidance of the conflict, addresses all three of the problems previously mentioned: the possibility of clouded judgment, the possibility that an officer may be led into corrupt conduct, and the perception of bias.
The fourth concerns is whether individuals are placed under a conflict of interest alone, in isolation from colleagues who might be able to act together to maintain and protect their professional integrity and that of the organization.
5 percent disclosed a conflict of interest related to the topic of the article, an impossibly low number given the fact that a quarter of biomedical researchers at the time were receiving funding from industry.
What mattered was that the deputy governor kept this potential conflict of interest secret.
Simply preparing an individual tax return for a couple using the married-filing-jointly status represents a potential, albeit minimal, conflict of interest.
Managing conflict of interest is essential to this aspiration, as it helps determine how state and market institutions, rules and regulations are shaped for the next generation.
The decision came more than a year after Central Bank of Cyprus governor Chrystalla Georghadji came under fire over conflict of interest allegations involving the dealings of her estranged husband Andreas Gorghadji's law firm with Andreas Vgenopoulos, the former Cyprus Popular Bank strongman widely considered responsible for the defunct lender's failure.
Though the ideas behind conflict of interest are as old as human relationships, the term itself is of relatively recent origin.
The changes envisage a substantial decrease in the fines for violating the Conflict of Interest Act and failing to observe the deadlines, according to reports of Sega daily.
Meanwhile the directors of the LOC company contacted LOCSU for advice regarding the LOC chair's conflict of interest.
The controversy deepened when it emerged that Yaneva might have had a conflict of interest presiding over the criminal case against the former executives of Sofia municipal real estate firm Sofiiski Imoti, who are charged with selling property at undervalued prices to the city hall's detriment, a "signature case" tracked closely by the European Commission.
Here are several examples of conflict of interest complaints and how they were resolved:

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