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 ?
'If there was a conflict of interest, Syazlin was the one who should be responsible, not the AG.
'The conflict of interest was an excuse that was given at the wrong place in order to remove Syazlin from representing the Housing and Local Government Ministry and Fire Department,' he explained.
Many developed countries practise this law of disclosing instances of conflict of interests on ethical grounds or to challenge perpetrators with the law.
The law would be pertinent to all law enforcement agencies that conduct probes and to disclose if the probing subject or the suspect has any acquaintance to the investigator that would lead to an instance of conflict of interest.
DEFA, currently in the midst of negotiating a contract worth some $4bn for the supply of interim natural gas, became embroiled in the conflict of interest claims last week when the Sigma news network said it was in possession of emails and minutes of DEFA meetings showing that a member of the DEFA board was a partner in a company active in the energy industry.
The expression "conflict of interests" is commonly used, instead, when a conflict arises between one of the above-mentioned primary interests to which a doctor is professionally committed and one of several possible secondary interests (i.e.
Having a potential conflict of interests, i.e., one which is seen as possibility, is different from having an actual conflict of interests, i.e., one documented as a fact.
NSF sets the standards for its awardees to manage conflict of interests, and applies the government-wide regulations on managing its own conflict of interest.
Vladimira Yaneva, the newly elected chair of the Sofia City Court, will be spared the most drastic inspections over conflict of interest doubts, Bulgaria's Supreme Judicial Council (VSS) decided Thursday.
RZS have received the information from magistrates, including three from VAS, the party leader said, adding the VAS Chair must be probed to see if he has really committed conflict of interests.
Borisov continued that there are different interpretations of conflict of interests and that he hoped Jeleva had checked things out.

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