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 ?
'Why should there be a conflict of interest with regard to that?
'If there was a conflict of interest, Syazlin was the one who should be responsible, not the AG.
One can always declare conflict of interest and withdraw from matters that create the conflict of interest," Mr Kamau said.EPRA director-general Pavel Oimeke did not respond to queries over the contentious issue.
"[The PCB removed Inzamam from the PSL draft-selection process because] that created a conflict of interest. If he is there with the franchise then he can't be choosing the players and that made logical sense.
Conflict of interest arises "when a public official or employee is a member of a board, an officer, or a substantial stockholder of a private corporation or owner or has a substantial interest in a business, and the interest of such corporation or business, or his rights or duties therein, may be opposed to or affected by the faithful performance of official duty."
Throughout the Conflict of Interest deliberations last week, various delegations called for a Conflict of Interest policy document, and as always, the push for it was intense with Ecuador, Cuba, Small Island States and the Africa group for it, while the USA, EU, Canada, Norway and Australia was against.
Swift adoption of the new law on the conflict of interest, which is currently blocked in the House of Representatives Constitutional and Legal Committee, is an opportunity to send a clear message to both the citizens of BiH and the international community, that the elected representatives of the people of BiH are committed to building society with equal chances for all.
The Bribery Commission is to give more teeth to the penal code soon by introducing a new law to 'Disclose Conflict of Interests and Relationships.'
Unfortunately, your actions still qualify as cronyism, and hiring family and friends may be a conflict of interest.
He further asserted that the CPA had a conflict of interest as a result of the CPA's desire to retain the practice and the other doctor as clients.
Dubai: Conflict of interest is a subject that has been hugely debated of late in Indian cricket.
AFORMER Welsh minister who approved PS3.4m of support for a Swansea firm which later went bust had a potential conflict of interest, according to a former watchdog on standards in public life.

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