Common use of FINANCIAL CONFLICTS OF INTEREST Clause in Contracts

FINANCIAL CONFLICTS OF INTEREST. As provided at 2 CFR 200.318(c)(1): No employee, officer, or agent [of a recipient] may participate in the selection, award, or administration of a contract supported by a Federal award if he or she has a real or apparent conflict of interest. Such a conflict of interest 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 the parties indicated herein, has a financial or other interest in or a tangible personal benefit from a firm considered for a contract. The officers, employees, and agents of the non-Federal entity may neither solicit nor accept gratuities, favors, or anything of monetary value from contractors or parties to subcontracts. You must have written standards of conduct to implement these requirements. These standards may include exceptions when financial interests are not substantial / or unsolicited gifts are of nominal value (e.g. coffee mugs, baseball caps, pens and refrigerator magnets). However, recipients’ codes of conduct must include disciplinary actions for violations. Note: EPA takes financial conflict of interest violations seriously as reflected in EPA’s Recipient Conflict of Interest Policy. The Agency may disallow costs for contracts tainted by conflicts of interest whether the recipient has adopted a code of conduct or not.