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No Conflict Agreement

The conflict of interest clause contained in an independent contract agreement provides that the contractant`s conflicts of interest are immediately communicated to the company. In addition, once elected, the company may terminate the contract if it finds that there is a conflict of interest and is in conflict with and with the performance of the contractor`s obligations. She should be distinguished from the performance No Breach. Representation no conflicts is a statement on the current situation of the party at the time of the agreement, just before the signing of the agreement. The no Breach representation is a statement on the impact of the signing of the agreement. Here are my personal opinions on this particular topic, as well as some general ideas on how to guide your code of conduct and define conflicts of interest. (a) No current or previous conflict of interest. This contractor has no commercial, professional, personal or other interest, including, but not exclusively, representing other clients who, in any way or in any way, would be in conflict with the performance of his obligations under this Agreement. The representation is broad, so that it can be carried out either by an individual or by a unit. It is simple to say that it is not subject to any restrictions or obligations that could affect the performance of its obligations under this agreement. If your contractors or part-time employees provide services to another financial institution during the same period, it is not necessarily a conflict of interest for them.

You can`t really stop your digital distributor or your lawyer or accounting service provider, or even your human resources officer, from serving others in your industry, as long as they treat everyone`s information privately and confidentially. Non-competition clauses are often confused with conflict of interest clauses. I have seen many codes of conduct in which the two terms have been used interchangeably and I do not think that is a good practice. In some cases, a conflict interest is quite possible – for example, if someone serves clients who work in litigation, litigation or DMs. These are essentially cases where good work for one client can directly harm another client. It goes without saying that any potential conflict of interest must be immediately communicated to the legal and compliance teams of both parties and clarified as soon as possible. A conflict of interest is a situation in which your employee or contractor (we always talk about employment or a „person-vs Company“ relationship) cannot meet their obligations impartially or provide objective and impartial professional advice because their ability to do a good job is compromised.