CONFLICT OF INTEREST POLICY

CONFLICT OF INTEREST POLICY

CONFLICT OF INTEREST POLICY FOR UNITED AID INC., A NOT FOR PROFIT ORGANIZATION AIMING TO UPLIFT EDUCATION STANDARDS IN AFRICA

  • PURPOSE 

 

  1. The purpose of this Conflict of Interest policy is to protect the interests of United Aid Inc. In the regular course of business, agents, employees and directors of United Aid Inc. may have the opportunity to advance their own interests with or against the interests of United Aid Inc. Any party that advances their interests in this manner without truthfully disclosing the nature of interest shall be liable to disciplinary action. 

 

  1. The disciplinary action may vary depending on the nature of undisclosed interest that the employee, agent and/or board member may have undertaken and may include being altogether discharged from their duties and/or a suit seeking to recover the proceeds of unfair gain. 

 

  • DEFINITIONS 
  • An employee for purposes of this policy shall be any person who is employed by United Aid Inc. as a part time or fulltime worker in accordance with the relevant labor laws. 

 

  1. An agent shall be anyone who is contracted by United Aid Inc. to represent them in a transaction on their behalf. 

 

  1. Interest shall be deemed to be any unfair advantage whether financial or otherwise obtained from other parties while undertaking duties affiliated to United Aid Inc. 

 

  1. Disciplinary action shall have the common meaning and shall be exercised in accordance with the organization’s policies. 

 

  • PROCEDURE 
    1. Duty to disclose 

Every employee and agent is obligated to disclose any known or potential conflicts of interest as soon as they arise. Failure to make such disclosure may lead to disciplinary action which may escalate to termination of employment. 

 

  1. Investigation of potential Conflicts of interest 

In the event of a potential conflict, the Board of Directors will objectively investigate the same. Where it is confirmed that indeed there is a conflict, the board may question the parties involved in a respectful manner and avert the conflict. Where no conflict of interest is confirmed, the inquiry may be shelved without further action. 

 

  1. Dealing with confirmed conflict of interest 
  1. Where conflict of interest is confirmed, any transaction that may have been affected by such conflict of interest will be reviewed and the necessary action taken. 
  2. If the implicated person is part of the team investigating the conflict, such person shall be excused from the deliberations. 

 

  1. Disciplinary Action 
  1. All conflict of interest cases will be reviewed on a contextual basis. The Board Of Directors shall have full discretion to mete out the disciplinary that such board considers most effective in the circumstances. 

 

  1. Notwithstanding such discretion, the Board of Director’s decision shall be guided by fairness and reason. 

 

  • ACKNOWLEDGMENT
    1. The employee/agent named below understands the procedure for conflicts of interest with United Aid Inc., including their duty to disclose any known or potential conflicts.

 

  1. Furthermore, the employee/agent agrees to abide by the procedures outlined in this policy for the duration of their professional relationship with United Aid Inc. 
  2. By appending their signature on this policy, the employee/Agent is deemed to have fully understood this policy and undertakes to abide by it. 

 

EMPLOYEE NAME: …………………………………………………………………….

DATE: ……………………………………………………………………..

SIGNATURE: ……………………………………………………………………..

 

EMPLOYER NAME AND SIGNATURE/SEAL: …………………………………………………

 

DATE: ………………………………………………

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