Effective Date: December 18, 2006
Signature/Position: Assistant Vice-President, Finance and Services
Table of Contents
SUBJECT
GENERAL
PURPOSE
SCOPE
DEFINITIONS
POLICY
Conflict of interest policy (external business associations & disclosure thereof)
It will occasionally be in the best interests of the University to acquire goods and services from, or to give or to sell goods or services to, external organizations which have associations with the University or with certain University employees.
To ensure that, where such situations exist, the acquisitive or dispositive decision is made on an arms-length basis by employees not associated with the external organization. This will protect employees from allegations of conflict of interest and will ensure that University interests are properly represented.
Officers, members of faculty, professional staff and other employees in an executive, professional, administrative, supervisory or technical capacity, or any person responsible for the approval, issuance or allocation of an order, contract, commitment or specification for material or services to be furnished by suppliers; or, any of the above-mentioned persons or person, responsible for the determination on prices or terms, for the sale of, or purchase of materials, supplies or services, to clients or from suppliers, on behalf of the University.
"Member" includes any officer, member of the faculty and staff, professional staff and all other employees of the University.
"Immediate Family"includes spouse, common-law spouse, siblings, children, parents, in-laws, or those persons of the member's and his or her spouse's relations residing in the same household.
"Arms Length" An employee will NOT be dealing at arms length when:
a. the University is buying or selling or giving goods or services from or to that employee or some member of his or her immediate family,
or
b. the University is dealing with an enterprise where that employee or some member of his or her immediate family has a pecuniary interest.
"Substantial" means large in amount or of considerable value in relation to normal transactions of a like activity, service or business and pertaining to the amount or value of the acts or items concerned and in any event will mean any benefit having a value in excess of $500.00.