CRDF Policy Statement on Conflicts of Interest Relating to Vendors, Service-Providers and Contractors

The CRDF requires that all vendors, consultants and other service-providers (hereafter collectively “Contractors”) adhere to the highest ethical standards in all matters related to the CRDF award. CRDF policy prohibits Contractors from participating in specific CRDF decisions and dealings when the Contractor knows that any of its relationships, including those of a member of a principal's immediate family, may pose a conflict of interest with respect to a specific CRDF transaction; and required disclosure of any relationships known to the Contractors which are covered by this policy and which may improperly affect the CRDF transaction.

In accordance with this policy, the Vendor will:

1. Disclose promptly to the CRDF Representative identified in this Purchase Order any relationship of which the Contractor has knowledge that pertains to any transaction of the CRDF that may be covered by this policy.

2. Refrain from participating in decisions to authorize a transaction when involved in a relationship covered by this policy affecting the transaction except:

   • To provide information when requested, or

   • To provide information known to the Contractor indicating that a proposed or existing transaction could be contrary to this policy.

3. Refrain from dealing on behalf of the CRDF with organizations or persons on transactions covered by this policy, except after full disclosure and with the express written authorization of the Authorized CRDF Representative identified in this Purchase Order or his/her authorized designee.

Contractors are expected to monitor their relationships on an ongoing basis and to report any relationships that might violate this policy. Failure to comply strictly with this policy may result in the immediate termination of this Purchase Order and the return of all funds to CRDF, whether expended or unexpended.

For the purposes of this policy, the following definitions apply:

“Interest” and “having an interest” shall mean a relationship of any kind in which a person or organization is deriving a pecuniary or in-kind benefit from the person or organization with which the CRDF is initiating, selecting, authorizing or implementing a transaction.

“Members of the immediate family” shall mean persons related linearly to the Contractor, e.g. grandparents, parents, children, grandchildren, etc., or to the Contractor's spouse as well as siblings of the Contractor, or the spouse of an of their lineal relatives.

“Organization(s)” shall mean any partnership, group, association, organization, or governmental agency, whether or not formally registered or incorporated or otherwise publicly recognized under the laws of any country.

“Person(s)” shall mean any individual or individuals whether or not they are employees, members, or otherwise associated with any organization covered by this policy.

“Transaction(s)” shall mean any commitment or legally binding obligation of the CRDF with another person or organization.

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