Conflicts of Interest Disclosure:

A conflicts of interest disclosure is a document that requires a party to reveal any actual, potential, or perceived conflicts between their personal or financial interests and their professional or contractual duties. In construction, a conflicts of interest disclosure may be required for project managers, designers, consultants, or other key personnel who have a significant influence on the project’s decisions or outcomes. The disclosure typically includes the identification of the conflicting interests, the nature and extent of the conflict, the measures taken to mitigate or eliminate the conflict, and the consent or waiver of the affected parties. The purpose of a conflicts of interest disclosure is to promote transparency, integrity, and fairness in the project’s governance and execution, and to prevent any bias, favoritism, or impropriety that may undermine the project’s success. A conflicts of interest disclosure should be completed honestly and thoroughly, updated regularly, and reviewed and approved by the appropriate authorities.