CONFLICTS OF INTEREST
Conflicts of Interest
Conflicts of Interest
We must avoid any relationship or activity that might impair, or even appear to impair, our ability to make objective and fair decisions when performing our jobs. At times, we may be faced with situations where the business actions we take on behalf of Gyro Consulting Services may conflict with our own personal or family interests. We owe a duty to Gyro Consulting Services to advance its legitimate interests when the opportunity to do so arises. We must never use Gyro Consulting Services property or information for personal gain or personally take for ourselves any opportunity that is discovered through our position with Gyro Consulting Services.
Here are some other ways in which conflicts of interest could arise:
- Being employed (you or a close family member) by, or acting as a consultant to, a competitor or potential competitor, supplier or contractor, regardless of the nature of the employment, while you are employed with Gyro Consulting Services.
- Hiring or supervising family members or closely related persons.
- Serving as a board member for an outside commercial company or organization.
- Owning or having a substantial interest in a competitor, supplier or contractor.
- Having a personal interest, financial interest or potential gain in any Gyro Consulting Services transaction.
- Placing company business with a firm owned or controlled by a Gyro Consulting Services employee or his or her family.
- Accepting gifts, discounts, favors or services from a customer/potential customer, competitor or supplier, unless equally available to all Gyro Consulting Services employees.
Determining whether a conflict of interest exists is not always easy to do. Employees with a conflict of interest question should seek advice from management. Before engaging in any activity, transaction or relationship that might give rise to a conflict of interest, employees must seek review from their managers.
Gifts, Gratuities and Business Courtesies
Gyro Consulting Services is committed to competing solely on a merit of our products and services. We should avoid any actions that create a perception that favorable treatment of outside entities by Gyro Consulting Services was sought, received or given in exchange for personal business courtesies. Business courtesies include gifts, gratuities, meals, refreshments, entertainment or other benefits from persons or companies with whom Gyro Consulting Services does or may do business. We will neither give nor accept business courtesies that constitute, or could reasonably be perceived as constituting, unfair business inducements that would violate law, regulation or polices of Gyro Consulting Services or customers, or would cause embarrassment or reflect negatively on Gyro Consulting Services’ reputation.
Accepting Business Courtesies
Most business courtesies offered to us during our employment are offered because of our positions at Gyro Consulting Services. We should not feel any entitlement to accept and keep a business courtesy. Although we may not use our position at Gyro Consulting Services to obtain business courtesies, and we must never ask for them, we may accept unsolicited business courtesies that promote successful working relationships and good will with the firms that Gyro Consulting Services maintains or may establish a business relationship with.
Employees who award contracts or who can influence the allocation of business, who create specifications that result in the placement of business or who participate in negotiation of contracts must be particularly careful to avoid actions that create the appearance of favoritism or that may adversely affect the company’s reputation for impartiality and fair dealing. The prudent course is to refuse a courtesy from a supplier when Gyro Consulting Services is involved in choosing or reconfirming a supplier or under circumstances that would create an impression that offering courtesies is the way to obtain Gyro Consulting Services business.
Meals, Refreshments and Entertainment
We may accept occasional meals, refreshments, entertainment and similar business courtesies that are shared with the person who has offered to pay for the meal or entertainment, if:
- They are not inappropriately lavish or excessive.
- The courtesies are not frequent and do not reflect a pattern of frequent acceptance of courtesies from the same person or entity.
- The courtesy does not create the appearance of an attempt to influence business decisions, such as accepting courtesies or entertainment from a supplier whose contract is expiring soon.
- The employee accepting the business courtesy would not feel uncomfortable discussing the courtesy with his or her manager or co-worker or having the courtesies known by the public.
Gifts
Employees may accept unsolicited gifts, other than money, that conform to the reasonable ethical practices of the marketplace, including:
- Flowers, fruit baskets and other modest presents that commemorate a special occasion.
- Gifts of nominal value, such as calendars, pens, mugs, caps and t-shirts (or other novelty, advertising or promotional items).
Generally, employees may not accept compensation, honoraria or money of any amount from entities with whom Gyro Consulting Services does or may do business. Tangible gifts (including tickets to a sporting or entertainment event) that have a market value greater than $100 may not be accepted unless approval is obtained from management.
Employees with questions about accepting business courtesies should talk to their managers.
Offering Business Courtesies
Any employee who offers a business courtesy must assure that it cannot reasonably be interpreted as an attempt to gain an unfair business advantage or otherwise reflect negatively upon Gyro Consulting Services. An employee may never use personal funds or resources to do something that cannot be done with Gyro Consulting Services resources. Accounting for business courtesies must be done in accordance with approved company procedures.
Other than to our government customers, for whom special rules apply, we may provide non-monetary gifts (i.e., company logo apparel or similar promotional items) to our customers. Further, management may approve other courtesies, including meals, refreshments or entertainment of reasonable value, if:
- The practice does not violate any law or regulation or the standards of conduct of the recipient’s organization.
- The business courtesy is consistent with industry practice, is infrequent in nature and is not lavish.
- The business courtesy is properly reflected on the books and records of Gyro Consulting Services.
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