COI (Conflict of Interest)

Conflict of Interest (COI) in procurement is defined as any situation in which a purchaser, vendor, or other person involved in the procurement process stands to receive personal, corporate, financial, or other benefits that could be seen as influencing the outcome of the procurement decision. This includes situations when an individual or entity has a direct or indirect ownership interest in a company that is bidding on a contract, any type of personal relationship between the purchaser and the bidder, or where a family member works for a potential bidder. All parties involved in the procurement process must take reasonable steps to ensure that these types of conflicts of interest are identified and managed appropriately, protecting the integrity of the procurement process.