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Conflict Of Interest Waiver Template for Philippines

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Key Requirements PROMPT example:

Conflict Of Interest Waiver

"I need a Conflict of Interest Waiver for our company's newly appointed independent director who also serves on the board of a competing telecommunications company, ensuring compliance with Philippine corporate governance requirements and SEC regulations."

Document background
The Conflict of Interest Waiver is a critical document used in Philippine business and professional contexts where potential conflicts need to be formally disclosed and waived. It is particularly relevant in situations involving corporate officers, directors, public officials, or professional service providers who may have competing interests or obligations. The document ensures compliance with Philippine regulations, including the Revised Corporation Code, Anti-Graft and Corrupt Practices Act, and relevant SEC regulations. It should be used when a party has identified a potential conflict of interest that requires formal disclosure and explicit waiver from affected parties. The waiver typically includes detailed information about the nature of the conflict, the parties involved, the scope of the waiver, and relevant compliance requirements under Philippine law.
Suggested Sections

1. Parties: Identification of the parties involved - the person/entity with the conflict and the person/entity granting the waiver

2. Background: Context of the relationship between the parties and the general nature of the conflict of interest situation

3. Definitions: Key terms used in the waiver, including 'Conflict of Interest', 'Related Party', 'Material Interest', etc.

4. Disclosure of Conflict: Detailed description of the actual or potential conflict of interest being disclosed

5. Nature of Interest: Specific details about the conflicting interest, including financial or personal relationships

6. Waiver Provisions: Express waiver of the conflict of interest and specific permissions being granted

7. Acknowledgments: Statements confirming that all parties understand the nature of the conflict and the implications of the waiver

8. Duration and Scope: Temporal scope of the waiver and specific activities or transactions covered

9. Compliance with Laws: Confirmation that the waiver complies with relevant Philippine laws and regulations

10. Execution: Signature blocks and execution requirements

Optional Sections

1. Public Official Provisions: Additional provisions required when the conflict involves a public official or government entity

2. Corporate Authority: Required when the waiver involves corporate officers or directors, confirming board approval

3. Regulatory Disclosure: Required for regulated entities or public companies needing to disclose the waiver

4. Revocation Terms: Optional provisions specifying conditions under which the waiver may be revoked

5. Confidentiality: Terms regarding the confidentiality of the disclosed information, if required

6. Periodic Review: Provisions for periodic review and renewal of the waiver, if applicable

Suggested Schedules

1. Schedule A - Detailed Conflict Disclosure: Comprehensive description of all relevant conflicts, interests, and relationships

2. Schedule B - Related Party Transactions: List and details of any related party transactions covered by the waiver

3. Schedule C - Corporate Resolutions: Copies of relevant board resolutions or corporate approvals

4. Appendix 1 - Supporting Documentation: Any relevant supporting documents evidencing the nature of the conflict

5. Appendix 2 - Compliance Certificates: Required certificates or confirmations from relevant regulatory bodies or compliance officers

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions

































Clauses






























Relevant Industries

Banking and Financial Services

Construction

Education

Government and Public Sector

Healthcare

Insurance

Legal Services

Manufacturing

Professional Services

Real Estate

Telecommunications

Transportation and Logistics

Relevant Teams

Board Affairs

Compliance

Corporate Governance

Corporate Secretariat

Ethics

Executive Management

Legal

Public Relations

Regulatory Affairs

Risk Management

Relevant Roles

Board Member

CEO

CFO

Chief Compliance Officer

Company Secretary

Corporate Governance Officer

Director

Executive Officer

General Counsel

Independent Director

Managing Partner

President

Public Official

Senior Manager

Vice President

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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