[Code of Federal Regulations]
[Title 7, Volume 10]
[Revised as of January 1, 2008]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR1486.511]

[Page 776]
 
                          TITLE 7--AGRICULTURE
 
  CHAPTER XIV--COMMODITY CREDIT CORPORATION, DEPARTMENT OF AGRICULTURE
 
PART 1486_EMERGING MARKETS PROGRAM--Table of Contents
 
             Subpart E_Reporting, Evaluation, and Compliance
 
Sec. 1486.511  What is the general policy regarding ethical conduct?

    (a) The Recipient shall maintain written standards of conduct 
governing the performance of its employees engaged in the award and 
administration of contracts. No employee, officer, or agent shall 
participate in the selection, award, or administration of a contract 
supported by Federal funds if a real or apparent conflict of interest 
would be involved. Such a conflict would arise when the employee, 
officer, or agent and any member of his or her immediate family, his or 
her partner, or an entity which employs or is about to employ any of the 
parties indicated herein, has a financial or other interest in the firm 
selected for an award. The officers, employees, and agents of the 
Recipient shall neither solicit nor accept gratuities, favors, or 
anything of monetary value from contractors, or parties to sub-
agreements. However, Recipients may set standards for situations in 
which the financial interest is not substantial or the gift is an 
unsolicited item of nominal value. The standards of conduct shall 
provide for disciplinary actions to be applied for violations of such 
standards by officers, employees, or agents of the Recipient.
    (b) A Recipient shall conduct its business in accordance with the 
laws and regulations of the country in which an activity is carried out.