C.3 Stages of disclosure

Advisors have an ongoing obligation to disclose potential, perceived and actual conflicts of interest during the term of the engagement as they become aware of them.

• Pre-engagement phase. Advisors to PPP projects are usually required to sign a COI declaration and confidentiality deed and disclose any actual, potential or perceived COI relating to their proposal before any engagement.

• During the term of the advisor's engagement. During the advisor's engagement on the project, periodic reviews at critical milestones should be undertaken to ensure that all COI events have been declared and managed. If there is any change to the advisor's situation that may give rise to a conflict of interest, then once they become aware of it, the advisor is required to bring it to the attention of the Project Director. There are four stages at which the Project Director should formally seek disclosures:

before issuing EOI (in relation to known project consortia which have declared intent to bid);

before evaluating EOIs for short-listing (in relation to known project consortia);

before issuing the RFP (in relation to know project consortia and subcontractors); and

before announcing a preferred tenderer and beginning contract negotiations (affirmation of previous disclosures).

• Post-engagement. The contract with the advisor may impose responsibilities that continue after the engagement has ended. These may include, for example, not 'switching sides' to subsequently act on behalf of another party in the project. The Project Director will offer advice to advisors, should it be required, to ensure they meet these requirements on completing their engagement.

As a general rule, most disclosures proceed to a further assessment, although general exceptions are permitted.