What action must contractors take if they identify a conflict of interest during an Agreement?

If contractors identify a conflict of interest during an Agreement, the appropriate action is to promptly notify the City. This is crucial as it ensures transparency and adherence to ethical standards while engaging with city contracts. The City is responsible for maintaining the integrity of its procurement processes and must be aware of any potential conflicts that may compromise that integrity.

Notifying the City allows for a timely response to the issue, which could include reassessing the contract, re-evaluating the contractor's position, or implementing measures to alleviate the conflict. This process is not only about compliance but also about protecting the interests of the City and ensuring that all dealings are free from undue influence or bias.

In contrast, contacting a regulatory body may address broader concerns but does not directly inform the City, which is essential in this context. Alerting stakeholders could be part of good communication practices, but it does not fulfill the requirement to notify the City itself. Resolving the conflict independently does not provide the necessary transparency and could lead to further issues if the resolution does not align with the City’s policies and procedures. Therefore, the most appropriate and responsible action is to promptly notify the City.