Any type of agreement that obligates the University to provide payment, services, goods or use of University properties, facilities or other resources to an external party (hereinafter "contracts") must be signed by the President or designee. This includes any contract that requires a signed University-approved agreement (expenditure, non-expenditure, and revenue-generating). (See University's Contract and Signatory Policy UM1571).
- For contracts not requiring TBR approval, the Director of Procurement and Contract Services has delegated authority to execute contracts on behalf of the University that do not exceed $249,999, which include: Personal, professional and consultant services contracts and dual services contracts not requiring TBR approval; trademark license contracts; continuing education and public service short training course and space use contracts; and other contracts of a similar nature which generally are considered to be the department's responsibility within the University, which do not require the President's and/or TBR's approval.
- Contracts of $5,000 or more require the approval of the Director of Procurement and Contract Services.
- All proposed contracts of $10,000 or more must be competitively bid unless adequate "sole source" justification is provided.
- Authorized Signatory Approval for University Contracts
- Director of Procurement and Contract Services signs contracts up to $249,999
- President and Chancellor sign contracts of $250,000 or more
- Prior approval of Fiscal Review Committee is required on all non-competitive (i.e., "sole source") contracts of $250,000 or more, and for a term greater than one (1) year. This process requires at least 75 calendar days prior to the effective start date.
- All proposed contracts shall be approved by all parties prior to the effective start date.