Fillable CONTRACT REVIEW FORM (Mississippi Valley State University)

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CONTRACT REVIEW FORM (Mississippi Valley State University)

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__ Check for ITS related contracts

__ Check for no amount

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__ Check if multi-year contract

CONTRACT REVIEW FORM

Title of Contract: ________________________________________________________________

Originating Department: _________________________________________________________

Amount of Contract: $________________________

1. The attached contract is recommended for approval.

Contract Administrator ____________________________ Date: ___________________

Department Head ________________________________ Date: ___________________

Comments: ______________________________________________________________

________________________________________________________________________

2. Recommend ___Approval ___Disapproval

Area Vice President_______________________________ Date: ___________________

Comments: ______________________________________________________________

________________________________________________________________________

3. Recommend ___Approval ___Disapproval

Director of Information Technology__________________ Date: ___________________

Comments: ______________________________________________________________

________________________________________________________________________

4. Recommend ___Approval ___Disapproval

Vice President for Business & Finance________________ Date: ___________________

Comments: ______________________________________________________________

________________________________________________________________________

5. Reviewer Administrator___________________________ Date: ___________________

(President’s Office)

6. Recommend ___Approval ___Disapproval

University President_______________________________ Date:___________________

Comments:______________________________________________________________

________________________________________________________________________

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Contracts Management Policy

PURPOSE

To establish a university-wide policy on contracting, approval, signatory authority, and required

contract review

POLICY STATEMENT

All contracts, agreements, memoranda of understanding and similar documents legally binding

Mississippi Valley State University are subject to the review and approval procedures found in

this policy.

Mississippi Valley State University (MVSU) enters into many contractual agreements each year

with third parties that provide a wide array of activities involving University funds, facilities,

personnel and other resources. The University will only be bound by written contracts to which

the University or a department is formally a party, that have been reviewed and approved in

accordance with this policy, and that have been executed by University officials who have

contract signature authority. No member of the University community, including programs and

departments of the University, has the authority to sign contracts on behalf of the University.

This policy describes the University’s review and approval requirements and recordkeeping

requirements for all contracts.

This policy, which pertains to all faculty, staff and administrators, applies to any type of

agreement that obligates the University to provide payment, services, goods or use of University

property, facilities or other resources to a third party. Contractual agreements governed by this

policy include, but are not limited to:

 Leases

 Licenses

 Service agreements

 Insurance contracts

 Collections contracts

 Maintenance contracts

 Consulting agreements

 Research agreements

 Affiliation agreements

 Entertainment/performance agreements

 Speaker agreements

 Sporting event agreements

 Copier Contracts

 Outsourcing Contracts

 Memoranda of Understanding/Agreement

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AUTHORITY TO DELEGATE AND EXECUTE

Pursuant to IHL Board Policy 301.0703, the Authority delegated to the Institutional Executive

Officer (IEO), such as authority to sign contracts, can be delegated by the IEO to “appropriate and

responsible officials” of the University, but that delegation by the IEO must be in writing.

The President is designated as the authorizing official for the University to execute any

documents relating to or on behalf of the University. Anyone who signs a contract without

written delegation authorizing them to do so is subject to disciplinary action, up to and including

termination, and may be legally and financially liable for representations made in the contract.

Any employee who has a conflict of interest with respect to a contract should not be involved in

the approval process with respect to the contract.

The Athletic Director is authorized to sign approved Athletic Contracts that relate to games,

athletic facilities, etc.; however, the Athletic Director is not authorized to enter into

agreements/contracts related to personnel. Athletic Coaches do not have signatory authority and

are not authorized to enter into a contract on behalf of the Athletic Department or University

unless they have specific written authority to do so.

REVIEW AND APPROVAL PROCESS

All contracts or agreements require the Contract Review Form. The purpose of this form is to

inform the Area Vice President, Director of Information Technology, Vice President for Business

and Finance/CFO and Office of the President that the contract is being recommended for

approval. This review is designed to provide reasonable assurance that contracts and agreements

have been reviewed for availability of funds, risk, compliance, form and legal sufficiency. Until

the contract or agreement has been reviewed and signed by the University President, the

document shall not be considered legally binding. All contracts executed are held in the

University’s master contract file located in the Office of Business and Finance. The Office of the

President is responsible to ensure contracts requiring IHL Board approval are submitted to the

Board prior to final execution.

CONTRACT ADDENDUM

Contracts with external parties and individuals should have MVSU’s Standard Terms and

Conditions Addendum attached. The contract addendum is available on the Business and Finance

website.

CONTRACT ADMINISTRATOR

The Contract Administrator (CA) is the individual within the requesting department with the

ultimate responsibility to ensure MVSU receives the services and/or revenue set forth in the

contract, that MVSU pays the amount set forth in the contract for any services, and that the

contract is reviewed prior to renewal if applicable. To properly fulfill this function, it is imperative

that the CA fully understand the scope of the contract as well as the requirements set forth in

the agreement. Some of the aspects the CA may want to review are:

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1. Verification that all services are being performed as set forth in the contract;

2. Verification that all revenues are being received as set forth in the contract;

3. Verification that all applicable bonds and insurance documents have been received and

are determined to be adequate.

If the Contract Administrator leaves his/her position during the term of the contract, or the

department changes the Contract Administrator, it is the responsibility of the department to

immediately notify the Office of the President.

The Contract Administrator is responsible for working with the contractor to revise/edit the

agreements in accordance with any recommended change. In some cases, resubmission or final

review/approval may be required. The Contract Administrator should not negotiate with

attorneys for the contractor. Any attorney who wishes to communicate directly with the

University should be referred to the Office of the President.

IHL BOARD APPROVAL

IHL Board approval is required for all contracts of more than $250,000. IHL Board approval is also

required for all bookstore and food service projected to generate aggregate total revenues or

more than $250,000 or if the term of such contract exceeds four years. When submitting a

contract requiring IHL Board approval, the department should submit the proposed contract.

The Office of the President will review the documents for inclusion on the IHL Board agenda and

work with the CA for required documents.

CONTRACTS AND PURCHASES RELATED TO INFORMATION TECHNOLOGY

All contracts and purchases of Information Technology equipment, software and services will be

reviewed by the Information Technology Director prior to processing by the Office of the

President.

REVIEW

This policy will be reviewed every three (3) years or as needed by the Office of the President.

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