Signatures on Agreements and Contracts

Contracts are defined as:

• A legally binding promise, enforceable by law. An agreement between parties, with binding legal and moral force, usually exchanging goods or services for money or other consideration. All types of agreements, regardless of what they may be called, for the procurement or disposal of supplies, services, or construction.
• An agreement between a contracting authority and a person or business unit to provide a good, perform a service, construct a work, or to lease real property for appropriate consideration.

The authority to execute University contracts is vested in the President of the University; however, the President has delegated to both the Vice President for Finance and Administration and the Provost and Vice President for Academic Affairs authority to execute University contracts. No one else is authorized to sign purchasing contracts or agreements on behalf of the University. Unless special delegation has been granted to an individual within the department, any purchasing contract requiring a signature on behalf of the University should be routed to Procurement Services for approval by being attached to a Banner Requisition.