Signature Authority on Contracts 1003

Definitions:

Contract/Contractual Agreement: A legal obligation, typically in written form, between the university or any unit within the university and any other entity. These include purchase agreements, employment contracts, memoranda of understanding/agreement, collaboration agreements, real estate contracts, contracts to acquire goods or services, and affiliation agreements.

Sign/Signature: Agreeing to a contract, either through signing a hard copy of the document or legal affirmation of a contract through electronic means.

Signature Authority: Authority granted to specific individuals allowing specified individuals to legally bind the university.

Policy Statement:

This policy applies to contractual agreements entered into by the university or its departments or administrative units. It applies to all employees.

The rector, president and vice president for administration and finance have signature authority on any university contract. The vice president for administration and finance may delegate signature authority to a university vice president, including the director of athletics. Such delegation of signature authority by the vice president for administration and finance must be in writing.

Any and all contracts, including memorandums of understanding/agreement, collaboration agreements and affiliation agreements, must be signed by an authorized legal representative of the university with signature authority.

Approved by the Board of Visitors, December 1, 2017.