Contract Signature Authority and Board Approvals Policy

The Contract Signature Authority and Board Approvals Policy establishes principles and thresholds to be followed in seeking Board of Regents approval prior to executing a contract. Significant provisions of the policy include the following. 

• Contract is defined to include any agreement which obligates the University to provide goods or services to a third party or which obligates the University to pay a third party for delivery of goods or services.
  • Investment agreements and research agreements are separately governed and, thus, excluded from the scope of the policy.
• The policy recognizes that signature authority has been granted by the Board of Regents to the President and the President is authorized to delegate this authority.
• The policy identifies contractual provisions, including length of term and dollar value of the contract, which trigger the requirement to seek Board of Regents approval prior to executing a contract.