PLU’s contract review and approval process has been updated in accordance with the President’s April 8th communication. All new and renewing vendor contracts valued at $5,000 or more must be reviewed and approved by President’s Council (PC). Please follow the process listed below:
Process for Review:
- Complete the Contract Review and Approval Form and submit to Director of Risk Services
- Risk Services submits contracts to PC for review and approval. (This will occur every two weeks.)
- Risk Services notifies department of approval.
- Department submits contract, supporting documentation and Contract Checklist to Risk Services.
- Risk Services and any impacted departments review the agreement.
- Risk Services has contract signed and returns to Department.
- Department is responsible for providing Risk Services with the fully-executed agreement and submitting any required purchase orders.
Please contact Risk Services at x7116 or email@example.com if you have any questions or concerns.
What is considered a contract?
A contract is an agreement between two entities which serves as legal protection for both parties involved. Contracts are sometimes labeled as a Service Agreement, Terms of Service, Memorandum of Understanding, Memorandum of Agreement, Statement of Understanding, Facilities Use Agreement, Lease Agreement, etc.