Global Programs sends the final version of the draft risk management contract for approval. When the partner institution submits a draft contract, the university/campus program project will provide this project to global programs. Global Programs will audit the project, coordinate Penn State`s internal approval and provide an approved version to the university/campus design partner. (NOTE: It is highly recommended to use Penn State`s designs to ensure faster rotation.) The university/campus designee shares Penn State`s project with the cooperating institution, negotiates a final version and receives the names and titles of all signatories of the institution that cooperated. (NOTE: Partner signatures are not called at this stage. UOGP receives ALL necessary signatures.) The cooperating institution should be reminded that Penn State still needs final authorization before the agreement can be signed. While the contract is for processing, z.B. if the contract has been filed for approval or declined, you can only view the report by selecting the View Contract Deviations option. Signing ceremonies: Signing ceremonies are deterred unless the agreement is of great strategic importance to the university. Colleges/campuses are responsible for organizing a signing ceremony. Global programs should be informed of the date as soon as possible. A contract must be approved before it can be executed.
You can use a single application to approve all types of contracts. Topics: Mastering Contract Management Series Contract Approval Procedure The contract manager is the most important person in the contract process. He or she is the expert who makes the initial finding that Samford should enter into a commercial transaction and what fundamental conditions the transaction should have. The role of the contract manager should not be delegated to an assistant or other colleague who has not cleaned up the object and has not been significantly involved in the verification and approval of the contract document. Before submitting an approval contract, the contract manager should, among other things, read the entire contract, find that the basic conditions are correct and confirm that the contract is in the name of the University of Samford (i.e. the School of Arts, Samford Athletics, CHS and other university units are not contractual units). If a contract is to be audited or specially authorized (e.g. B Chief Grants Officer, Technology Service, Business Services, IRB), the contract manager must send this office a copy of the audit document and specialized comments before beginning the verification process provided by the guidelines. – The rule states that “contracts must be approved if their deposit is less than twice the highest level of an office.” If the price of an office stage is $500 and the deposit is $999, the rule is triggered. If the deposit amount is changed to $1001, the rule will no longer be triggered.
If a new step is added, and its cost is 600, the rule is triggered again, since the required deposit must now be 2 times $600, which is a minimum of 1200. Duration and expiry: Each agreement should have an expiry date (normally no more than 3 to 5 years from the date of the last signing) and subject an extension to a positive assessment of cooperation under the agreement. Automatic extension clauses should be avoided. At Penn State, the evaluation can be conducted jointly by the university/campus, the Graduate School, the Office of Undergraduate Education and global programs, depending on the type of cooperation. The contract approval process is a challenge for many contract management and contract management professionals due to bottlenecks and human error that can lead to longer contractual periods. Deferred contract authorizations may not comply with trade rules, business processes and compliance standards, resulting in missed opportunities for price options and time-critical special conditions.