The Finance Office, in consultation with the Vice President and General Counsel’s Office (the “General Counsel”) reviews all contracts before they go to the Senior Vice President for Finance and Administration for signature. A contract is considered any written document that commits the University to certain obligations. It is usually a financial obligation, but can also be non-financial obligation (i.e. use of logos, university resources, indemnification, etc.). The review process is as follows.
- Review the contract prior to sending it to Contract.Review@valpo.edu to make certain that it conforms to your departments’ needs and expectations. You are in a better position to know if VU can perform the obligations under the contract. Contract negotiations (including pricing, terms, and other obligations) and budget funding must be finalized before submitting for review and signature.
- If the contract is to be paid through the requisitions process, please create the requisition and email the contract needing review to Contract.Review@valpo.edu in Microsoft Word or PDF format. The subject line of the email must include the requisition number and the name of the contract company/individual. The Word format is preferred due to its “track changes” feature which is excellent for contract review and negotiations. If it is not possible to obtain the contract in Word format then PDF format is acceptable. If the contract is only available in hardcopy, scan it into PDF format (no JPEGs) and email it Contract.Review@valpo.edu. Please copy your email to your vice president or the provost so that he/she is aware of the pending contract.
- Send the contract as early as possible as it may take 2-3 weeks before it can be reviewed. The terms will be negotiated with the other party through you. Versions may go back and forth until the negotiations are complete. At that point in time, a final version will go to the Senior Vice President for Finance and Administration, along with a copy of the requisition and legal advice from the General Counsel. The Senior Vice President for Finance and Administration will make the decision whether or not to execute the contract. He/She may contact you for further information.
- When submitting a contract please include follow-up instructions for handling of the approved and signed document. The department may be notified for pick-up, it may be returned through campus mail, or forwarded to the Procurement Department to accompany your purchase order.
- Again, when submitting a contract that involves a purchase, the department must create a requisition first. Please note within the comments of the requisition that there is a contract that must accompany the purchase order and reference the requisition number in your communication to Contract.Review@valpo.edu when submitting the contract for review. Once it is approved and signed, the document can be forwarded directly to Procurement. Please note that only the Senior Vice President for Finance and Administration, the Provost, and the President have the Board authorized authority to sign and enter into contracts on behalf of the University. Please review the Office of Procurement's procedures for proper processing at https://www.intra.valpo.edu/procurement/policies/index.php