Contract Review Process Policy and Procedures
Disclaimer: The University of Denver Office of University Counsel has prepared this training module for general information and use by University of Denver employees only. The pages are not intended to provide legal advice for any particular situation. Legal advice can be provided only in the course of an attorney-client relationship with reference to all the facts of a specific situation. Accordingly, this information must not be relied on as a substitute for obtaining legal advice from a licensed attorney.
Routing Form Contract Review Process: Background
- Board Approved Policy 2.10.030 regarding Limits of Authority was adopted by the Board of Trustees on October 18, 1993.
- Last amended with respect to designating specific individuals with signing authority on October 11, 2006.
- Policy 2.10.030 requires the review of “contracts” that have:
- performance by University of obligations over a period of one year or more; or
- University commitments in an amount of $20,000 or more; or
- possible indemnification or reimbursement by the University or the creation of a University liability (including from a lawsuit) in an amount of $20,000 or more.
- Policy 2.10.030 defines “CONTRACTS” as any contract or agreement, whether written or oral, which is intended to create a University obligation.
- It is not the name or description given to a document or the specified amount that dictates the University’s requirement for contract review but instead it is the intention of the document, i.e. to create an obligation for the University.
- In general, obligations that should be submitted for contract review include, but are not limited to:
- Goods and services
- Real estate
- Professional and consultant services
- Affiliations (i.e. memoranda of understandings)
- Amendments of existing contracts
- Assumption of risk and releases
- Registration forms for events
- Contracts may only be signed by individuals with authority from the Board of Trustees.