A contract is an agreement between two or more entities which creates an obligation to do or not do a particular thing (Black’s Law Dictionary, fifth edition). A business contract/agreement is one of a variety of formats used to document and carry out the business relationships of the campus.
Examples of documents that constitute a contract are memorandum of understanding (MOU), Purchase Orders containing terms and conditions, permits, or applications that are signed to accept terms and conditions. The University requires that all of its contracts/agreements be put in writing in advance to protect the interests of both parties and to reduce any misunderstandings.
Only certain University administrators have the authority to sign contracts. Please refer to the policy whenever you have a question about signature authority.