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Contracts

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A contract is any agreement between the University and another party that creates an obligation, right, or liability. Income, expense, or zero dollar activities may require a contract. This includes agreements for services (personal, professional, or consultant), catering, hotel room blocks, trade-show booth rentals, conference room rental at hotels, international travel groups, software purchases, etc.

Any agreement (regardless of the amount or title of the document) that requires a signature for terms, conditions, rules, or liability should be sent to the Business Services Office for processing.

NO INDIVIDUAL IN FACILITIES SERVICES ADMINISTRATION HAS AUTHORITY TO SIGN A CONTRACT ON BEHALF OF UTK.

All agreements should be submitted to Richard Johnson (974 -7794) when they are first received, and allow sufficient time for the review process. This can be done weeks or even months before the start date.

The Business Services Office will review the agreement, prepare the appropriate documentation, and submit to the campus contracts office for legal review and the appropriate signature.

Purchase of any good(s) or service(s) equal to or over $10,000 requires a contract or purchase order, and must be acquired through the university competitive bid process or approved by purchasing through non-competitive justification. Additional lead time is required to process either the bid or the non-compete justification.

The same procedure for processing contract invoices should be followed as for regular invoices except the contract number should be referenced on the invoice and GL Account 437500 should be used.

More in depth details regarding contracts can be found on the UT Fiscal Policy Web site: http://policy.tennessee.edu/fiscal_policy/fi0420/

If you have any questions about Contracts, please contact Richard Johnson at (865) 974-7794 or rjohns92@utk.edu.

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