UNIVERSITY OF VIRGINIA
FINANCIAL AND ADMINISTRATIVE PROCEDURES MANUAL
TITLE: PREPARATION OF CONTRACT APPROVAL SHEET PROCEDURE: 7-70
Policy Reference: VII.R.1, VII.R.2
Form: Contract Approval Sheet
Obtain Blank Forms From: Purchasing,
Carruthers Hall
Forward Completed Forms To: One of the following offices.
TYPE OF CONTRACT RESPONSIBLE OFFICE
Academic Consulting Office of Sponsored Programs
($600 or greater)
Real Estate Leases, Space and Real Estate Management,
Easements, etc. Facilities Management
Educational Services, Office of the Assistant VP for
Investments Finance and Univ Comptroller
ADP, Word Processing Purchasing
Insurance Agreements Office of Risk Management
Services provided by Office of the Executive Director,
University of Virginia University of Virginia Medical
Medical Center Center
Procurement of goods or Purchasing
services NOT listed above
All other contracts Office of the Assistant VP for
Finance and Univ Comptroller
Distribution Instructions
The requesting department will receive the green copy of page two
of the Contract Approval Sheet as either confirmation of the
contract acceptance after the control number has been assigned or
as disapproval of the contract with the word "DISAPPROVED" written
across it.
NOTE: All contracts must have an end date which includes the
month, day and year of expiration.
All other copies of the Contract Approval Sheet should be
distributed by the responsible office as indicated on the bottom of
page two.
NOTE: All contracts and Contract Approval Sheets forwarded to the
Purchasing must be accompanied by a
completed Purchase Requisition form.
See also Procedure 7-ll, "Preparation of Purchase Requisition."
NOTE: ADP and WORD PROCESSING AGREEMENTS must be accompanied by a
completed CC21 form in addition to the original contract(s),
Contract Approval Sheet, and Purchase Requisition. (Contact the
Department of Administrative Computing Services for instructions.)
NOTE: TELECOMMUNICATIONS AGREEMENTS must be accompanied by a
completed TCI form and if required, a State Agency Media Sevices
Request Form in addition to the original contract(s), Contract
Approval Sheet and a Purchase Requisition.
NOTE: CONTRACT RENEWALS require completion of a new Contract
Approval Sheet, referencing the contract control number of the
original contract.
See also Procedure 7-40, "Preparation of Request for
Telecommunications Equipment".
Purpose
To document (1) all required contract reviews, (2) signing of the
original agreement(s) by an authorized signatory, and (3)
assignment of a control number for reporting and control purposes.
Processing Instructions
The first five (5) parts of the Contract Approval Sheet, the
ORIGINAL Contract(s), and all other attachments should be submitted
to ONE of the responsible offices listed above. The Goldenrod copy
of the Contract Approval Sheet and a copy of the contract should be
retained by the requesting department.
After completing the approval process, the signed contract will be
forwarded to or processed by Purchasing if a
completed purchase requisition is included. Otherwise, the signed
contract will be returned to the department to return to the other
contracting party.
One ORIGINAL executed contract must be returned to the appropriate
responsible office processing the agreement to be included in their
central file of original executed contracts.
No payments can be made on a contract unless the control number
appears on the voucher.
Individuals negotiating contracts that are not authorized
signatories must indicate, preferably in writing, that the contract
is not executed until signed by an authorized signatory.
Form Completion Instructions
The numbered items on the form should be completed as indicated by
the corresponding numbers below:
1. Requesting School/Department name and address. Enter the name
and telephone number of an individual to whom questions about
the contract can be directed.
2. Name and address of the other contracting party.
3. Brief description of goods or services to be procured or
reference to a descriptive attachment.
If this contract will replace, renew or amend an existing or
recently expired contract, the control number of the previous
contract should be referred to in this section.
4. Date contract goes into effect.
5. Date contract expires.
All contracts must have an end date which includes the month,
day and year of expiration.
6. Date by which contract may be renewed or is automatically
renewed by terms of the agreement.
7. Date first payment is due.
8. Frequency of payments (weekly, monthly, quarterly, annually,
other).
9. Amount due each payment period.
10. Total amount of contract. (Approximate if necessary.)
11. University Account Code to be charged or credited.
12. FOR LEASE AGREEMENTS ONLY
The LEASE/RENTAL BOX should be checked if the ownership of the
property remains with the LESSOR at the end of the lease term.
The LEASE/PURCHASE BOX should be checked if the lease
transfers ownership of the property to the LESSEE at the end
of the lease term.
13. Check ONE of the boxes:
The LESS THAN ONE YEAR AND LESS THAN $5,000 BOX should be
checked if the contract has a termination or cancellation
clause that allows the contract to be terminated in less than
12 months and the total amount of the contract (No. 10 on the
previous page) is less than $5,000.
The ONE YEAR OR GREATER OR $5,000 OR GREATER BOX should be
checked if the contract CANNOT be terminated or cancelled
within less than 12 months or if the total amount of the
contract (No. 10 above) is $5,000 or greater.
14. Complete as indicated.
The signature of an individual from the requesting department
certifies that the contract has been read and reviewed for
compliance with University and department policy and the
provisions of the contract are acceptable (see example of
terms requiring review listed in Section 10).
15. TO BE COMPLETED AS INDICATED ONLY IF SECTION 10 (NO. 14 ABOVE)
WAS NOT SIGNED BY THE DEPARTMENT HEAD.
16. The person authorized by The Board of Visitors to sign the
contract for the University will assign a control number i.e.,
purchase order number, contract control number, State lease
number, after any required modifications to the contract have
been accomplished.
A control number must appear on all vouchers forwarded for
payment.
ISSUED BY: 04/02/90
Assistant VP for Finance and
University Comptroller 7.70.4