What is the Standard Contracts Library?
The Standard Contracts Library is a collection of contracts created by the lawyers and paralegals in the University's Office of the General Counsel (OGC) for use by University departments when conducting business with non-University organizations. The contracts can be used for a variety of purposes, such as purchasing professional services, renting hotel space for a University event, and selling University products and services to non-University parties.
How do departments benefit from using standard contracts?
Per Board of Regents Policy: Legal Review of Contracts and Transactions, all contracts entered into by University must be reviewed by the OGC. There is also an exemption for contract forms developed by the OGC and for contracts developed by others and approved by the OGC. Standard contracts in this library have already gone through this review and approval process by the OGC, so using them will shorten your contracting process.
Are any other approvals required to use a standard contract from the library?
Maybe. It depends on the specific contract. Subject Matter Experts (SMEs), such as SPA, External Sales, Purchasing, Real Estate and others, have additional approval requirements. You will need to review the contracting requirements on the appropriate SME's website to determine if additional approvals are needed. All contracts reference an owner (someone at the OGC) and a SME contact. If you have questions about what other approvals may be needed, contact the Owner or the SME.
Who in my department has authority to sign a standard contract?