| Abstract | The University is an organization that, like any other organization or corporation, acts through people who have the authority to act for it. The University’s Board of Trustees, by statute, is the contracting agent of the University. The Board of Trustees has authorized the President of the University, as the chief executive officer, to enter into contracts for the purchase, sale, lease, license, and acquisition of commodities, goods, supplies, equipment, services, and real property, as well as the authority to bind the University in other types of contracts. The proper delegation of authority to execute contracts with external entities is necessary to minimize legal, financial, and related risks to the university. This policy clarifies which employees of the University have authority to sign contracts, the parameters of that authority, and to whom such authority may be delegated. |
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