Contracts amp; Debt Collection.ppt

Contracts Debt Collection October 2001 North Carolina State University David Drooz Contracts What is a contract? Who can sign contracts for NCSU? What is the NCSU contract procedure? What is a contract AN AGREEMENT BETWEEN TWO OR MORE PARTIES TO DO OR NOT DO A PARTICULAR THING Oral or written or electronic Even if no money is involved What is a contract Requirements are: Clear terms Mutual agreement on the terms Mutual obligations Exchange of value Legally competent parties What is a contract - hypos Donor makes unrestricted gift to NCSU Organization makes grant to NCSU, where NCSU must provide research report to them Prof gives stipend to TA for grading papers Staff downloads free Adobe software Dean hires caterer for campus event College gets use of Reynolds Col. for event What is a contract - hypos College gets use of Civic Center for event NCSU lab performs materials test for outside company Dept head sends offer letter to applicant for tenure track position Prof seeks permission to use journal article in a coursepack Who can enter a contract Authority to bind NCSU to contracts is limited Chancellor has full executive authority based on statute and the UNC Code includes the authority to sign contracts for NCSU unless otherwise prohibited Who can enter a contract Chancellor can delegate the power to sign Provost: academic cooperation agreements V.C. for Research: sponsored programs and tech transfer agreements V.C. for Finance Business: everything else* Who can enter a contract V.C. for F B: almost everything else* * contracts over $250,000 are routed to Purchase Contract in the NC Dept of Adminstration for approval. Once approved, NCSU Purchasing agent may sign a university purchase order. Who can enter a contract V.C. for F B: almost everything else* * some other transactions require special approvals: real estate transactions construction projects hiring outside counsel etc. Who can enter a contract Sub-delegations: Dire