Policy Number: 300-007 Business and Finance
Policy Title: Contracting Process Standard Operating Procedure (SOP)
Responsible Officer: Chief Financial Officer Delegated to the Chief Procurement Officer
Responsible Offices: Office of the Chief Financial Officer Delegated to the Office of Procurement and Contracting and the Office of the Controller
Effective Date: June 28, 2021
Next Review Date: June 28, 2023
Summary: In a dynamic and litigious society, the contracting process must address a host of issues to protect the best interests of the University. The best interests of the University include but are not limited to compliance with regulations and policies, a clear statement of the scope of work and deliverables, acceptable business terms, submitted in a customary format that allows both parties to seamlessly input changes so that terms can be negotiated in the most effective and expedited manner, acceptable litigation and/or arbitration recourse, and protected information considerations. These issues require expert review and are best resolved by formalizing agreements in writing. The Office of Procurement and Contracting has the expertise and central position to review agreements for conflicts of interest and business considerations and, as further set forth below, to solicit additional input from University Office of the General Counsel, Risk Management, the Budget Office and other University departments as needed to help ensure that the University’s and Hospital’s interests are protected. Related: 300-007 Contracting Policy. See also: Office of the General Counsel: Contracting Process.
Keywords: procurement, business process, contract, agreement, goods and services,