|Policy:||Policy 7-1-1: Contracts||Date Adopted:||Jul 23, 2003|
|Department:||Finance & Administration||Contact:||Vice President of Finance and Administrative Services|
|Statement:||WNC handles all non-employment contracts in the manner outlined in the following procedure.|
Section 1: Definitions
- Contract – as defined in the NSHE Procedures Manual, Chapter 5, Section 3:
- “A contract is an agreement between two or more persons (or entities) that creates an obligation to do or not to do a particular thing. Its essential components are competent parties (persons or entities legally capable of contracting), subject matter (the purpose of the contract), a legal consideration (the inducement to contract, usually money or something of value, but also including mere promises to perform something or refrain from doing something), mutuality of agreement (all parties must voluntarily enter the contract) and mutuality of obligation (all parties are obligated to do something or not to do something they otherwise have a right to do).
- Labels do not control whether a contract exists or not. The following, which are not meant to be all-inclusive, are all contracts as they constitute an agreement between two or more persons that creates an obligation to do or not to do a particular thing (this policy does not include letter of appointment contracts):
- rental agreement
- letter or memorandum of intent
- letter or memorandum of agreement
- letter or memorandum of understanding
- employee separation agreement
- facility use agreement
- education affiliation agreement
- purchase order
- grant application
- grant agreement”
- To be valid, the agreement must state that it is entered into by the BOARD OF REGENTS OF THE NEVADA SYSTEM OF HIGHER EDUCATION, on behalf of Western Nevada College. Similarly, the signature block should read:THE BOARD OF REGENTS OF THE NEVADA SYSTEM OF HIGHER
EDUCATION, on behalf of Western Nevada CollegeBy: ______________________________
Chancellor (or appropriate title if
signature has been delegated)
Section 2: Signature Authority
- The president, pursuant to the delegation of authority from the Chancellor set forth in the NSHE Procedures Manual, Chapter 5, Section 3, Question 13, has signature authority for all contracts which require consideration (cash, property, or services) valued at one million dollars ($1,000,000) or less calculated by adding the total cumulative payments, delivery or performance over the entire term of the contract, and which are for terms of five years or less or which provide the right to renew for terms that do not exceed five years in the aggregate and other prescribed agreements. Contracts exceeding these limitations must be recommended by the President and forwarded to the Chancellor for signature.
- The president, pursuant to authorization granted in the NSHE Procedures Manual, Chapter 5, Section 3, Question 14, has delegated to the vice presidents of Academic and Student Affairs, Finance and Administrative Services, Development and External Relations, and Human Resources and General Counsel signature authority for their appropriate areas, with the following limitations:
- The contract must not exceed $100,000.00.
- The contract must not exceed one year in duration.
- Notwithstanding the delegation of authority set forth above, no vice president shall enter into a contract that substantially impacts the college without informing the president and obtaining the president’s authorization to execute such an agreement.
- A letter memorializing the President’s delegation is on file in the President’s Office. Any contract exceeding the foregoing limitations must be signed by the President or his/her designee in times of absence.
Section 3: Contracting Procedures
- All contracts must be reviewed by the Vice President of Administrative and Legal Services/General Counsel prior to signature.
- A signed contract must be on file in the vice president of Finance and Administrative Services office prior to the effective date of the contract.
- The Facilities Management & Planning department is responsible for coordinating and processing on-site Facility Use Agreements for the college.
Section 4: Signature Authorization Form
- Yellow Signature Request & Certificate of Signature Authority coversheets should accompany three original contracts
- These forms are available at https://intranet.wnc.edu/departments/finance/.
Section 5: Exceptions
- Any exceptions to this policy require the written approval of the college president or his/her designee(s).
|Date(s) Revised||November 3, 2009; September 2, 2008; May 11, 2004;||Date(s) Reviewed|