If it is suspected
that a project may result in a contract, Buyers and those involved in
the contract review must be aware of the following process:
§Make sure that all
procurement rules and regulations have been or will be met.
§The appropriate contract
classification must be initiated as per the general contract checklist
applicable to all contracts.
§The form of payment must
be established and finalized at the procurement stage.
§A standard UT System
contract template should always be selected whenever possible.
Reference the following web-site
http://www.utsystem.edu/ogc/contract/standard.htm The sample
contract should be included during the solicitation phase.
§If on the other hand, a
vendor respond to a solicitation with a contract or terms & conditions
then please contact the contract coordinator for advise on the contract
processing method to follow.
2.Timing.
Make sure that the
time lines are clear to the end user(s) and all individuals involved:
a)Minor contracts
Minimum 5-7 day contract review for
minor contracts (approx. 1-5 pages) or standard contracts
b)Negotiation time
If there is need for negotiation with
the vendor for terms and conditions the time is unknown, (depending on
their contracts office processing time) but at least one month is a rule
of thumb.
c)Finalization of contract
Normally is 4-7 working days, this includes
routing original copies for signatures and copies distribution.
3.
Additional Notes:
Projects resulting
in a formalized executed contract do not require the issuance of a PO,
except to ensure payment. The purchase order number will be referenced
on all payments.
All amendments to
contracts that involve a change in payment should be tracked for
financial information.
