The University of Tennessee, Knoxville

College of Business Adminstration at the University of Tennessee Dreamweaver Templates. College of Business Administration at the University of Tennessee


Contracts

A contract is any agreement between the University and another party that creates an obligation, right, or liability.  Income, expense, or zero dollar activities may require a contract.  This includes agreements for services (personal, professional, or consultant), catering, hotel room blocks, tradeshow booth rentals, conference room rental at hotels, international travel groups, software purchases, etc.

Any agreement (regardless of the amount or title of the document) that requires a signature for terms, conditions, rules, or liability should be sent to FIO for processing. 

NO INDIVIDUAL IN THE COLLEGE HAS AUTHORITY TO SIGN A CONTRACT ON BEHALF OF UTK.

All agreements should be submitted to Jennifer Hicks in FIO when they are first received and allow sufficient time for the review process.  This can be done weeks or even months before the start date.

FIO will review the agreement, prepare the appropriate documentation, and submit to the campus contracts office for legal review and vice chancellor signature.

Purchase of any good(s) or service(s) equal to or over $10,000 requires a contract or purchase order, and must be acquired through the university competitive bid process or approved by purchasing through non-competitive justiciation.  Additional lead time is required to process either the bid or the non-compete justification.

The same procedure for processing contract invoices should be followed as for regular invoices except the contract number should be referenced on the invoice and GL Account 437500 should be used.

More in depth details regarding contracts can be found on the UT Fiscal Policy website.

Please contact Jennifer Hicks at jhicks4@utk.edu or (865) 974-6735 for more information about Haslam College of Business contracts.


Financial Information Office ~ 453 Haslam Business Building ~ Knoxville, TN ~ 37996 - 4140
Phone: (865) 974-1770 ~ Fax: (865) 974-3663 ~ (865) 974-4237

 

The University of Tennessee, Knoxville. Big Orange. Big Ideas.

Knoxville, Tennessee 37996 | 865-974-1000
The flagship campus of the University of Tennessee System