Contracts are defined as:
a legally binding promise, enforceable by law.
an agreement between parties, with binding legal and moral force, usually exchanging goods or services for money or other consideration.
all types of agreements, regardless of what they may be called, for the procurement or disposal of supplies, services, or construction.
an agreement between a contracting authority and a person or business unit to provide a good, perform a service, construct a work, or to lease real property for appropriate consideration.
The authority to execute University contracts is vested in the President of Southeastern; however, the President has delegated to the Provost/Vice Presidents of each division a limited authority to execute University contracts for personal, professional, consulting and social service contracts up to $20,000. The Administration has delegated limited authority to faculty and staff to execute qualified personal, professional, consulting and social service contracts up to $2,000.
The Director of Purchasing has authority to sign all purchase orders and non-contract agreements on behalf of the University and the Director of Purchasing has delegated limited authority to Procurement Specialists to sign requisitions and purchase orders up to $25,000.
No employee is authorized to sign contracts or agreements involving the expenditure of funds, regardless of source, or other types of contracts or agreements on behalf of the University not previously outlined. Any contract or agreement involving the expenditure of funds or the expenditure of university resources that require a signature on behalf of the University must be forwarded to the Director of Purchasing for review and receive a subsequent recommendation to request the President or Provost/Vice Presidents to sign the contract or agreement.