Contracts

Frequently Asked Questions

How long should I expect the contract review process to take?

  • The amount of time required for contract review varies depending on the nature of the contract, the overall contract workload of the Offices of the General Counsel and Risk Management, and other factors. Contracts should be submitted at least two weeks before the desired feedback date.

Who is permitted to sign College contracts?

  • Employees who have been delegated signatory authority are the only individuals who are permitted to sign contracts on behalf of the College. Signatory authority is automatically delegated to all vice-presidents, who may make further delegations by submitting a Signatory Authority Delegation Form to the Office of the General Counsel.

What is a "College contract"?

  • A "College contract" is one to which the College is a party. College contracts are the only contracts that the Offices of the General Counsel and Risk Management review. For more information about seeking personal contract advice, see our general FAQ.

How do I know when a contract needs to be reviewed for legal and insurance language?

What can I do to expedite the contract review process?

Should I send signed contracts to the Office of the General Counsel for safekeeping?

  • No. The Contract Review and Approval Policy mandates that executed contracts be maintained in the department's files in accordance with the Record Retention Policy. Each department should develop filing protocols in order to ensure that copies of signed contracts can always be located.

What is the difference between an agreement, a contract, and a memorandum of understanding?

  • What's in a name? Agreements, contracts, and memoranda of understanding are synonymous and are all considered legally-binding instruments. If you aren't sure whether a document is a contract, please contact us.