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Contract Review

Does the contract need to be reviewed by the Budget Office before signing?

Before signing, check list below to see if the contract must first be reviewed by the Budget Office

The Budget Office reviews the following:

  1. All contracts over $15k
  2. All multiyear contracts, regardless of dollar amount
  3. Standard templates that have been amended for legal terms
  4. Complex Contracts (unique risk to college) regardless of dollar amount, including:
    • creates partnership/joint venture
    • could generate significant publicity and /or controversy
    • use of Vassar trademark, name, logo
    • allows third parties to use Vassar property, excluding contracts on pre-approved templates 

Contracts to be reviewed should be sent to Bryan Swarthout at Vassar College Box 2

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Who may sign a contract?

The signature matrix below defines who may sign contracts on behalf of Vassar. Note that no person is authorized to execute contracts outside of these guidelines on behalf of Vassar. Failure to observe this requirement may result in personal liability on the contract or individual responsibility for the representations made.

Dollar Value of Contract (Based on Total Payments on Contract)

The following have authority to sign

Under $15,000

Director

$15,000 to $25,000

Senior Officer

$25,000 or more

Vice President of Finance & Administration

$150,000 or more

Two signatures:
Vice President of Finance & Administration, and Treasurer

$1,000,000 or more

Three Signatures:
Vice President of Finance & Administration, Treasurer, and President

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