Issue/Question
Choosing the correct contract to use and following the correct policy and procedure.
Resolution
- If any contract is $4,000 or more and 60 days or more in duration it needs to go into Contracts+. You will need to fill out this form. The form will go to the Business Office email and a contract will be created in Contracts+. Be sure to include on the form, the emails of everyone that will be signing the contract or that needs a copy of the contract when it is complete. Once the contract is complete, all signers and anyone listed as a CC will receive a copy of the contract. Contracts+ has it's own numbering system and that is how the contract will be referred to when making payments on it.
- If your contract will be with a current Regental employee or full time state employee, you will need to do a shared employee agreement.
- If the contract is a one time event and it is less than $4,000, you will do a Performance Contract.
- If the contract is a consulting contract and it is less than $4000, you will do the Consulting Contract.
Help in deciding which contract to use. A "Performance Contract" focuses on achieving specific, measurable outcomes and tying payment directly to the successful completion of those goals, while a "Consulting Contract" primarily involves providing expert advice and recommendations, with payment often based on time spent or deliverables like reports, rather than directly tied to achieving specific results for the client; essentially, a Performance Contract emphasizes results, whereas a consulting contract emphasizes expertise and analysis.
It is important to remember that ALL Contracts need to be reviewed and signed by VP for Finance and Administration, Kathy Johnson.
BHSU Contract Policy - 5:5 Consulting Contracts, 5:6 Contract, Agreement, and Memorandum of Understanding Review and Approval