In order to facilitate the contracting process at LIU, the Office of the University Counsel has developed several standard contracts that can be used for your contracting needs. Contracts have been created for use with clinical affiliations, construction projects, purchases of goods and service, performance agreements, professional services and IT software purchases. Use of these standard contracts is strongly encouraged because they protect the University's interests and can be reviewed and approved more quickly than a contract supplied by the vendor.
Whenever using a standard LIU contract, the requisitioning department must obtain the vendors signature, attach a completed and signed Contract Check List Approval Page (CAP) Form F1021, and forward to the Office of University Counsel. This form incorporates all pertinent contract provisions required by the University, and the authorized signature certifies that the contract has been properly reviewed by the department before it is sent for review by University Counsel. This form incorporates all pertinent contract provisions required by the University, and the authorized signature certifies that the contract has been properly reviewed by the department before it is sent for review by University Counsel.
Purchase order Requisition complete with chart field and appropriate approvals
2. Complete contract packet is sent to Legal for the following review:
Legal terms and conditions are acceptable and comply with University policy.
Required Insurance documentation is sufficient and current (both within the contract term and for the Certificate of Insurance, when required).
Contract has been approved by the appropriate departmental supervisor(s).
If LIU template, Contract has been signed by vendor
3. After review, Legal either:
Signs and approves the CAP Form and forwards to VP for Finance and Treasurer for signature, or
Edits contract via red-line changes and returns to initiating department for return to the vendor.
Initiating department coordinates resolution of terms with vendor attorneys. Once completed, process returns to step 3a.
4. Approved contract is forwarded to the VP for Finance and Treasurer, Provost or President for signature. See flow chart for signature authority.
5. VP for Finance signs both copies of contract and forwards it to Campus Financial Services (CFS).
6. CFS reviews contract to verify execution by both parties:
Contracts that are partially executed are returned to the initiating department with a note advising that the vendor must sign both copies of contract and returned to CFS along with an approved purchase requisition before Purchasing can issue an internal purchase order (PO).
Contracts that are fully executed are budget checked either by CFS or forwarded to the Controller's office in the case of capital projects.
7. Upon budget approval, CFS or the Controller's Office forwards the contract packet to PSS.
8. PSS enters the purchase order requisition into PeopleSoft as an internal PO for payment purposes and;
Scans a copy of the contract and requisition to the PO.
Scans competitive bid documents, accompanying forms and justification memo if awarded to other than low bidder.
Sends an original fully executed contract with a cover letter to the vendor. Cover letter includes the contract number (PO number) to be referenced on invoices to assure timely payment.
Sends copy of cover letter and copy of executed contract to the initiating department.
Keeps one original in the Procurement and Sourcing Services.