Risk Management-Contract Review
Contracts, especially those prepared and submitted to the university by
outside entities, often contain legal language and stipulations (such as
indemnification statements, coverage limit requirements, and legal jurisdiction
statements) to which the State of Virginia cannot legally agree to. Thus, NO
JMU department is authorized to approve, enter into, or otherwise
execute a contractual obligation or agreement on behalf of the university. Any
contracts or potential contractual agreements must be reviewed, approved and
executed by the proper university (and possible state) official. All contracts
entered into by the university must go through at least one of several possible
channels, depending upon the type of contract or agreement, before they can be
signed and executed.
- Goods and Services– If the contract is for goods or
services provided to the university, the contact must initially be
reviewed and approved by University
Procurement to ensure the agreement abides by all State
If it is determined that a contract for goods or
services does not, for whatever reason, require approval by University Procurement, it must
then be reviewed by the Risk Management office and forwarded for final approval
by the AVP for Finance.
- Real Property/Real Estate – If a university
department wishes to lease real property such as office/lab/classroom
space, warehouse space, storage units, or any other off-campus real
estate, the department must contact the university’s Real Property
Administrator, Jenny Lyons, email@example.com.
The Real Property Administrator will make arrangements for a new lease to
be created by the State Bureau of Real Property Management polices and guidelines.
University departments cannot, according to state law, either
initiate or enter into a contract or lease for Real Property without going
through the state lease procedures.
NOTE: The University’s Real Property
Administrator must handle and initiate all purchases of real estate/real
property for the university as well as real property leases/contracts.
Agreements – If a university department wishes to enter into a
contractual agreement involving a cooperative effort between the
university and another institution, organization or company, the contract
must be first reviewed by the Risk Management office and then forwarded to
the AVP for Finance
for final approval, signature and execution.
- Grants – Grant related contracts are initiated and
reviewed by the Sponsored Programs Office and executed by the AVP for Finance.
For more information regarding contracts, contact Mack Moore, Risk
Management Coordinator at 540.568.7812 or firstname.lastname@example.org.