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Office of the Vice President and Chief Financial Officer

PROCEDURE FOR SUBMITTING BUSINESS CONTRACTS
FOR REVIEW, APPROVAL, AND EXECUTION

  1. Complete and sign the Business Contract Review Form (BCRF)

    • The Review Form must be signed by the individual who is responsible for verifying that the contractor will comply with the terms and conditions of the contract.
    • The Review Form should contain a secondary signature if required by your department’s contract routing procedures.

  2. Develop a contract that contains sufficient information to ensure your department receives the service or deliverable it is anticipating. The use of a Standard Business Agreement Templates and Forms will expedite the review and approval process.

  3. Submit items I and II to the Business Contracts Office with as much lead time as possible. An e-mail confirmation of receipt will be sent to the contact provided on the BCR Form.

    1. Paper - Submit a signed Review Form and two copies of the contract to the Office of the Vice President and Chief Financial Officer, Main Building, Room 102, or Campus Mail G4900; or
    2. Electronic – Submit a signed BCRF and contract to: vpcfo.contracts@austin.utexas.edu
    3. Note: If this is an emergency or you are requesting a RUSH review, please contact our office via telephone with the extenuating circumstances. Efforts will be made to accommodate rush requests on a case by case basis.


  4. If the contract is a Standard Agreement with no substantive changes, it usually will be processed and returned to you within one to two weeks. Using a contract drafted by the contractor or permitting substantive changes to University’s Standard Agreement may require additional processing time. Special Handling Contracts requiring UT System Office of General Counsel and/or UT System Board of Regents’ approval will require additional processing time.

    Note: Services may not begin until the contract is fully executed by both parties.

  5. Once our review is complete, the contract will be signed by an individual in our office who has received Delegated Signature Authority from the president of the University and returned to you for further handling as follows:

    1. negotiating any required revisions with the contractor;
    2. obtaining the contractor’s signature and initials of any required changes on the original contract; or
    3. returning a fully executed contract to the contractor for the contractor's records.

      Note: If the contractor will not agree to the required changes, please contact our office and we will assist you in negotiating the change.

IMPORTANT

Once the contractor has signed the contract and initialed any required revisions, please return one fully executed original contract to the Office of the Vice President and Chief Financial Officer (Main 102, Campus Mail Code G4900). Once we sign an agreement on behalf of the University, we are required to maintain the fully executed agreement pursuant to Regents' Rules and Regulations and Records Retention policies.