Overview of Contract Review Process
*Note: Please review University Contract Fiscal Policy
IRIS training classes are available for Non-Competitive Justifications and Contract Management. Sign up for any of the IRIS training classes by visiting this website: http://uthr.admin.utk.edu/TandD/Iris_Classes.shtml
Key Bullet points:
- Contracts can only be signed by authorized officials of the University.
- Getting the Contract Review and Approval Form and the contract to your campus or unit contract or business office is the key to processing contracts correctly.
Step 1: First, departments must read the entire contract to ensure that all business matters (dates, price, etc.) are correct. Then, departments must enter the contract or contract amendment into IRIS to create the Contract Review and Approval Form. Once completed, the Contract Review and Approval Form should be printed and placed on top of the hard copy of the contract.
Note: If the good and/or service will cost $10,000.00 or more, and is not being purchased off a bid, then the department must complete a Non-Competitive Justification in IRIS.
Step 2: Department obtains the necessary approvals on the Contract Review and Approval Form.
Step 3: Department sends the hard copy of the Contract Review and Approval Form and the hard copy of the contract to the appropriate campus or unit contract or business office for review.
Step 4: The campus or unit contract or business office will handle the contract. Per fiscal policy, delegated contracts are processed differently that non-delegated contracts. Ultimately, all contracts will be signed by an authorized official of the University. A list of the University’s authorized officials is listed here: http://treasurer.tennessee.edu/contracts/contractsignature.html