Lease & License Agreements
Leases for less than one year must be approved by the Assistant Vice Chancellor for Contracts and Compliance.
Licenses that are for less than one year which total cost is less than $1,000 require the signature of the Vice Chancellor for Contracts and Compliance.
The Treasurer of the University is the only individual authorized to sign LEASES over one year AND LICENSE AGREEMENTS over $1,000 on behalf of the University, regardless of the source of funds.
All requisitions for Leases and Licenses must be accompanied by the vendor's agreement.
The University is responsible for accepting the terms and conditions of the contractor.