How to Sign Contracts and Signing Policy

Signing contracts and policies at Laurentian University typically involves several steps to ensure that all legal, financial, and operational aspects are properly addressed. Here's a detailed overview of the process:

Preparation of Contract/Policy

• Drafting: The contract or policy is usually drafted by the relevant department, such as Procurement, Legal Services, or the specific department responsible for the contract or policy.
   
• Review: The draft is reviewed internally to ensure it meets the university's requirements, aligns with legal standards, and complies with university policies. Departments like Legal Services and Finance may be involved in this review.

Internal Approval Process

• Departmental Approval: The draft contract or policy must first be approved by the head of the originating department. This might involve discussions and revisions to address any concerns.
   
• Legal Review: The Legal Services department reviews the contract or policy to ensure compliance with laws, regulations, and university policies. They may suggest changes to mitigate any legal risks.
   
• Financial Review: If the contract involves financial commitments, it must be reviewed by the Finance department to ensure budgetary alignment and financial feasibility.
   
• Risk Management: If the contract or policy involves significant risk, it might be reviewed by the Risk Management office to assess and address potential risks.

Governance Approval (if required)

• Board of Governors Approval: Some contracts or policies, especially those involving substantial financial commitments or strategic importance, may require approval from the Board of Governors. This is typically done through a formal meeting where the contract or policy is presented, discussed, and voted on.

Signing Authority

• Determination of Signing Authority: The university’s policies outline who has the authority to sign contracts on behalf of the university. This depends on the nature and value of the contract. For example:
  • President and Vice-Chancellor: May sign contracts that involve major financial or strategic commitments.
  • Vice Presidents: May sign contracts related to their areas of responsibility.
  • Director-Level Authority: Certain directors may have signing authority for contracts within their department’s scope and budget.
     
• Signature: The authorized individual signs the contract or policy. For legal and formal documents, an ink signature or an approved electronic signature (e.g., via Adobe Acrobat Sign) is used.

Counterpart Signature (if applicable)​​​​​​​

• External Party Signature: If the contract involves an external party (e.g., a vendor, partner organization), it must also be signed by an authorized representative of that party.
   
• Execution: The contract is considered fully executed once both parties have signed it. Copies of the signed contract are distributed to all relevant stakeholders.

Archiving and Record-Keeping

• Documentation: Once signed, the contract or policy is archived in the university's record-keeping system. This ensures that there is a formal record of the agreement, which can be accessed for reference or audit purposes.
   
• Compliance Monitoring: The relevant department is responsible for monitoring compliance with the terms of the contract or policy, ensuring that all parties fulfill their obligations.

Implementation and Follow-Up

• Implementation: The terms of the contract or policy are put into effect. This may involve coordinating with various university departments, external vendors, or other stakeholders.
   
• Review and Renewal: Contracts and policies are periodically reviewed to ensure they remain relevant and effective. Renewal or amendment processes follow a similar procedure to the initial signing process.

This is a general guide to the contract and policy signing process at Laurentian University. Specific processes might vary depending on the type of contract or policy, the amount involved, and other factors.