What Is A Contract?

The two types of non-research contracts are a Standard Agreement for purchasing goods and services and a Fee for Service Agreement for providing services for a fee. A contract can only be signed by individuals authorized by the Board of Regents Signature Authority Policy.

• The Board of Regents defines a contract as “Any deliberate written or oral engagement between the University and one or more parties, upon legal consideration, to do, or abstain from doing some act.”

• The State of Nebraska defines a contract as having: a) at least two signatures, b) compensating service(s) for a fee of $.01 or more.

• The university generally considers the nature of its contracts to be either:
*an expenditure of funds, through the use of a Standard Agreement.
*revenue generating, through the use of a Fee for Service Agreement.

• Only those authorized by the Board of Regents can sign contracts.
*Department Head or Chair may sign up to $5,000 and for 1 year or less
*Contracts for $5,000 and above should come to Procurement Services for review and signature

Please send contracts to procurementcontracts@unl.edu.