Staff Portal

Business Office Resources

CONTACT
1525 University Avenue
Knoxville, TN 37921
Main Telephone Line
(865) 974-2115
[email protected]

ANDI HELP
(865) 974-4153
[email protected]

Business

Contracts

The UT Foundation (UTFI) follows many of the same purchasing guidelines as the University of Tennessee. Like UT, all purchases of more than $10,000 must have a contract (see below). Any purchase less than $10,000 that does not require a signed agreement or document by the vendor may be made without going through the contract process. If a vendor requires a document to be signed for any purchase or event, this document should be forwarded to the UTFI Contracts and Purchasing Coordinator for evaluation. Policy 5.7: Contracts

UTFI Contract Process
All purchases of more than $10,000 must have a contract and go through the Contract Management System. The department will need to complete the Non-Compete Justification portion of the ESM process providing a thorough justification to include other vendors considered, why the vendor was chosen, services the vendor provides that are unique, discounts offered, etc.

If a contract must be signed, the department starts the process by entering the contract into the Contracts Management System within ESM. There should be a detailed description of the event, product, or service. All events should include what staff and guests will be in attendance.

In many cases, UT has negotiated rates and secured contracts for larger service needs. UTFI departments are encouraged to use these existing contracts.

Generally, payment for goods and services cannot be made until after goods are received or services provided. Every effort should be made to have deposits or advance payments waived, especially if a contract is being signed. If the deposit or prepayment remain mandatory, the department must complete a memo that outlines the event, the vendor’s requirement, list steps taken to have the requirement waived, vendor contact information, and phone numbers.

If there are any email exchanges, those may also be attached as back-up. Any credit card authorization forms should be forwarded to the UTFI Contracts and Purchasing Coordinator to be filled out and faxed to the vendor.