Transaction Authority Policy
The University has adopted a Transaction Authority Policy, which explains who has authority to bind the University to agreements or commitments with outside parties. Under the University’s bylaws, the President is authorized to transact business on behalf of the University with outside parties either personally or by delegating that authority to others. Through the Board of Trustees and the President, the University’s academic and administrative officers (as designated by the bylaws) have been delegated specific areas of responsibility and duties, including the authority to transact business. The officers may further delegate their authority, as necessary or desired, consistent with University policy. Therefore, it follows that University employees, including officers, faculty and staff, may bind the University only if they have been delegated specific authorization to do so. Students do not have authority to bind the University.
Further information regarding the interplay between the Transaction Authority Policy and contracting can be found on the Contract FAQs page. Additional resources can be found on the Transaction Authority Project website.