Common Contracts
1 similar Types of Agreements contracts
Types of AgreementsTypes of Agreements • August 23rd, 2012
A “contract” is a legally binding agreement between two or more parties obligating parties to do or not to do a particular thing. A contract may be verbal or written, formal or informal, general or detailed. A contract can also be labeled under various names (agreement, contract, purchase order, terms and conditions, letter of intent, authorization to proceed, award, grant etc.). If the university is obligated in any way to perform a service or receive a service a contract should be negotiated by the appropriate university office. The only parties allowed to enter into a contract on behalf of the university are individuals that have been given signature authority by the Board of Trustees. The Office for Sponsored Programs negotiates contracts/agreements for research projects in conjunction with the Office of Counsel, the Office for Compliance and the Office for Technology Transfer. For more information contact Lauren Wilson, J.D. at (205)348-7812 or lawilson@fa.ua.edu.
