The purpose of this policy is to specify the signing authorities required for Contracts entered into on behalf of the University
The objective of this policy is to ensure that only those individuals with appropriate approval and accountability sign contracts on behalf of Ryerson University.
This policy applies to all Contracts to which the University is a party or that create an obligation on the University. It applies to all faculty and staff. Contracts must be entered into only by employees of the University.
"Contract" means any written agreement, contract (including any renewal, extension or amendment of an existing contract), subcontract, letter of intent, memorandum of understanding, memorandum of agreement, legal actions, memorandum of settlement, minutes of settlement, academic agreement, employment contract, gift agreement, lease, license, purchase requisition/order, deed, transfer, instrument, assignment, obligation, certificate or other document, the provisions of which may be binding upon the University.
“Research Contract” means a Contract for services or products to be provided by Ryerson faculty, staff or students in regard to research contracted or sponsored through external funding sources.
“Student Placement Agreement” means a Contract with an organization outside the University to provide students with discipline-related work experience as a partial component of an academic program.
1. You may only sign a Contract on behalf of Ryerson University if you have explicit authority to do so in this policy, or if that authority has been properly delegated to you by the appropriate member of the Executive Group.
2. Authority to sign a Contract is dependent on its total value. See Schedule A for signing officers by value and type of Contract.
3. Prior to presenting a Contract for signature by the appropriate signing officer(s), the following requirements must be met:
a. The Financial Services Department must review the insurance terms of the Contract.
b. An assessment of the risks to which the University may be exposed to by entering into the Contract must be prepared.
c. The business terms of the Contract must be reviewed and approved in advance by the appropriate member of the Executive Group.
d. The Contract must be reviewed by the Office of the General Counsel and Board Secretariat
4. The term of the Contract, including renewals and extensions, should be less than five (5) years in total, unless discussed with the Office of the General Counsel and Board Secretariat.
5. Signature stamps or pre-signed blank forms are not accepted as original signatures on Contracts.
This policy is under the jurisdiction of the General Counsel and Board Secretariat. Interpretation and administration is the responsibility of the General Counsel.
This policy is subject to review every three (3) years.
1. If the Contract has a value of less than $100,000 in the aggregate then it must be signed by one of the following:
2. If the Contract has a value of $100,000 in the aggregate but less than $1,000,000 in the aggregate then it must be signed by one of the following:
3. If the Contract has a value of $1,000,000 in the aggregate but less than $5,000,000 or it has a value of any amount but is deemed to be significant to the reputation of the University, then it must be signed by any two of the following:
4. If the Contract is a collective agreement or has a value of $5,000,000 or more in the aggregate, then it must be approved in advance by the Board of Governors and must be signed by any two of the following:
5. If the Contract relates to legal actions (for example: minutes of settlement or memorandum of settlement) then it must be signed by the General Counsel and Secretary of the Board of Governors in addition to the signing authorities set out above.
1. If the Research Contract has a value of less than $1,000,000 in the aggregate then it must be signed by any one of the following:
2. If the Research Contract has a value of $1,000,000 or more in the aggregate then it must be signed by any two of the following:
1. Student Placement Agreements for placements in Canada must be signed by the Provost and Vice President Academic and General Counsel and Secretary of the Board of Governors.
2. Student Placement Agreements for placements outside of Canada must be signed by the Provost and Vice President Academic and Vice President Research and Innovation.