|Topic:||Financial and Operations|
|Approval Authority:||Board of Governors|
|Approval Date:||Reviewed by UEC: May 4/2005; FSR: May 24/2005. Approved by Board: June 20, 2005; Effective, June 20, 2005|
|Effective Date:||June 20, 2005|
|Last Revised:||June 20, 2005|
Description: Refers to the authority required to execute documents that may be entered into on behalf of the University. Has associated procedure and guidelines.
The purpose of this policy is to specify the signing authorities required for various types of contracts that may be entered into on behalf of the University.
Contract: Includes, but is not limited to, any written agreement, contract, subcontract, letter of intent, memorandum of understanding, memorandum of agreement, lease, deed, transfer, instrument, assignment, obligation, certificate or other document, the provisions of which may be binding upon the University and which relate to the day-to-day operations.
This policy shall apply to all operating, capital, ancillary and research contracts entered into on behalf of York University.
- The powers to execute a contract, document or any instrument in writing shall be in accordance with the By-Laws of York University.
- The Board of Governors hereby delegates its authority as provided in the By-Law to the extent provided to the President of the University and authorizes the President to further delegate her/his authority to designated officers for the purposes of the ordinary course of business of the University.
- The nature, scope and bounds of delegated authority shall be defined in Guidelines and Procedures on Signing Authority, which shall be issued from time to time by the President.
- All persons exercising delegated authority shall use such authority solely as outlined in this Policy and the Signing Authority Guideline.
|Legislative History:||Reviewed by UEC: May 4/2005; FSR: May 24/2005. Approved by Board: June 20, 2005; Effective, June 20, 2005|