Rental, Lease and Maintenance Agreements
University Financial Procedures require that maintenance and rental agreements over $3,000.00 and lease agreements in any amount be purchased by a Purchase Order prepared from a Purchase Requisition. One time rentals less than $3,000.00 for a period of less than three months which will not recur and annual maintenance agreements less than $3,000.00 may be purchased via a Procurement Card (ACARD) or Authorization For Expenditure (AFE).
Rental of space, including storage space, requires the approval of Facilities Management. Please contact the Facilities Management Director.
Colorado State University has established master agreements with certain vendors for commonly purchased maintenance and rental agreements. The master contract is the only contract applicable to purchases of maintenance and rental from these vendors. Individual contracts for each purchase of maintenance and rental are not required.
If Colorado State University's signature is required on a contract, Colorado State University's signature is on the Colorado State University Contract Acceptance form. The vendor agreement is not signed by any University personnel.
Maintenance and rentals less than $3,000.00 (for which no master contract exists) may be purchased via ACARD or AFE provided there is no written agreement requiring the University's signature. Departments ARE NOT authorized to sign vendor generated agreements. Signature authority for service, maintenance and rental agreements has been delegated only to the Director of Purchasing. In addition, the service or maintenance CANNOT exceed a total of $3,000.00 per year. This includes yearly maintenance for equipment such as fax machines, printers, etc.
If the vendor questions why the agreement hasn't been signed or asks that the agreement be signed, it is generally sufficient to say that the University, as an agency of the State of Colorado, does not sign these types of agreements and that the ACARD or AFE is our authorization to provide the service or rental. If, after this explanation, the vendor requires signature, follow the same procedure as for contracts over $3,000.00, i.e. attach the contract acceptance form to the vendor agreement, obtain departmental signature and send to Purchasing for signature by the Director of Purchasing or his designee and the Controller's designee.
For all other rental, lease and maintenance agreements less than $50,000.00 the University signatures required on the contract acceptance form are those of the Dean/Department Head, the Controller's designee and the Director of Purchasing or his designee. For agreements $50,000.00 or more, the University signatures required on the contract acceptance form are those of the Dean /Department Head, the University Controller, the Director of Purchasing and the University Contracts Manager .
Except for maintenance and rental agreements less than $3,000.00, all of these signatures are required as stated. No other contract is to be returned to a vendor without the required signatures and without a Purchase Order prepared from a Purchase Requisition.
