Under Regents Policy, all University contracts must be on University standard contracts or on forms approved by the OGC. See the "Contracts" section of the OGC Website for more details. If the price of the purchase is $50,000 or more, you must consult the Purchasing Services Department. The best way to purchase goods or services is to use the University's standard PO. That will avoid a lengthy period of negotiation. Vendors often ask us to sign their standard contract, or to change our standard form. If the price is greater than $10,000, the OGC must review the Vendor's form or changes to our form. If the price is under $10,000, and the Vendor insists on using its form or amending the University's form, you must use the Addendum for Small Purchases which the OGC will send to you. Included within Purchasing's policies are guidelines to help ensure that the University is paying a reasonable price, etc. In addition, Purchasing often enters into University-wide contracts with vendors for all campus purchases of equipment and/or services, in which case your department may not need a new contract. Be sure the final contract is signed by a person who has been expressly delegated authority to sign it. See the Delegations Library. Note that, depending on the dollar amount of the purchase, different levels of authority must approve the purchase.