Policies & Procedures for Vendor Contracts

Effective September 1, 2004

During the course of a fiscal year, vendor contracts are entered into or renewed for services by NorthWestArkansasCommunity College’s Purchasing Department. According to state purchasing regulations, the term of a contract may not exceed five years. The Purchasing department adheres to all state purchasing regulations and guidelines in securing contracts on behalf of the college.

Some Contracts come up for renewal, while other contracts are entered into for the one-time performance of a specific service. The Purchasing Department maintains a file on ALL current vendor contracts whether the contract period is for more than one year or for a shorter period of time.

Procedures forsecuring and monitoring Vendor Contracts:

  • All original vendor contracts will be maintained in the Purchasing Department.
  • The Director of Purchasing will maintain a current listing of all active vendor contracts.
  • The Director of Purchasing will monitor the status of the current vendor contract listing for contracts expiring within the next three months and will work with appropriate college departments and vendors to either select a new vendor or renew the term of the current contract.
  • The Director of Purchasing will prepare a monthly report listing all current vendor contracts, the contract period, and the status of the contract. This report will be forwarded to the Vice President of Learning Resources Management. This list shall also include a complete listing of all term contracts and their expiration dates.
  • The Director of Purchasing will prepare a quarterly listing of all vendor annual contracts over $10,000 that will expire during the coming quarter and forward it to the President’s Executive Assistant for submission to the College Cabinet for review. This list shall also include a complete listing of all term contracts and their expiration dates.
  • All contracts requiring signature shall be forwarded to Legal Counsel for review prior to submission for signature. The President’s office shall initiate such contact with legal counsel.
  • A template for a formal contract shall be developed and utilized for all contracts initiated by NorthWestArkansasCommunity College.
  • All Purchase requisitions for securing a vendor contract will require the following approval signature(s)
  1. Less than $2,500 annually, Department Head
  2. $2,500 - $10,000 annually, Department Head and Cabinet Representative, & Vice President for Learning Resources Management.
  3. Above $10,000 annually, Department Head and Cabinet Representative, & Vice President for Learning Resources Management, & College President.
  • Only the College President and the Vice President of Learning Resources Management will have the authority to sign a legal binding contract on behalf of the college.
  1. Contracts up to $50,000 will require one signature – the President or the Vice President of Learning Resources Management.
  2. All contracts over $50,000 will require two signatures – the President and Vice President ofLearning Resources Management.
  • Note Exception to the above procedures: Construction and State contracts.