Legal and Consulting Services

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					                                                    Stevens Institute of Technology
                                                    Castle Point on Hudson
                                                    Hoboken, NJ 07030
                                                    201.216.5213
                                                    Fax: 201.216-8250

                                                    Office of the President




October 24, 2005

To: All Direct Reports of the President

From: Harold J. Raveche

Subject: Legal and Consulting Services

In an effort to better manage expenses and cash flow and to implement proper internal
controls and risk management practices, the following procedures will be instituted
effective immediately:

   All legal and consulting services must be approved in advance by the CFO. The
    attached form will be utilized to initiate the request and Procurement will enter a
    Purchase Order into FRS subsequent to approval. The Director of Procurement will
    negotiate favorable rates with attorneys in the areas listed below:

              Employment/HR related matters
              Contract review and negotiation
              Intellectual property (trademark, copyright, patent, licenses, etc.)
              General Institute legal matters

Use of attorneys other than those identified by Procurement requires the prior approval of
the CFO. If there is a specific attorney you would like to engage, please refer them to the
Director of Procurement for rate negotiations and vendor acceptance procedures.

A communication will be sent to all attorneys and consultants advising them of the new
policy and that they risk not being paid unless their services are approved in advance and
a P.O. is issued.

   The only people authorized to sign legal and consulting contracts on behalf of
    Stevens are the President and the CFO, and all contract must be signed by both of
    them. This policy will protect the Institute from legal risks associated with
    contractual obligations. It will also alert the finance department to any financial
    commitments that need to be disclosed in our financial statements. Please discuss any
    potential contracts with the CFO prior to reaching any preliminary agreements with
    outside parties.

Please communicate these procedures to your Department Heads and any other staff that
may be responsible for engaging legal and consulting services or negotiating contracts on
behalf of Stevens.

cc: Stefano Falconi
    Mark Samolewicz
           STEVENS INSTITUTE OF TECHNOLOGY

                           FINANCE DIVISION

                     Budget Expenditure Authorization

             Legal                                             Consulting



Date:

Proposed Firm/Vendor: ______________________________________

Address: ___________________________________________________

__________________________________________________________


Name of vendor contact:______________________________________

Reason and time frame for services:_____________________________

__________________________________________________________

__________________________________________________________


Total Professional Fees:    $____________________________

Total Expenses:             $____________________________

Total Budget Commitment: $____________________________



VP or Department Head ____________________________Date______________


Vice-President for
Human Resources         __________________________Date______________


Controller/CFO ___________________________________Date______________


A copy will be returned to the requestor after approval. Please do not retain
legal/consulting services prior to approval.

				
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