Corporate Finance Director Contract

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Corporate Finance Director Contract Powered By Docstoc

Standard contracts from a Commonwealth or State Government Department
 If you have received a standard form legal contract from a Commonwealth or State Government
 Department for signature AND

 The contract is for Swinburne to deliver standard services (such as training, consultancy or research) AND

 Delivering the services does not involve a high level of risk (such as risk of physical injury to any party or
 of a system or product failure in any ongoing business) AND

 You have read the contract and are satisfied that Swinburne can meet all obligations and you do not want
 any changes,

 THEN you should complete the following check list. If you answer YES to ALL points in the check list
 then Swinburne Legal and Finance do not need to approve the document. The completed check
 list MUST be attached to a completed Document Execution Form which goes to the authorised
 Swinburne signatory with the contract for signature.

If you have any queries about this check list, contact Swinburne Legal on 9214 8221.

 CHECK LIST                                                                                        YES       NO
 1. Swinburne name and details are correct eg: Swinburne University of
    Technology (through the [appropriate Faculty/Centre/School]) of John Street,
    Hawthorn, Victoria, 3122
    (ABN 13 628 586 699)
 2. Swinburne is the only party (other than the Cth./State dept.) signing the
 3. The annual amount payable under the contract is $110,000 inclusive of GST or
 4. It is clear how and when the payment/s will be made to Swinburne and
    whether or not GST is included
 5. The total term of the contract is 3 years or less
 6. Swinburne retains ownership of its existing / background Intellectual Property
    and only transfers ownership of IP for which it will receive reasonable payment
 7. If IP ownership is transferred to the government department or the Cth./State,
    this will not restrict the activities of you or others within Swinburne in the future
    [*see note 1]
 8. Swinburne only provides an indemnity for loss arising from an act or omission
    involving fault or negligence or a breach of the contract by Swinburne (and
    there is no potential liability for indirect or consequential loss) [*see note 2]
 9. You have checked that Swinburne has the required level of Insurance cover
 10. The Termination clause provides Swinburne with sufficient protection if the
     Cth./State dept. terminates early [*see note 3]
 11. The contract does not contain a requirement that Swinburne open a separate
     bank account for any money provided
 12. The contract does not contain a requirement that Swinburne engage or pay for
     an external auditor.

 CHECK LIST                                                                                      YES     NO
 13. The contract does not contain any provision that could require Swinburne to
     pay liquidated or exemplary damages [*see note 4]
 14. If Swinburne needs to sub-contract out any part of the services, the contract
     allows this
 15. The Swinburne Faculty/Centre/School entering the contract is able to meet all
     the obligations contained in the contract [*see note 5]
 16. All Schedules to the contract have been properly completed and details
     contained within them do not conflict with any terms of the contract
 17. The pricing under the contract has been set using Finance’s costing template
     ( and any in-
     kind commitments can be met within the Swinburne Faculty/Centre/School’s

I confirm that I have thoroughly checked the contract outlined on the attached Document
Execution Form and that I have answered YES to all the points listed in the above check

Signature                                                         Date

Print name

Title [Only Officers of the DVC (TAFE), Faculty Managers, TAFE School Executive
       Directors, Officers of the DVC (Academic), Director Swinburne Research, Manager
       (Business Performance And Improvement) [Student and Corporate Services] Director
       (Internal Partnerships And Quality) [International & Development] and Director
       Finance are authorised to use & sign this checklist]


1.   IP ownership - If ownership in material produced under the contract is transferred to the
     government, Swinburne will not be able to use the material itself in the future. Also potentially
     the government could give the material to another party and ask them to deliver services
     using the material in the future.
2.   Indemnity -if you are unsure about the meaning of any indemnity or liability clause, speak to
     a lawyer in Swinburne Legal.
3.   Termination -Many government contracts allow the government to terminate the contract at
     any time for no reason. If Swinburne commits resources to the project (such as employing
     staff) and the government then terminates, your area could potentially be left with on-going
     costs which it cannot fund.
4.   Liquidated damages - This is a penalty generally applied for underperformance. Swinburne
     does not enter contracts which provide for liquidated or exemplary damages. If these are
     noted (for example in the Schedule) then you should make sure they are listed as NIL or NOT


5.   Obligations - Government contracts often contain very detailed and specific provisions which
     may appear onerous (such as complex reporting requirements). You must ensure you have
     committed sufficient resources to allow Swinburne to fully comply with all obligations.


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