I. General Policy

To appropriately steward resources and protect Rice against financial, legal, and other risks, the Chair of the Board of Trustees has delegated authority to the President to execute all contracts on behalf of Rice. In turn, the President routinely delegates this authority to others so that Rice’s financial functions will be performed with excellence, clarity, and efficiency.

This policy explains who may approve financial commitments and sign contracts that bind Rice. A contract is not formed with Rice until it is executed by a person with Rice’s authority. Employees and other members of the Rice community who knowingly execute a contract without authority are subject to disciplinary action.

II. Roles and Responsibilities

Officials: The university officials listed in Section IV. H may delegate their authority to other Rice employees. They also ensure that contracts and financial commitments receive necessary reviews and approvals, and that their delegates are trained to understand their authority.

Budget and Finance: This department trains individuals who are granted or delegated authority under this policy.

III. Definitions

Contract: An agreement between Rice and one or more parties that creates obligations that are enforceable or recognizable by law. Contracts include, but are not limited to, written job orders, purchase orders, change orders, proposals, letter agreements, scopes of work and memoranda of understanding. Contracts also include all renewals, amendments, extensions, and terminations of existing agreements.

Delegation: A written transfer of a person’s monetary authority and/or subject area authority to another person.

Financial commitment: A decision to allocate funds or resources to a specific supplier, endeavor, or agreement. Financial commitments include, but are not limited to, competitive awards, single-source justifications, contract term elections (amendments, extensions, renewals, or terminations), and other obligations.

Monetary authority: Authority to approve Rice’s expenditure of funds and a financial commitment, and to execute contracts that bind Rice.

Subject area authority: Authority to confirm that a proposed contract reflects Rice’s intentions and serves legitimate university objectives.

IV. Elaboration of Policy

A. General Authority and Delegations

1. By delegation from the Board of Trustees and Chair of the Board, monetary authority for most contracts rests with the President. Certain authority also rests with the Treasurer.
2. In this policy, the President delegates much of that authority to other Rice employees, including the executive vice presidents, vice presidents, and others.
3. After receiving a delegation, a person may further delegate some or all their authority, but only to other Rice employees whom they directly supervise.
4. No person may delegate authority not delegated to them.

B. Form and Recording of Delegations

1. Every delegation under this policy must be issued on a form approved by the Office of General Counsel. The approved form is available here.
2. A completed delegation is effective only after (a) it is sent to the delegate by email, (b) it is sent to the Secretary of the Corporation by email to secretary@rice.edu, and (c) the delegate receives the training required by Section IV.G.
3. The completed form sent to the Secretary shall be Rice’s official record of the delegation.

C. Required Reviews

1. Procurement: All financial commitments to procure goods, services or technologies must abide by Policy 814, which requires competitive bidding in some situations.
2. Legal: The Office of General Counsel must review the following contracts before they are executed. For these contracts, a review must be requested by sending an intake through CounselLink here.

a) A contract whose financial commitment or value exceeds $100,000 over the term (including any reasonably anticipated term renewals) of the agreement, by itself or together with related contracts;

b) A contract that grants rights or makes commitments lasting longer than three years;

c) A contract that indemnifies a non-Rice party against claims, or limits its liability;

d) A contract that establishes a state other than Texas as the forum for resolving disputes;

e) A contract that requires confidentiality or non-disclosure by Rice; or

f) A contract for information technology-related hardware, software, or services.

3. No Review

If a contract does not require legal review under Section IV.C.2, a person with monetary authority may execute it after receiving subject area authority from the official named in Section IV.H.1.

D. Form of Contracts

1. Rice Templates: Rice offers pre-approved templates for several types of contracts. They are located here. If a template is appropriate for a situation, then legal review is not required, and a person with monetary authority may execute the contract after receiving subject area authority from the official in Section IV.H.1.
2. Other Forms: In some situations, Rice negotiates contracts with parties who prefer to use their own contract forms; in others, Rice prepares a contract itself. In both cases, the requirement for legal reviews and other reviews is governed by Section IV.C.

E. Retention of Contracts

1. Time: The Rice office that executes a contract must retain an electronic, executed copy of it for (a) the period of the contract plus 4 years or (b) the period required by law for the contract, whichever is longer.
2. Copy to Office of General Counsel: If a contract underwent legal review, the Rice office that executes it must also send an electronic, executed copy to the Office of General Counsel. The copy should be sent through Rice’s contract intake system here.

F. Limitations

1. Any contract whose financial commitment and related financial exposure exceeds $2.5 million must be signed by the President, unless it involves a matter reserved or assigned by the Board of Trustees.
2. A person may not approve their own reimbursement without prior approval from the Executive Vice President for Operations, Finance, & Support.
3. A person may not sign or approve a personnel action form or their own salary or total compensation.
4. Any authority granted or delegations issued under this policy may be modified or revoked by the authorizing person at any time.
5. The Board of Trustees, its Chair, or the President may also modify or revoke any authorities granted and delegations issued under this policy at any time.

G. Training

The Budget and Finance organization provides training for all persons with subject area authority and/or monetary authority. Delegates must complete this training before their authority becomes effective.

H. Authority and Delegations

The following authorities are granted, and delegations issued, by this policy. A list of officials with delegated authority can be found here.

1. Subject Area Authority: Regardless of monetary value, transactions in certain subject areas must be approved by these officials (or their delegates):

Subject	Official
Affiliation Agreements/MOUs	Relevant executive vice president, vice president, or dean
Athletics coach employment	President (after recommendation by Vice President and Director of Athletics)
Branding/marketing Contracts involving a third-party’s use of Rice’s name or logo for publicity, advertising, or commercial purposes Photography, filming, or drone usage	Vice President of Public Affairs
Construction projects and facilities Capital projects Rental or use of university facilities by non-university organizations or individuals Real estate leases/property External event rental space Building specific agreements Equipment/material purchases and contracting related to building maintenance Landscaping Custodial	Vice President of Facilities and Capital Construction, and President of Rice Real Estate Company
Employment of a disqualified person	Approval by Compensation and Organizational Development (CORD) Committee of the Board of Trustees; signature by President, Provost and Executive Vice President for Academic Affairs, or appropriate vice president.
Faculty appointment letter and employment agreement	Provost and Executive Vice President for Academic Affairs
Global/International	Vice President for Global
Goods and services Subscriptions Non-enterprise level (excluding IT-related goods and services) Equipment leases Transportation Public art/installations Other professional services	Relevant executive vice president, vice president, or dean
Insurance	Senior Associate Vice President, Chief Financial Officer, and Treasurer
Investments and financial agreements Bank accounts Estates and trusts Debt Issuances	Chief Investment Officer and President, Rice Management Company OR Senior Associate Vice President, Chief Financial Officer, and Treasurer
Legal services	Vice President and General Counsel
Licenses for intellectual property Licenses and option agreements for the university’s intellectual property	Executive Vice President for Research
Research Contracts for research or external support for research	Executive Vice President for Research
Staff employment for a definite term	Associate Vice President for Human Resources
Students and student organizations (excluding contracts for external event rental spaces)	Students and student organizations may not enter into any contract on behalf of Rice. Dean of Undergraduates OR Dean of Graduate and Postdoctoral Studies

2. Monetary Authority: For all transactions, the following officials and delegates have specific monetary authority. These amounts apply whether Rice receives or provides payment, and include the financial commitment and total financial exposure.

Level	Official	Delegate
Contracts exceeding $5 million	Board of Trustees	President
Contracts totaling between $2.5 million and up to $5 million	President	None
Contracts totaling up to $2.5 million	President	Provost and Executive Vice President for Academic Affairs Executive Vice President for Operations, Finance, & Support Executive Vice President for Research
Contracts totaling up to $750,000	Executive Vice President for Operations, Finance, & Support	Senior Associate Vice President, Chief Financial Officer, and Treasurer
Contracts totaling up to $500,000	President	Vice President for Development and Alumni Relations Vice President and Director of Athletics Vice President and General Counsel Vice President for Innovation and Chief Innovation Officer Chief Investment Officer and President, Rice Management Company Vice President for Public Affairs
Contracts totaling up to $500,000	Executive Vice President for Operations, Finance, & Support	Vice President for Information Technology Vice President of Facilities and Capital Construction, and President of Rice Real Estate Company
Contracts totaling up to $250,000	Provost and Executive Vice President for Academic Affairs	Vice President for Global Vice President for Enrollment Vice Provost for Academic Affairs Vice Provost for Access and Institutional Excellence Vice Provost and University Librarian All deans Institute/Center director

V. Cross References to Related Policies

Policy 812, Record Retention

Policy 814, Procurement

Policy 838, Conflict of Interest

VI. Responsible Official and Key Offices to Contact Regarding the Policy and its Implementation

Responsible Official: Executive Vice President for Operations, Finance, & Support

Other Key Offices: Budget & Finance, General Counsel, Human Resources, Information Technology, Risk Management, and Strategic Sourcing and Procurement.

Policy History

Revised

September 2, 2025; May 10, 2017; September 12, 2014; November 16, 2001

Clerical Changes

January 18, 2023; February 1, 2023; August 15, 2023; March 4, 2024