A contract is required for most services such as hiring a band, lecturer, DJ, comedian, renting a movie, or amusement equipment. A contract is a mutual agreement to reach a goal with benefits for both parties. ALL contracts MUST be signed by an appropriate MIT official. A contract is not required between two MIT entities, although having a formal agreement may be useful.
Students and most MIT employees are not authorized to sign contracts. If you sign a contract, YOU WILL BE HELD PERSONALLY LIABLE.
Students and most staff members are not authorized signatories. If you are a student group, bring any contracts to the Student Activities Office (SAO) (W20-549, 253-6777) or your appropriate RLAD. The staff will review the contract for potential problems and loopholes before having the contract approved by the Sourcing and Procurement Office. The staff is also available to assist groups in negotiating the terms of a contract with outside vendors or agents. Please allow at least two weeks for contract signing. For more information about contracts for student groups go to studentlife.mit.edu/sao.
Departments should have all hotel contracts reviewed and signed by Procurement. For all other contracts, departments should work with Procurement, unless Conference Services has been hired to do the event. For more information about contracts for departments go to http://controllers.mit.edu/site/procurement/policies_procedures.