Every year Baylor University, through faculty, staff and students enters into an untold number of contracts that focus on a wide array of activities, including outside services, and supplies, facilities use, construction, copyright, and research. Each of these contracts have the potential to result in unexpected financial harm to Baylor if faculty and staff involved in the contract negotiation process are not informed about appropriate management of contracts and Baylor's contracting policies and procedures. This webpage is intended to help Baylor avoid problems stemming from poor contract negotiation by helping non-legal faculty and staff to gain an understanding of contracting policies and procedures.
The following is a brief list of examples of weak contracting practices that have the potential to result in financial loss to any party to a contract.
Please see the Contract Administration page for information regarding Baylor's contracting policy.