Contracts Management

Contracts Management completes a comprehensive review of the terms and conditions of contracts to minimize financial, legal, operational and compliance-related risks to the College.

About Contracts Management

All contracts are reviewed, negotiated, and processed in accordance with CNM policy and to ensure that terms and conditions (T&Cs) are in compliance with applicable laws, regulations, policies and procedures.

If a supplier/ vendor, potential or current partner of CNM, or any other party outside of the CNM enterprise requests you to sign a document, it likely qualifies as a legally binding contract. Please refrain from signing it until the Contracts Management team has reviewed the document. Our team is available to provide guidance and assistance with reviewing the document. Submit the document to [email protected] for review and signature.

Please review this page thoroughly before submission to ensure the following, as applicable:

Deliverables are clearly and accurately defined.
All sections that require information are completed.
Freight charges are accurately reflected.
Dollar amounts are correct and consistent.
Applicable taxes are included.
Payment terms are acceptable.

The page complies with all applicable College policies.

Steps

Step 1. Contract Receipt and Allocation

CNM Departments should email contracts to Contracts Management at [email protected]. When corresponding with Contracts Management, all relevant documentation and any identifying information should be included.

The contract will be allocated to a member of the Contracts Management Team to begin the Contract Review process.

Step 2. Contract Review

Contracts Management will complete a brief review of the contractual documents. Depending on the type of contract, Contracts Management will request the use of a pre-approved template. *If CNM’s template is accepted by the other party without edits to any T&Cs, the contract will move forward to Step 4 - Contract Number Assignment. If CNM’s template is edited or an external template is used, the contract will move to Step 3 - Contract Negotiation.

During the contract review process, Contracts Management is responsible for identifying and notifying other internal offices (e.g. Office of General Counsel, Purchasing, Information Technology Services, and/or other offices) that must be involved during the Contract Negotiation process.

Step 3. Contract Negotiation

Once the contract review has been completed, Contracts Management will provide the other party with notice of any T&Cs that are not acceptable. This action marks the start of negotiations, often leading to back-and-forth communication between CNM and the other party until mutually agreeable T&Cs have been negotiated. During this stage, additional internal offices may be involved to provide guidance, verbiage, or other input as needed.

*If CNM’s template is used without edits, the Contract Negotiation stage will be eliminated.

Step 4. Contract Number Assignment

Once contract negotiation has been completed, Contract Management assigns the contract a number that is included in the lower right corner of the document.

Step 5. Contract Execution

In order to finalize the contract, it must be signed by the authorized signatory of each party. One party will sign and then send a partially executed copy to the other party for countersignature. Once all required signatures have been obtained, the contract is considered fully executed.

The Policies and Procedures website includes the Signature Authority and Approval procedure which provides guidelines for signature authority and delegation.

Step 6. Contract Distribution

If the Contract:

Is funded with a purchase order, Contracts Management will send the CNM Department the fully executed and numbered contract and they will submit it with a purchase requisition. Purchasing will send the contract to the Supplier once the purchase order is complete.
Is funded with a procurement card, Contracts Management will send the CNM Department the fully executed and numbered contract and they will submit it to the Supplier once the p-card transaction is processed.
Does not involve funding, Contracts Management and the CNM Department will coordinate and determine who will forward the fully executed and numbered contract to the other party.
Is revenue generating, Contracts Management and the CNM Department will coordinate and determine who will forward the fully executed and numbered contract to the other party and Contracts Management will ensure the CNM Contracts and Grants Department or CNM Bursar receives a copy of the contract.

Step 7. Contract Storage

The fully executed and numbered contract, amendments and contract backup documents will be uploaded to OnBase, CNM’s official records management system, by Contracts Management. The CNM Department may also keep an electronic copy for reference.

Please note that processing times may vary based on the complexity of negotiations.