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Why was this contract review/execution process started?

The Contract Execution Process was started in response to recommendations from the legal counsel of IEEE and it’s external auditors in order to protect the Institute from liability issues.

 
 

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Who can actually execute a contract?

Region, Section, and Conference Chairs, Society Presidents and Management Council members can execute contracts less than US$25K. All other contracts must be executed by the Strategic Sourcing Department located at the Piscataway, NJ Operations Center.

 
 

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What is my role as negotiator of contracts in this process? Who is responsible for contract negotiations?

Contracts will still be negotiated in the same manner. Some suggested items to look for while negotiating a contract are posted on this Web site under Contract Review Checklist. The Contract Initiator is responsible for all contract negotiations. Strategic Sourcing will assist if needed.

 
 

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What are the dollar limits involved?

All contracts less than US$25K will be executed as they were, furnishing Strategic Sourcing with an executed copy. All contracts US$25K and over will be subject to the process and executed in Strategic Sourcing located at the Piscataway, NJ Operations Center.

 
 

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How do we determine the value of a contract?

Contract value is defined by multiplying the maximum annual amount of receipts or expenditures by the number of contract years.

 
 

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Should group rates be extended before or after conferences?

Group rates should be extended for one to three days both before and after the conference.

 
 

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What should we expect to pay for function (meeting) room space?

Function/meeting room space should be complimentary if the room block is filled to an agreed upon percentage – usually 85-90%.

 
 

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How many complimentary rooms should I negotiate? Why should New York State always be used as the venue for arbitration?

One complimentary room per 50 rooms booked is the standard; try to negotiate for more than the minimum. New York State is where IEEE is incorporated.

 
 

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What is VAT / GST (tax)?

Value Added Tax/Goods and Services Tax.

 
 

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When do I need to submit a contract for Board of Directors (BoD) approval?

BoD approval is required when a contract's monetary value is US$1.5 Million or more.

 
 

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Do I need insurance information from the vendor?

Vendor information is required when the vendor will be working on IEEE property (reference Web site for insurance information).

 
 

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