Taken from Board Policy 300.1 and UASP 300.1
1. The President and Chief Financial Officer are authorized to execute all contracts on behalf of the Board of Trustees. The authority of other officers and employees is limited to that granted by specific Board policy, University of Arkansas System-wide Policies and Procedures, or a specific delegation of authority issued by the President.
2. The following must be signed by either the President or the Chief Financial Officer:
- A commitment to build or renovate a facility at a cost of more than $2,500,000.
- A commitment to initiate or expand an academic program.
- A commitment to continue expenditures of University funds beyond the term of a contract.
- Athletics related employment contracts for over $100,000 or for a term greater than three years.
- Contracts or other instruments affecting title to real estate, such as deeds, easements, rights of way and most leases of University property. Leases, rental or license contracts executed in the normal course of campus operations, such as leases and rental agreements for University-owned housing and dormitories, may be signed at the campus level if the lease term is two years or less and the cost to the University is $500,000 or less.
- Contracts for sponsored non-human research and corporate sponsorship contracts that exceed five years in duration.
- Powers of attorney authorizing an individual or firm to take specific action on behalf of the University, other than limited powers of attorney for purposes of customs clearance in a form approved by the General Counsel鈥檚 Office or for purposes of prosecuting patent applications on behalf of the University in the United States Patent and Trademark Office.
- Documents in probate proceedings in which the University is a beneficiary.
- Documents to open bank accounts or accounts with investment or brokerage firms.
- A lease of property for use by the University where the lease term exceeds two years or where payments over the lease term would exceed $500,000.
- Any document that is required by applicable law to be signed by the President or Chief Financial Officer.
3. Contracts that may be signed by the Chancellor or unit Chief Executive Officer:
- Any contract, not of the type listed in paragraph 2, entered into in the normal course of campus operations, if the contract has been reviewed by the General Counsel鈥檚 office or if the contract is on the current version of an unmodified standard form approved by the Office of the General Counsel.
- A lease of property for use by the University where the term of the lease is two years or less and the payments over the term of the lease will not exceed $500,000.
- Sponsored non-human research programs and corporate sponsorship contracts that do not exceed $2,500,000 or five years in duration.
- Sponsored human subject research contracts that do not exceed $2,500,000. This authority is not limited by the duration of the contract.
4. Contracts that may be signed by the Vice Chancellor for Finance and Administration:
- Any contract, not of the type listed in paragraphs 2 or 3(b)-(d), entered into in the normal course of campus operations, if the contract has been reviewed by the Office of the General Counsel or if the contract is on an unmodified standard form approved by the General Counsel, subject to the following limitations:
- The VCFA may not execute a commitment or contract to expend more than $1,000,000 to build or renovate a facility.
- The VCFA may not execute a contract the amount of which exceeds $250,000, or where connected transactions exceed $250,000 in the aggregate.
- The VCFA may not execute methods of finance for projects in excess of $1,000,000.
- The VCFA may not execute contracts for sponsored research or corporate sponsorships exceeding $1,000,000.
5. Contracts that may be signed by employees other than the Chancellor, Chief Executive Officer or Vice Chancellor for Finance and Administration.
- Authority to sign specific contracts or types of contracts may be sub-delegated by the Chancellor or Chief Executive Officer to other employees, but only on written approval of the President. The Chancellor or Chief Executive Officer is required to maintain a record of each approved request for sub-delegation authority.
- The campus or unit Agency Purchasing Official may sign standard purchase order or similar contracts for routine purchase of commodities or services regularly required for use in the day-to-day operation and maintenance of a campus if the purchase is made using the current version of an unmodified contract form or terms and conditions approved by the Office of General Counsel.
- This authority is limited to $250,000 per transaction, or $250,000 in the aggregate when involving connected transactions.
- This authority does not include the authority to execute services contracts requiring legislative review.
 If the President and Chief Financial Officer are absent or unavailable, contracting authority may be exercised by the General Counsel, Vice President for University Relations or Vice President for Academic Affairs.
 The President may separately delegate authority to sign offer letters expressly stating that they are subject to approval of the Board of Trustees and other contingencies recommended by the Office of General Counsel.