Note that this definition does not encompass nonbinding memorandums of agreement and memorandums of understanding that are simply agreements to cooperate. The President has delegated to the Vice-President for Finance and Administration authority to commit UCAR or any of its entities in any contractual matter within certain dollar limits. 3 Authorizations to commit the corporation specify dollar limits and types of contractual instruments that may be signed. 4 Persons who are not UCAR employees may not be granted contractual authority. The delegation of contractual authority may be reviewed and reissued or modified at any time.
Contractual authority is reviewed when an employee changes positions or is reclassified.
The Vice-President for Finance and Administration is responsible for further delegating contractual authority within the limits established by the President. The Office of the Associate Vice-President for Business Services maintains a list of employees with current contractual authority and ensures that such authority is reviewed and reissued as required, but at least annually.