Services to be performed are clearly set forth. Amount to be paid is clearly set forth. Time period in which Performing Agency will send invoice, statement, or billing to Receiving Agency. For example, by the 15th day of the month for services rendered during the preceding month. Time period in which Performing Agency will receive payment from agency.
Term reflects a definite start date and end date.
Note that anything over four years requires approval by the Board of Regents. See Signature Authority and Signature Block for the appropriate signature authority and signature blocks.