What is a Contract.

A contract is an exchange of promises that the law will enforce.  To create a legally enforceable contract, a promise must be given in exchange for consideration.  Consideration is a promise to give something of value, such a a monetary payment, goods, or services.

Indemnification and Hold Harmless language is a risk management tool.  Each contract should address who is responsible for third-party injuries arising out of the activites of the contract.  This is done generally by including a paragraph in the contract that addresses what each party is accepting through indemnification and hold harmless language.  For Example:

Each party to the agreement will remain responsible for losses caused by its own negligence.  Neither party transfers risk to the other, but rather each remain responsible for its own actions or omissions in the same way that each would if the agreement did not exist.

Training.  Contact the Insurance Office if you would like information on two free contracting webinars--each discuss in layman's terms the basics of contracts. 

Policy and Processes.

Contract and Legal Services Authority Policy
Contract Process
Contract Checklist

Templates: word format

Contract Simple Template
Memorandum of Understanding Template
Independent Contractor
International Partnership Memorandum of Understanding Template
Service Learning Contract Template
Contract Services less than $25,000 Template
<$25,000 Terms and Conditions Cover Page


Additional Templates and Contract Resources

Preferred and Contracted Vendors List

Certificate of Insurance Request Forms: (NOTE: A Certificate of Insurance Request form needs to be attached to the initial contract.  The other party needs to provide a copy of their Certificate of Insurance with their signed the contract.)

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University News
October 18, 2017
The Drake University College of Pharmacy and Health Sciences announced Nathan Newman as director of the new athletic training master’s program at Drake University.