What about Sponsorships or Donations?
If a department wishes to engage outside vendors in a Sponsorship arrangement, whereby the Sponsor gives your department a sum of money, and in exchange your department provides in-kind benefits such as marketing, radio spots, event tickets, table/booth, company banners, etc. , you will need a contract. The UCSB Policy titled "Gift/Grant/Contract/Sponsorship Determination" governs Sponsorships.
- Sponsorship Agreements should be routed through Procurement Services by sending a request to email@example.com
- Procurement will work with the Office of Finance and Administration to review and approve the fair market value of the sponsorship venefits. The Office of Finance and Administration is responsible for valuing the benefits and to determine the value of any quid pro quo benefits.
- Sponsorship agreements must be approved prior to advertisements, promotions, or other activities involving the sponsor entity.
- Sponsorship proposals shall include a description of what the sponsor will provide to the University, and the estimated fair market value of the product or service what the University will provide
- For more on this policy: http://www.policy.ucsb.edu/sites/www.policy.ucsb.edu/files/docs/policies/gifts-grants-contracts-sponsorships.pdf
If an external entity wishes to provide funding to your department without an in-kind benefit, this is likely a gift or donation, and Development or Instituional Advancement should be consulted.
As always, contracts should only be signed by those with Delegation of Authority. Please route your contract request to firstname.lastname@example.org