Board Orientation Manual 2024

provides proper protection against possible claims or losses. The format of the agreement may range from a formal contract to a letter agreement for simpler, lower cost contracts. In addition to required procedural and legal protective clauses, the contract must, as a minimum, show the following information:  The exact duties and obligations of the parties, including a concise description of the services to be delivered.  The exact rate per hour and the total dollar amount of the services to be delivered.  The nature and limit of the contractor’s expenses that may be payable under the contract.  The total dollar amount that may be payable under the contract.  The term of the contract.  The type and frequency of billing and the payment deadlines.  The cancellation provision in case Government funding ceases (the annularity of the contract) in such a way that the Society is not bound to make payments for services received after the cancellation notice date.  The termination clause and the rights and limitations for each party. 12.3 APPROVALS Contracts must be reviewed by the Society's legal advisor as deemed necessary, prior to execution. The contract can only be approved by officers of the Society designated by the Signing Authorities Matrix. Before signing the contract, the authorized officer should ensure that funds are available in the budget to meet the commitments under the contract for the balance of the current fiscal year. 12.4 ADMINISTRATION At the discretion of the President and CEO, requests for proposals for significant contracts may be invited through direct mail and/or Bid BC. It is not necessary for the Society to accept the lowest bid; however, in case the lowest bid is not accepted, the files should show the corresponding rationale. The Operations and Technology Manager will work with each staff responsible for managing a contract to maintain a contract summary, which will be kept in the contractor's file and with the financial records. The summary should show the total payable under the contract and the periodic payments made to show the balance still remaining to be paid. The Operations and Technology Manager, in processing periodic payments under the contract, will process the payments, including use of the coding stamp and approvals, as outlined in this manual, to show that the services have been properly received.

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