An MOU may lead to the development of separate contracts with legal intent. ![]() Memorandum of Understanding (MOU) means a document that is intended to formalise the terms of a relationship, arrangement or understanding between the University and another party, but unless otherwise specified is not intended to be legally binding on either party. If the University Seal is required to be used for execution purposes it must be used and affixed to a deed in accordance with the University’s Use of the University Seal – Governing Policy. Execution of an Agreement as a deed may occur under seal or by signing and delivery by a duly authorised signatory and ensures that the specified terms and conditions are legally enforceable, even in the absence of consideration. licences) or for the provision of funding.ĭeed means a form of legally binding agreement that requires a high degree of formality for its creation. ![]() Contracts generally articulate business relationships for the acquisition or supply of goods or services, for the exploitation or transfer of intellectual property rights (e.g. Terms and definitions identified below are specific to this policy and are critical to its effectiveness:Īgreement includes each of Contracts, Deeds and MOUs.Ĭontract means an agreement between parties intended to have legal significance and involving the transfer of consideration (that is, value – financial or some other type of benefit - flowing from the beneficiary of the transaction). Please refer to the University’s Glossary of Terms for policies and procedures. Policy scope and applicationĢ.1 This policy applies to all staff and members of University decision-making or advisory bodies, including the University Council and its committees. Financial Accountability Act 2009 (Qld)ġ.1 This policy addresses the administration of Agreements which the University enters into, such as Contracts and Memoranda of Understanding.ġ.2 This policy deals with both legally binding Agreements, such Contracts and Deeds, and with Memoranda of Understanding which are formal or strategic agreements but do not bind the University in a strict legal sense.University of the Sunshine Coast Act 1998 (Qld).University Consultancy Work - Procedures.University Consultancy Work - Operational Policy.Outside Work and Private Practice - Operational Policy. ![]() Management of Contracts and Memoranda of Understanding (MOUs) - Procedures.Management of Contracts and Memoranda of Understanding (MOUs) - Governing Policy.Intellectual Property - Governing Policy.Information Management Framework - Governing Policy.Information and Records Management - Procedures.Governance Framework - Governing Policy.Fraud and Corruption Control - Governing Policy.Financial Management Practices - Operational Policy.Externally Funded Research - Academic Policy.Enterprise Risk Management - Governing Policy.Delegations Framework - Governing Policy.Download PDF Approval authority Council Responsible Executive member Vice-Chancellor and President Designated officer Chief Operating Officer First approved 20 April 2010 Last amended 12 February 2020 Review date 23 February 2026 Status Active Related documents
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