RYERSON CONTRACT CHECKLIST FOR RISK MANAGEMENT

contract letter of intentType of Contract: agreement memorandum of understandingdeed transfermemorandum of agreement assignment obligation

certificate other:

Term of Contract: Value of Contract:

N/A D/K*GENERAL Y N

Is this a new contract?1 .

Is this a renewal?2.

3. Are there automatic renewal provisions?If yes, does it require written approval?

3. Is the contract clear in setting out who the parties are?

4. Have all the terms been carefully defined?

5. Do you have authority under the Execution of Documents policy to sign thiscontract?

6. Does the other party have signing authority to bind the institution/company?

7. Are there inherent impacts on other areas/departments within the University?Please specify:

8. Do we have references that speak to the integrity and reliability of theindividual/institution/company we are entering into a contract with?

9. Has one person at the University been identified to monitor this contract ona timely basis? Please specify:

Comments:

D/K*FINANCIAL RISKS N/AY N

Are the fees/costs in Canadian dollars?1 .

2. Is there a maximum price/fee?

3. Are payments attached to specific milestones?

4. Does the contract contain late payment penalties?

Does the contract provide for payments beyond the University'scurrent fiscal year?

5.

6. Are there collateral costs to this contract with respect to:additional staff-additional equipment-additional space-renovations-insurance-other (please specify):-

7. Does this contract require annual review by the Internal Auditor?

Comments:

D/K*LEGAL RISKS N/AY N

1 . Has Ryerson legal counsel reviewed the final version of the contract andapproved it?

2. Are there any statements warranting or guaranteeing satisfaction?

3. Does the contract provide reasonable/specific time lines for deliveryof services/products?

4. Does this contract allow the other party to assign the contract to athird party without the University's written consent?

5. Does the contract create rights in parties other than the University orthe contractor?

6. Does this contract contain clauses that would make it subject to eitherthe laws or the courts of other provinces or countries?

7. Does the contract require translation/interpretation under a foreignlanguage or law of another nation?

8 Are all verbal understandings included in the contract?

9. Are there any other documents that must be read in conjunctionwith this contract to fully understand the implications?

10. Are quality assurance provisions built into the contract?

11. Have all changes to the contract been initialed by both parties?

12. Does this contract permit theUniversity to exit if the other party failsto perform?

13. Are there penalties for failure to perform?

14. Does this contract require confidentiality or non-disclosure requirements?

15. Does the contract specify the period of time the confidentiality ornon-disclosure provision applies?

16. Does this contract seek to limit the other party's liability?

17. Does the contract require the University to ''ensure'' use or otherwiseguarantee anything (eg. security of property, full access to the University)?

18. Does this contract conflict with any other contracts, promises or obligationsof the University?

Comments:

D/K*POLICY RISKS N/AY N

1 . Does this contract comply with all relevant policies of the University includingEnvironmental, Health and Safety Management, Discrimination andHarassment Prevention, Equity, Purchasing and Conflict of Interest policies?

2. Has the fee/price been tested through tendering?If not, what process has been used?

3. Have you consulted with subject matter experts within the University?Please specify:

4. Have you consulted with subject matter experts outside the University?Please specify:

D/K*REPUTATIONAL RISKS N/AY N

1 . Is there anything in this contract that would embarrass the University if it wereon the front page of a newspaper?

2. Is there anything about the process surrounding the awarding of this contractthat would embarrass the University if it were on the front page of a newspaper?

3. Does this contract allow the other party to use the University's name in anyadvertising, endorsement or promotion?

Comments:

Based on my knowledge of the substance of this contract and my discussions with legal counsel (ifappropriate) and other subject matter experts (if indicated), my assessment of the risks to the Universityare as follows:

Moderate LowHigh

LegalrisksFinancial risksPolicy risksRisk to reputation

DateSignature: Dean/Senior Director

*D/K = Don't know