All departments seeking to procure goods and services should begin by contacting the Purchasing & Contracts department.
Every contract has risks that must be reviewed from the perspective of protecting Georgetown University from financial loss. This section is designed to provide you with guidelines to help you manage risk when you contract products and services on behalf of Georgetown University. Our objective is to help the University community understand insurance requirements as they relate to contracts.
The majority of contracts that are reviewed by Risk Management are vendor agreements. In an attempt to standardize these agreements, Georgetown University has developed “Standard Terms and Conditions” language. The Standard Terms and Conditions must be presented to every vendor as part of the contracting process.
Once the vendor accepts the GU Standard Terms and Conditions as they are written, there is no need for Risk Management to review the contract.
Vendors may try to place a greater responsibility for liability claims on Georgetown University in the event of a lawsuit. The Standard Terms and Conditions language provides protection by ensuring the responsibility for liability losses is distributed equally between Georgetown and the Vendor.
The Standard Terms and Conditions language addresses three important protective elements. The first is the Mutual Indemnification Clause, which states that Georgetown University agrees to indemnify and hold the Vendor harmless from financial loss resulting from the negligent acts by the University. Conversely, the clause states that the Vendor will indemnify and hold Georgetown University harmless from financial loss due to the negligent acts of the Vendor.
In addition to vendor agreements, Georgetown University reviews the following types of contracts:
- Consulting and Professional Services
- Commercial Lease of Premises
- Charter Transportation
Risk Management currently reviews these contracts with General Counsel on an ad hoc basis.
Questions? Contact Risk Management at (202) 687-6622