Contracting Parties & Basic Terms

Contracting Parties

In all contracts, the contracting party for ASU is "the Arizona Board of Regents for and on behalf of Arizona State University." The reference may include a specific department as well. For example: "The Arizona Board of Regents for and on behalf of Arizona State University and Sun Devil Athletics." Typically, this clause would be followed by a parenthetical, short-form of the name for use in the rest of the contract, e.g., (hereinafter "ASU" or "University").

If the other party is a corporation, organization or other legal entity, be sure that the title includes the correct, full legal name and a reference to its state of incorporation and/or its principal place of business. For example: "ABC Corporation, duly incorporated under the laws of the state of Arizona." Or: "ABC, Ltd., with its principal place of business at 5140 W. Bell Rd., Phoenix, Arizona."

Basic Terms, Conditions

All contracts should contain the basic information necessary to understand the intent of the parties. These include:

• The names of the parties;
• The dates, or term of the agreement;
• The responsibilities and obligations of the parties respectively;
• The terms of payment, if any;
• The procedure for early termination of the agreement (e.g., 10 days notice); and
• A signature line for the authorized individuals executing the agreement.

Also, refer to the Required Provisions for all ASU contracts.