Indiana Univeristy may enter into contractual agreements to serve as fiscal agent for certain entities which are external to IU governance for the purpose of facilitating the mutual achievement of educational, research and public services purposes and goals.
The purpose and function of the External Agency should relate to, and be consistent, with IU’s mission.
A draft contract must be subjected to thorough review by the appropriate campus and University administrative units prior to ratification and signature of the contract, in order to confirm that the relationship is in the best interest of the University as a whole. A standard contractual template will be utilized for all such agreements and will require approval of the campus and University administrative units.
External Agencies are no longer allowed to use motor pool vehicles. They are not required to carry an employee bond as part of the insurance requirement.
Please see policy External Agency Agreements, FIN-TRE-90 for procedural information.