Per Minnesota State Board Procedure 5.14.2 Minnesota State University, Mankato is required to prepare Professional/Technical contracts for all companies and individuals who will be paid to perform a task or service.
Examples of Professional/Technical contracts would include, but are not limited to speakers, entertainers and consultants. All accounts, including student organizations, activity accounts, grants, foundation, etc., are required to use contracts.
Difference Between a Contract and Purchase Order
Contracts are for
- Purchased Services
- Software License Agreements
- Intra/Inter Agency between MinnState or other State Agencies
- Intellectual Property
- Real Estate
Purchase Order (PO)
- Describes the goods or services to be acquired from external vendors
- Encumbers funds in the accounting system for the related financial commitment
Marketplace (for Contract Managers Only)