3.2: Contracts or Agreements
A contract, or an agreement, is a legally binding document that is used for most purchases over $50,000. It authorizes the contractor to design, build, provide services or deliver materials or supplies in accordance with the terms and conditions specified thereon (or incorporated from a bid or other document by reference). It also acknowledges the obligation of the Town to pay for goods or services ordered, upon the receipt and proper invoice. The Town Council and/or the Town Administrator, or authorized designee, may legally bind the Town in procurement documents. All negotiations, contracts and the like are not finalized until written signature of the Town Administrator or authorized designee.