October 18, 1995
V. WAYNE KENNEDY
SENIOR VICE PRESIDENT--BUSINESS AND FINANCE
Delegation of Authority--Settlement of Claims
At the meeting of September 15, 1995, The Regents adopted a Policy
on Settlement of Claims and Litigation (copy attached).
- The Policy states in part that:
- "claim" shall refer to any demand for payment which is disputed in
whole or in part and is made other than through litigation. Commercial
negotiations to adjust amounts payable under contract shall not be treated
- the President is authorized to settle claims when the consideration paid or
received by the University shall have a value not in excess of $100,000;
- the President shall obtain concurrence of the General Counsel when the
consideration paid or received by the University for settlement of claims
exceeds $50,000; and
- settlement of claims by the President shall be subject to appropriate
- The Policy directs the President to provide The Regents annually with a report
of all claim settlements.
- Settlements of any amount involving significant questions of University policy
shall be submitted to The Regents for prior approval.
Effective immediately, the above authority and responsibilities granted to the President
are delegated to the Senior Vice President--Business and Finance.
Any redelegation of the above authority and responsibilities shall be in writing with a
copy to the Special Assistant--Coordination & Review and the General Counsel and Vice
President for Legal Affairs.
Richard C. Atkinson
Members, President's Cabinet
Associate Vice President--Business and Finance
Special Assistant--Coordination & Review
Principal Officers of The Regents