Contracts+ (Formerly TCM) Module in iBuy

Process Description / Outline

1. The Contracts+ (formerly TCM) Module in iBuy must be used to submit contract requests for review, approval and signatures.

2. NYU Procurement and Payables (P2P) acts as the central link between suppliers, end users, and internal departments (OGC, Risk Management and IT Security) as needed.

3. A threshold with defined specialty exceptions was established for when a contract is required. See the NYU Contracts Webpage which houses all information pertaining to contracts, along with tip sheets and job aides.

4. The Services Agreement Template (formerly Independent Contractor Agreement, MSA) will now be prepared by Procurement. Use the Statement of Work (SOW) template with the contract request.

5. Allow at least one month in advance of the contract start date, especially for contracts with high risk elements. Refer to the P2P Contract Risk Matrix to review the various risk levels.

6. Once a contract is fully executed a requisition must be created in iBuy to initiate the Purchase Order (PO) process.  

7. The supplier should submit an invoice to nyuinvoices@nyu.edu after completion of work to initiate payment. The PO number should be referenced on the Invoice.

Policy Guidelines

• All new suppliers must be onboarded before submitting a contract for review.

• Suppliers will no longer be asked to answer insurance questions during the supplier onboarding process.  If insurance is required, the third-party service (Ebix) will reach out to the vendor on behalf of NYU.

• Contract Requestors will be involved only if the vendor is unresponsive after five attempts to contact the supplier.

• Risk Management involvement will solely be managed by the P2P Contract Manager assigned to the contract request.

• Suppliers/individuals will only be required to submit a certificate of insurance for high risk contracts, or moderate risk contracts flagged by P2P/RM.

• Contracts are required for defined specialty exceptions, regardless of dollar value.

• Contracts must be signed and executed via Contracts+ prior to services being rendered.

Training Resources

• P2P Vendor Contract Resource

Additional Resources

• Contract Risk Matrix

• Contract Templates

• Navigating the Contracts+ Module in i-Buy Tip Sheet

• Travel, Event, and Entertainment Contract Request Tip Sheet

• Requesting a Standard Contract

• Requesting a Contract Renewal Tip Sheet

• Requesting a Contract Amendment Tip Sheet

• IT Assessment in i-Buy Contracts+ Tip Sheet

• IT Assessment in i-Buy Contracts+ FAQs

Access and Exception Requests

• Insurance waivers will now be granted during the contracting process.

• If a supplier cannot meet NYU's insurance requirements, the P2P Contract Manager will escalate to Insurance Programs for review and approval of a waiver.

FAQs

1. How do I know if I have access to Contracts+?

• Select Contracts → Requests → Request Contract from the HomePage on iBuy. 

2. How do I get access to the Contracts+ Module in iBuy?

• Contact your Fiscal Analyst to submit a ServiceLink Request for access.

3. What steps do I need to take to submit a contract via the Contracts+ Module?

• Initiate a Contract Request via Contracts+ in iBuy (refer to the (Contracts+ Tip Sheet). Kindly ensure that the supplier is active on iBuy.

• Attach an unsigned contract to the contract request.

• On the Questions Page of the General Information section under Sub Dept FAS, select FAS - All Other FAS if your School does not appear on the dropdown menu.

• Under Sub Dept FAS, select FAS Fiscal Affairs if your Department does not appear on the dropdown menu.

4. How do I amend or renew a contract in Contracts+?

• See tip sheets for amending and renewing contracts.

5. How do I track contracts after they are submitted for review?

• See the Navigating the Contracts+ Tip Sheet.

6. When can I use a Purchase Order (PO) only?

• POs can be used for services under $10K, or for goods under $100K that do not fall into one of the defined specialty exceptions. A copy of the NYU PO Scope of Services template can be completed and uploaded to the requisition.

• If you are unsure about exceptions, complete the Statement of Work and attach it to the contract request and submit it via Contracts+ and the P2P team will make the decision.  If a contract is required the P2P team will manage the negotiation with the vendor on your behalf.