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E. Contract Administration

Medical Center Purchasing shall administer Medical Center contracts, including:

• 1. Procuring of supplies, equipment, and services
• 2. Reviewing and processing of requisitions, purchase orders, contracts, bids, and payment requests
• 3. Coordinating vendor contracts and communications
• 4. Tabulating of bids
• 5. Processing vendor returns
• 6. Expediting past due orders
• 7. Coordinating activities involving UHC agreements
• 8. Reviewing vendor and product complaints
• 9. Reviewing new products
• 10. Identifying and coordinating supply expense reduction and standardization activities

Contracts must include provisions requiring contractors to pay promptly all subcontractors upon receipt of payments from the University. Contracts may include provisions for retainage, where appropriate, and where the retention provisions are described in the solicitation. Contracts also may be modified, extended or enlarged by agreement between Medical Center Purchasing and the contractor where such modification, extension or enlargement is in the best interest of the University and the Medical Center.

The Medical Center shall pay invoices and interest on past-due invoices in accordance with good business practice and the applicable provisions of the Code of Virginia as outlined below. The payment due date for all Medical Center invoices shall be the later of: (a) thirty (30) days from the date of receipt of goods and/or services (providing no defect or impropriety is detected in the invoice or goods and/or services received), (b) the invoice due date, or (c) the due date established by contract. Payment may be made earlier than the payment due date as deemed appropriate by the Medical Center. The Medical Center shall pay interest on properly-presented invoices outstanding more than fourteen (14) days beyond the payment due date at a rate no higher than the lowest prime rate charged by any commercial bank as published in The Wall Street Journal. Payment of Medical Center invoices shall be made in compliance with the set-off procedures of the Virginia Debt Collection Act, Section 2.1-726 et seq. of the Code of Virginia. The Medical Center shall submit an annual report to the Executive Vice President and Chief Operating Officer which summarizes the total interest paid in conjunction with past due invoices for each fiscal year.