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This document sets forth the rules of procedure that employees must follow in executing any agreement or contract with a third party that legally binds the company. These rules are meant to ensure that only duly authorized persons approve and sign any such agreements on behalf of the company.
<aside> 💡 🚫 Please do not sign agreements on behalf of the company if you are not authorized to do so
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Sponsor. The employee initiating or sponsoring the agreement (the “Sponsor”) is responsible for following these rules and collecting the necessary approvals.
Legal Review. The Sponsor must ensure that the Legal department reviews and approves any agreement prior to execution. The only exception to this rule is for versions of our standard templates, such as our standard NDA or standard employment offer letter, which do not require additional approval from Legal.
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Business Approval. The Sponsor is responsible for ensuring that the business terms of the agreement are in the best interests of the company and must obtain the written approval of the appropriate business stakeholder listed in the table below.
Signatures. Once the Sponsor has obtained the necessary approvals, the Sponsor is responsible for obtaining the signature from the appropriate authorized signatory listed in the table below. The Sponsor must ensure that the signatory signs only the final, fully reviewed and approved version of the agreement.
Record-keeping. The Sponsor is responsible for forwarding written records of the final, fully executed agreement and necessary approvals to the Legal department for document preservation.
In calculating contract value, please aggregate recurring or multiple payments. Also include the value of any indemnifications and warranties.