Two Party Agreements are required to establish a contractual agreement when an individual will be performing a one-time or short-duration service. University Policies, Procedures and Guidelines 3.1.26 Employee vs. Independent Contractor, discusses the guidelines to consider when determining whether a Two Party Agreement or payment through the Payroll system is the correct method to use for payment for services.
Two Party Agreements must be signed by both the contractor and the Fiscal Agent prior to any work being performed. The Two Party Agreement, contains required clauses, including a description of services to be performed, the place of performance, the terms of payment, the contractor's residency status, etc. See University Policies, Procedures and Guidelines 7.3.7 Two Party Agreements, for more information on Two Party Agreements.
Agreements in excess of $2,500 require a requisition and purchase order. Contact Purchasing, (309) 438-7611, for more information.
For more information on Restricted Two Party Agreements, contact , (309) 438-3291.