All equipment leases must be reviewed and executed by RFCUNY on behalf of a principal investigator's sponsored project. Lease terms cannot exceed a project’s end date. A copy of the lease agreement should be sent to the Procurement & Payables department manager by email along with a completed purchase requisition form. The agreement will be reviewed and executed and funds will be encumbered against the associated project to facilitate payment.
If a sponsored project is expected to be housed off-campus in a leased space, Procurement & Payables must be contacted. RFCUNY’s Office of Legal Affairs reviews each lease to ensure its terms do not conflict with the terms of the approved award budget award that will be charged for paying the lease.
A lease cannot extend beyond the period for which a sponsor has provided funding. A multi-year grant without the funding up front is not sufficient to enter into a multi-year lease obligation.
A purchase order or small order form may not be used as a substitute for a space lease or agreement.