Procurement Office

Revenue Contracts

Revenue Contract Approval and Procurement Requirements

General Overview

A revenue contract involves SBU giving consideration, other than the payment of money, or receiving money, when the value or reasonably estimated value of such consideration exceeds twenty-five thousand dollars ($25,000). Revenue contracts exceeding $25,000 require prior approval by the NYS Office of the Attorney General (AG) and the Office of the State Comptroller (OSC) in order to be a valid, enforceable contract. No service should commence until OSC approval is received.

This requirement extends to repayment agreements and other agreements (e.g., barter agreements) where the consideration given by SBU does not involve the transfer of money, but the reasonable value of such consideration over the entire term of the agreement exceeds $25,000. In circumstances where consideration flowing from SBU cannot be readily determined in terms of current market value, it shall be valued in terms of intrinsic value. Intrinsic value measures an asset based on qualities in addition to its useful purpose, including both tangible and intangible factors. This value may or may not be the same as the current market value.

Approval by OSC of revenue contracts, including barter agreements, requires that the contracting State agency demonstrate a reasonable process has been followed to secure fair and reasonable contract terms. Typically, that process should involve competition to the maximum extent possible. Consistent with a procurement involving the expenditure of funds, SBU should maintain a procurement record documenting the decisions made and the approaches taken in selecting the contractor. The process shall include, but is not limited to, a clear statement of need, a description of the required specifications governing performance and related factors, a reasonable process for ensuring a competitive field, a fair and equal opportunity for offerors to submit responsive offers, and a balanced and fair method of award.

How to Initiate A Revenue Contract

Revenue Contracts are initiated by using the Contract Request Form in WolfMart.

  1. To access the Revenue Contract Request form, log into WolfMart, hover your mouse over the "Contracts" tab on the left, then hover over "Requests" and select "Request Contract". 
  2. In the "Select a Contract Request Template" field, select "Stony Brook University - Revenue Contracts".
  3. In the "Contract Request Name" field, give a name to the request. Standard naming convention is "STB - [VENDOR NAME]". Click "Submit".
  4. You will see the Instructions for the form. On the right side, you will see workflow similar to that of a Requisition. Click "Next" in the upper right corner after reading the Instructions. **NOTE** You can save your progress at any time by clicking "Save Progress" in the upper right corner.
  5. Review the details of your request and click "Next".
  6. Answer all the questions in each group: "Requester Information", "General Contract Information", "Second Party Information", and "Contract Funding". In the "Supporting Documentation" section, upload all supporting documents.
  7. When finished, click "Complete Request" in the upper right corner. A confirmation window will pop up. Click "Yes" to submit your request.
  8. You can view all your Contract Requests at any time by going to the WolfMart homepage, hovering over "Contracts", hovering over "Requests", and selecting "My Contract Requests".

You can also access a detailed job aid that provides step by step instructions to the Revenue Contract Request form. **PLEASE NOTE** A valid Stony Brook University account is required to access the job aid.

For issues with Customers, please contact Mary La Corte, Assistant Director of Strategic Sourcing, Administrative Services, at mary.lacorte@stonybrook.edu.

For assistance navigating WolfMart, please contact Allison Parrish, WolfMart Support Manager, at allison.r.parrish@stonybrook.edu.

Other Information

  • No public advertising is required for Revenue Contracts.
  • Selected Supplier/Customer is required to accept NYS Exhibits A and A1.
  • If necessary, Procurement will send Contract to local counsel for review. Once the review is completed, Procurement will send Contract to Vendor for signature.
  • Revenue Contracts that exceed $100K require the Supplier/Customer fill out a NYS Vendor Responsibility Questionnaire (VRQ).
  • Once the fully executed Contract and VRQ have been received and reviewed, the Contract will be sent to AG for review and approval and forwarded on to OSC for review and approval. Approximate timeframe for these AG & OSC approvals is 4 - 8 weeks. However, by statute, OSC gets up to 90 days after receipt of a Contract for its review and approval.
  • Procurement will maintain a Procurement record and Contract file for each Revenue Contract.