The third payment advantage with our equipment is our loyalty card program called Sprout.
The University receives 20% commission of the sales of the items being sold.
It is the Policy of The University of Texas System that all contracts for vending machine services be awarded in accordance with applicable laws and rules and that those involved in the procurement process perform their responsibilities in a fiscally prudent and ethical manner. The Rules specify minimum requirements for the institutional policies applicable to contracts for food and beverage services located in or in conjunction with student unions, residence halls, or campus-wide cafeterias, and contracts for vending machine food and beverage services. The recommended Standard Agreement was developed by the Office of General Counsel (OGC) for use by U. System institutions for vending machine arrangements entered into after the effective date of this policy. System institutions should use either an appropriate competitive selection process or other method that will achieve best value in selecting a contractor or contractors to provide vending services. System institutions should solicit and obtain proposals from prospective contractors far enough in advance of the projected start date for the contractor's operations to allow sufficient time for (1) a review of the proposed vending machine agreement by OGC, as necessary under 5.1 of this Policy, (2) negotiation of the vending machine agreement, and (3) scheduling the vending machine agreement for approval by the Board of Regents at a regular Board Meeting. An institution's vending machine agreement should normally have a term of either two years or four years, with the expiration date of August 31, the end of the State fiscal year or biennium.
This policy provides requirements and guidelines for entering into contracts for installation and operation of vending machines for auxiliary enterprise purposes on property owned or controlled by U. The Standard Agreement was drafted to cover the operation of vending machines offering typical food and beverage items; it will need to be revised if an institution plans to contract for (a) on-campus installation of coin or card-operated laundry machines, amusement games, or other machines substantially different from typical drink or snack machines; or (b) additional beverage-related services, such as fountain beverage supplies, or beverage pouring, advertising, or promotional rights. In developing the desired qualifications and selecting a contractor, a U. System institution will comply with Board of Regents' , Rule 50302 and its institutional policy concerning student participation in selection of food service providers. The Standard Agreement form provides that the term may be extended for an additional two years beyond the original term. Institutional officers should note the requirements of Sections 2252.062, 2252.063, and 2252.064, concerning the contractor's submittal of financial statements, posting of a performance bond, and reporting of sales information. System institution should request that each prospective contractor submit its financial statement as part of the prospective contractor’s proposal. System institutions entering into vending machine agreements using the Standard Agreement, with no modifications except completing the blanks, need not obtain review as to legal form from OGC prior to Board approval. System institutions of vending machine agreements that (1) do not modify in any way the form of the original contract and (2) are documented by using the standard U. System Extension and Amendment of Vending Machine Services Agreement without modifying the substance of that standard form, do not require review or approval by OGC.
This file contains additional information such as Exif metadata which may have been added by the digital camera, scanner, or software program used to create or digitize it.
If the file has been modified from its original state, some details such as the timestamp may not fully reflect those of the original file.