Once concluded, transfer agreements shall be published on ESMA`s website to ensure that all parties concerned are properly informed. The purpose of this Directive is to describe the nature of the agreement that requires the University to provide payments, services, goods or the use of academic property, facilities or other resources to an external party (hereinafter referred to as «Contracts») to be performed by the President or Delegate. Only the President and specific persons authorized by this Directive or in writing by the President, by directives or other documents authorizing this Directive, shall be entitled to enter into contracts on behalf of the University. The Vice-President responsible for Finance and Administration shall be responsible for the development and management of procedures to ensure compliance with this Directive. After being informed of a proposed delegation agreement in accordance with point (v), ESMA shall have the possibility to issue an opinion thereon within one month (calculated in accordance with Regulation (EEC, Euratom) No 1182/71, in accordance with Article 28(4) of ESMA Regulation. DOA (delegation of authority) means the granting of powers to another person in the specific areas described in his delegation. The purpose of the Delegation of authority (DOA) Policy is to create delegations of authority conferred by the Board of Trustees on the President of Drexel University, under which some delegations are assigned to others to act on behalf of the President. This Directive defines the responsibilities associated with such delegations. The pursuit of greater prudent convergence is beneficial for both EU supervisors and financial market participants. One of the instruments available to achieve this is the transfer of tasks and competences from one national competent authority (CBA) to another or to ESMA.
The aim of such delegation is to reduce dual supervisory functions, promote cooperation, streamline the supervisory process and reduce the burden on financial market participants. Contract means any type of contractual agreement, in any form whatsoever (including, but not limited to, letters or statements of intent, e-mails or other forms) that the University enters into in a binding agreement with an external body, University staff or other third parties. It aims to clearly establish the authority to engage the university and to define the responsibility and responsibility of those who have been designated in this way in order to define and maintain the necessary and appropriate guidelines and procedures to properly carry out their delegation roles. . . .