EXPLANATORY NOTES REGARDING THE RETAINED RISK POLICY
Issued May 2022 by the Office of the University Counsel
The Office of the University Counsel has issued these Explanatory Notes to provide information regarding the Retained Risk Policy and any associated Procedures, Rules, or Guidelines.
Pursuant to the Regulatory Framework Policy (GA2), the Policy and any associated Procedure and Rules set out requirements that must be adhered to by members of the UBC community. However, Guidelines are non-binding and are merely intended to provide guidance to the UBC community. Guidelines may include illustrative examples, best practices, or recommendations. Similarly, these Explanatory Notes are informational only and do not have any regulatory effect.
The Responsible Executive(s) have primary responsibility for the implementation and administration of the Policy and any associated Procedures and Rules. Any questions regarding implementation and administration should be directed to the Responsible Executive(s). Any questions regarding the interpretation of the Policy and any associated Procedures and Rules may be directed to the Office of the University Counsel.
(If you wish to link to the current version of the Retained Risk Policy or any associated Procedures, Rules, or Guidelines, please link to this page (i.e., these Explanatory Notes). This will always provide access to the most current version of those documents. Please do not make a copy of the documents themselves or their direct links, since they may change from time to time.)
Policy Short Title: Retained Risk Policy
Policy Long Title: Retained Risk Fund for Major Construction Projects
Policy Number: FM10
View the Retained Risk Policy and Related Documents:
Retained Risk Policy and Associated Procedures
Policy Date: July 2019
Procedures Date: February 2020
Responsible Executive(s): Vice-President, Finance and Operations
Responsible Board Committee: Finance Committee
Related Policies: Regulatory Framework Policy (GA2)
Related Legislation: N/A