Office of
Procurement Services

Buying

Contracts

Policies

Training

P-Card

Resources

Contact

Institutional Purchasing Policies

Policies » Prepayment of Orders

University Procurement Services

• SOURCE: Prepayment of Orders
• POLICY NO: P - 7.0
• DATE ISSUED: February 18, 1992
• DATE REVISED: June 30, 2009

Rationale

To assure satisfactory value is received prior to payment.

Policy

Payment for goods or services shall not be made unless satisfactorily received prior to payment.

Exceptions

1. Payments to local, state, and federal government entities.
2. Any procurement of goods or services where the source provides an instrument of security.
3. Where the funding agency has authorized prepayment.
4. Service and maintenance contracts where necessary.
5. Small orders (under $2,500.00) where the account manager approves prepayment.
6. Approval by the Assistant Vice President, University Procurement Services or campus director/Vice Chancellor.

Procedure Reference

Prepaid orders shall be submitted to Financial Management Services for inclusion of check with order. Invoices for partial shipments will be accepted.

Responsible Organization

• University Procurement Services

Last Reviewed: June 30, 2009

top↑