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Payments to Accompany Order/Advanced Payments

Procurement

View Official Policy: Payments to Accompany Order Advanced Payments Policy

When the University commits to a purchase from a vendor, the vendor is expected to have adequate resources or working capital in order to provide the needed goods or services.  An advance payment to the vendor incurs additional costs for the University, presents risk of loss of the funds advanced in case of vendor bankruptcy, and reduces the University‚Äôs ability to negotiate in a dispute.   Accordingly, the University does not make full or partial advance payment to vendors except as allowed by this procedural statement or its stated exceptions. In all cases, a Vendor Profile Form must be on file for advance payments, as outlined in the Vendor Creation and Maintenance Policy. A payment to accompany order is a type of advance payment.

Responsibilities

Responsible University Senior Administrator: Vice President for Finance & Administration 

Responsible University Administrator: Procurement Officer 

Policy Owner: Procurement 

Policy Contact: Annette Evans 

Phone Number: 706-542-2361 

Responsibilities: It is the responsibility of the business manager of the end using department to justify the need for an advance payment and approve such payment. Additional approval is required from Sponsored Programs Post Award Accounting if a sponsored/restricted account is involved.

Date Issued: 01/01/2016

Last Reviewed/Updated: