Generally, goods and services provided to the University are paid for after receipt. On occasion, it may be necessary to provide a known and reputable supplier with an advance payment (prepayment).
Specific Instances where Advanced Payments are Permissible (with proper approval):
- High-cost equipment manufactured to meet functional specifications
- Books, periodicals and newspapers, including special order items for trade and professional publications
- Customized goods/services that cannot be re-sold to others once work has started
- Facilities/hotel deposits
- Caterers for food and beverage service for large official functions where caterer requires a deposit
- Research abroad: including deposits or expenses related to the research
- Principal investigators and other research personnel who conduct research using human subjects and pay the subjects a small amount (check for entire amount is paid to the investigator or experiment controller)
- Maintenance service contracts
- Membership dues
- Seminar and colloquia registration fees
- Performing artists, when contract requires payment before performance begins
Designated Procurement Director approval is required for all advance payments outside the scope of those listed above.
- When creating a PO in BearBuy, check the box titled 'Advance Payment on the Purchase Requisition'.
- After determining if advance payment is permissible, submit the advance payment request via the Payment Request Form in BearBuy.
- Attach appropriate supporting documentation to the form indicating the business need for the advance payment (or written confirmation of total cost, including tax, freight, & handling).
- Route to authorized department approver for all advance payments <$5k.
- Designated Central Procurement Buyer approval is required for advance payments ≥$5k.