Payment to Vendors; Payment Processing Guidelines

REGULATIONS OF THE

UNIVERSITY OF FLORIDA

3.022 Payment to Vendors; Payment Processing Guidelines.

(1)     Documentation authorizing payment to a vendor of an invoice shall be approved for payment by the University Controller after receipt of the invoice and receipt, inspection and approval of the goods or services, except that in the case of a bona fide dispute the voucher shall contain a statement of the dispute and authorize payment only in the amount not disputed. All payments shall be disbursed in an efficient manner consistent with professional business practices.

(a)     Travel and other reimbursements to University officers and employees must be paid in the same timeframes and process as payments to vendors under this section.

(b)     Invoices received from vendors that have failed to supply the University with a complete and accurate W-9 or other form that provides all necessary data to determine 1099 status will be deemed insufficient for payment until such information is received.

(2)     The University shall authorize advance payments for goods and services, including, but not limited to, maintenance agreements and subscriptions when advance payments are required by the vendor and it has been determined there is adequate protection to ensure that such goods or services will be provided.

(3)     All purchasing agreements between the University and a vendor shall include a statement of the vendor’s rights and the University’s responsibilities under this rule. The vendor’s rights shall include being provided with the telephone number of the staff member acting as vendor ombudsman within the Office of the Vice President and Chief Financial Officer.

Authority: BOG Regulation 1.001.

History: New 5-30-04. Formerly 6C1-3.002; Amended 3-23-18 (technical changes only).