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Payments and Invoicing |
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- Introduction: Payment will be made in accordance with Accounts Payable policies and procedures and specific payment terms set forth in the Purchase Order
- Local P. O.: Upon the delivery of goods, and confirmation by the Receiving Department that goods have been “Received, Inspected and Accepted,” vendors submit their invoices to the vendor’s section in the Comptroller’s Office for payment. The Purchase Order Number should be indicated by the vendor on the invoice and the original Purchase Order should be attached to the invoice.
- Purchases from Foreign and U.S. Suppliers: Payments in settlement of foreign Purchase Orders are processed upon receipt of an original invoice and original Purchase Order, and in accordance with the terms set forth on the Purchase Order to the extent different from the AUB standard payment terms and procedures. Such terms may include, for example, the following:
- payment by bank transfer in advance of delivery upon receipt of an original invoice and Purchase Order.
- payment by bank transfer upon the confirmation that the goods have been posted in Oracle as “Received, Inspected and Accepted” , the original Purchase Order and invoice.
- payment by sight draft against shipping documents, the original Purchase Order (if allowed by the Bank) and invoice through the bank.
- Purchases from U.S. Suppliers sourced by the U.S. Purchasing Agent: Payments in settlement of Purchase Orders to U.S. Suppliers sourced by the U.S. Purchasing Agent in settlement of their invoices are made by the U.S. Purchasing Agent on behalf of AUB. In return, monthly payments are made to the U.S. Purchasing Agent on the basis of the supporting invoices and original Purchase Orders.
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