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Home :: Policies :: Acc.Payable-Pymts for Leases & Srvc. Agrmts.

Acc.Payable-Pymts for Leases & Srvc. Agrmts.

Responsible Department
Comptroller
Effective Date
10/01/2015
  1. .

    Purpose

    The purpose of this policy is to clearly state the procedure for the payment of leases and service agreements.

  2. .

    Definitions

    Please see the University System of Georgia Business Procedures Manual at: http://www.usg.edu/business_procedures_manual/

  3. .

    Statement

    1. After the department has initiated a Purchase Request and Field Purchase Order has been issued by the Procurement Department, the Accounts Payable Department prepares a Partial Payment of Service Agreement or monthly from the information recorded in the Field Purchase Order and/or the contract.

    2. Payment will be made each month or other due date unless the Accounts Payable Department is notified to discontinue payments. If the agreement is canceled or modified, the department should notify the Accounts Payable Department and the Procurement Office in writing, of the cancellation and no further payments will be made and a change order will be issued.

    3. No payments will be made unless a current contract has been processed and a Field Purchase Order has been issued for the current period. If a contract is to be continued, it is imperative that a Purchase Request be submitted and a Field Purchase Order be issued immediately upon termination of an existing contract to prevent delay in payment to the vendor.

    4. Upon receipt of an invoice for leased equipment or a service contract from the vendor by the Accounts Payable Department, a copy of the Purchase Order will be attached to the invoice and entered into the computerized system for payment. Upon request, a copy of the invoice will be forwarded to the department with a notice attached indicating that payment has been made and that the copy of the invoice should be retained as support for a charge appearing on the status report.
  4. .

    Support Info

    1. For any additional clarification, please contact the Comptroller’s Office or Accounts Payable.

    2. This document replaces North Georgia College & State University/University of North Georgia Policy and Procedure 708.10 which was in effect from July 1, 2009 through the effective date of this policy.
  5. .

    Procedures

    Any related operating procedures must comply with and reference this policy.

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