A properly executed purchase shall constitute a contract which is binding upon both the institution and the vendor. All purchase orders, adjustments, cancellations, and/or revisions to purchase orders must be in writing from the Purchasing Coordinator. Purchase order totaling $5000 or more require a disclosure statement to be signed by the vendor.
All negotiations with a vendor pertaining to changes in prices, terms, conditions, substitutes, deliveries, etc., are to be handled through the Purchasing Coordinator in coordination with the budget manager. The Purchasing Coordinator will provide for the consolidation of purchases whenever possible and thus obtain quantity discounts for volume purchases.
When a purchase order has been assigned by Purchasing, a copy is sent to the requestor and the vendor if applicable.
Receipt of goods and/or services must be done before invoices are paid. Encumbrances will be liquidated when payment is made. Partial payments may be made if indicated.