A Purchase Order (PO) and Procurement Card (P-Card) are both listed as approved buying methods for transactions $3,500 or less. P-Card transaction activity is monitored to ensure that cardholders are not splitting transactions to get at or below the $3,500 purchasing card transaction limit. When the total purchase transaction cost is greater than $3,500, a PO is recommended for the purchase unless the transaction is specifically noted as allowed in the P-Card policy, or one that can be found under the listing of goods and services that are exempt from competition.
Payment Request Forms (PDF) are submitted to Accounts Payable Services. iBuy+ transactions are submitted through one of the iBuy+ systems. Purchases through Travel Services utilize either the iBuy+ Travel system or GW's travel partner, Travel Leaders.
Leasing Versus Buying
Should a department lease or buy equipment?
If a department is acquiring something, but does not want to purchase it outright, the department may consider leasing. Generally speaking, it is usually not in GW's best interest to lease except in those cases where we are purchasing highly specialized equipment that has a high residual value. Because the George Washington University is not a commercial company, it does not benefit from federal or state tax deductions for leasing equipment. This, in effect, raises the cost to GW for leasing. However, if your department must lease, please be sure to contact the Procurement Department early in the process to determine if alternative financing from one of GW's banks may be superior to a supplier's lease terms.
Remember: It is never a valid reason to lease simply because a department does not possess sufficient funds for a purchase in its current funds budget. If a department has the need to obtain equipment and would lease due to shortages of current funds budget, the Procurement Department will work with you and the Budget Office to determine how to best finance the purchase.
For additional information, contact Katherine Steele, Senior Buyer, at 571-553-4274 or via email, [email protected].
Conducting business transactions in foreign countries or with foreign entities creates unique challenges for ensuring our suppliers are paid properly. Different forms, payment methods and payment terms may be required to remain compliant with all local, national and international laws.
To ensure efficient and effective international transactions, please contact Procurement and Accounts Payable in advance of your transaction. This will help avoid misunderstandings between the university and the service or goods provider.
For all international transactions, the Supplier (Payee) must be registered and active in our Supplier Maintenance database. For international individuals and entities, this requires a W-8BEN or W-8BEN-E rather than a W-9. Accounts Payable's International Transactions process outlines additional steps to ensure timely and accurate payments.
If payment by P-Card is possible, please consider this option. Payment in local currency (foreign currency) is preferred due to the preferable rates offered by the banks issuing our P-Cards. For more information or questions about international P-Card transactions, please call the P-Card office at 571-553-4267.
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