FMPM 410 Creditors
To provide clear direction on the commitment of funds, and discharge and payment of liabilities relating to Creditors for goods and services procured on behalf of the University.
Commitment of University funds
Authority to discharge a liability to a creditor
Settlement of a liability (payment terms)
Director, Financial and Business Services
An authority to discharge a liability to a creditor must not be given unless the goods or services have been received in satisfactory condition, or in the case of prepayments, it is believed that the goods or services will be received in a timely manner.
Settlement of a liability will be made on payment terms in accordance with contractual or legislative requirements or as determined by the Director, Financial and Business Services.
Related documents, legislation or JCU Statutes
For enquiries in relation to this FMPM Policy please contact AccountsPayable@jcu.edu.au.
Deputy Vice Chancellor, Services and Resources
Date for next review
Policy Sponsor and Approval Authority updated to reflect the approved Policy and Delegations Framework
Quality Standards and Policy Unit
Finance Committee (06/11)
There are no related procedures.
There are no other related documents.