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Wire Transfers
| Wire transfers are a means of paying an
invoice which requires the prior approval of Accounts
Payable. A wire transfer should not be used to
circumvent standard State Invoice Processing Procedures.
Documentation required in processing a wire transfer
transaction includes the following:
- Original invoice with: amount due, payee, address
of payee, account number and subcode to be charged,
a valid purchase order and an original approval for payment.
- A completed original X-9 form by the
department from the issuing bank.
Sample form of items completed by the department
prior to submittal to Accounts Payable:
- Vendor Name
- Vendor Phone Number
- Vendor Address
- Original Signature and Date of the Vendor
- Bank Name (Vendor's Bank)
- Bank ABA Number (foreign banks may not have,
branch description should be used)
- Bank Account Number (for the account in which funds
are to be deposited)
- Contact Name (Bank Personnel)
- Bank Phone Number
- Signature of Bank Representative approving
transaction
- Date of approved transaction by Bank
Representative
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Blank Wire Transfer Form
(PDF Format)
Subcontracts
Payment of Expenditure: To request payment
of an expenditure on a grant, the principal investigator should send
to the Accounts Payable Office: (1) the original invoice stapled
to a purchase order (if available), and (2) a copy of the
invoice. The principal investigator should review and approve
all invoices and indicate the account number and the purchase order
from which the expenditure should be paid. Either the principal
investigator or another person(s) he or she designates as authorized
to approve expenditures on the grant must sign each invoice. At
minimum, the subcontract must include the following:
- Scope of work;
- Identification of the proposed subcontractor, contact person,
address, and phone number;
- The proposed subcontract price;
- The methodology proposed by the prinicpal investigator (PI) to
monitor execution of the subcontract;
- Clause for changes which require written approval;
- Clause identifying payment method to subcontractor;
- The assigned purchase order number;
- Authorized start and end dates;
- Termination clause;
- Liability clause;
- Clause stating the prime award terms and conditions that apply
to the subcontract;
- Subrecipient audit clause; and
- Other information as required by the contract officer and
university reviewers
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Memo of
Agreement between UMB and Honoraria
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