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VP for Finance & Treasurer
University of Pennsylvania
Suite 731 Franklin Building
3451 Walnut Street
Philadelphia, PA. 19104

215.898.9844 (Phone)
215.573.6392 (Fax)

[ Financial Policy Manual ]

2316 Stop Payments/Check Cancellations
Effective: November 2006
Last Reviewed: November 2006
Responsible Office: Comptroller
Approval: Comptroller
View PDF Version

Purpose

To establish the responsibility for processing stop payment and check cancellation requests.

Policy

1. The Office of the Comptroller is responsible for maintaining an effective and efficient system for stop payments and/or check cancellations.

2. Stop payment requests should be sent to the Accounts Payable Department immediately upon the discovery that a check has been lost or stolen. This notification must include the payee, the amount of the check and the reason for the stop payment request.

3. Cancellation of a check will occur only upon the receipt, in Accounts Payable, of a written request stating the reason for the cancellation.

4. Replacement checks will be issued in a timely manner.