Financial Policies

Policies related to the financial operation of the University of Pennsylvania

Procurement Services
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Last Reviewed September, 2024

2301 Authority and Responsibility for the Purchase of and Payment of Products & Services

To define the authority and responsibilities for the procurement of goods and services for the University.

2300 - Procurement/Disbursements

Procurement Services

Last Reviewed January, 2025

2302 Commitment to Local Economic Opportunity

To outline efforts to support local business through intentional procurement efforts.

2300 - Procurement/Disbursements

Procurement Services

Last Reviewed September, 2024

2303 Use of a Purchasing Card

To establish the policies and procedures related to the appropriate use of a University of Pennsylvania Purchasing Card.

2300 - Procurement/Disbursements

Procurement Services

Last Reviewed September, 2024

2304 Purchases from Related Parties

To preclude conflicts of interest with regard to related party purchases.

2300 - Procurement/Disbursements

Procurement Services

Last Reviewed September, 2024

2305 Compliance with Procurement Policies

To establish responsibility for ensuring compliance with University procurement policy.

2300 - Procurement/Disbursements

Procurement Services

Last Reviewed September, 2024

2306 Contract Compliance

To optimally leverage University spend and achieve best value for goods and services purchased.

2300 - Procurement/Disbursements

Procurement Services

Last Reviewed September, 2024

2307 Exemption from State Sales & Use Tax

To enable proper use and prevent unauthorized use of the University’s sales and use tax exemption with the Commonwealth of Pennsylvania.

2300 - Procurement/Disbursements

Procurement Services

Last Reviewed September, 2024

2308 Competitive Bidding

To define purchases requiring competitive bidding.

2300 - Procurement/Disbursements

Procurement Services

Last Reviewed September, 2024

2309 Receiving & Inspecting Purchased Goods

To ensure the proper receipt and inspection of purchased goods.

2300 - Procurement/Disbursements

Procurement Services

Last Reviewed April, 2024

2310 Payment of Purchase Order Invoices

To ensure the prompt and efficient processing and payment of approved purchase order invoices.

2300 - Procurement/Disbursements

Procurement Services