5.16 Paying Contractors
5.16.1 Objective #
To provide policies and guidelines on paying contractors for goods and services through the University of Tennessee Foundation (UTFI).
5.16.2 Invoicing And Payment #
A request for payment should be made by entering information from the contractor’s invoice(s) in the accounting system or submitting T-27: Request for Special Payment. The following information should be included on form T-27 or the invoice:
- Date and amount of request
- Contractor’s name, professional title, and home address
- Name and address of contractor’s present employer
- Contractor’s social security number or federal employer ID number (if not already in IRIS)
- Description and dates of services performed
- Unit of time and rate of pay on which the requested compensation is based
- Name and number of cost center/WBS element to be charged
- Signatures showing the required approvals
The department that receives services from a contract must adequately review the services being rendered and maintain adequate records of these services. After determining that services have been satisfactorily performed, the authorized departmental official will approve a request for payment. Final payment will not be authorized until the contractor has fulfilled his or her contractual obligations. NOTE: For personal, professional, and consultant services, the contractor shall submit brief, periodic progress reports as requested. Unless otherwise indicated, contracts that provide for reimbursement for travel, meals or lodging will be authorized and reimbursement paid in accordance with UTFI travel policy. Updated: June 1, 2021