University and Purchasing Policies
Every transaction between a buyer and a seller involving the transfer of property is a contract. Some contracts are of the simplest form, while others are made the subject of lengthy written agreements, defining in technical terms the nature of the material, method of payment, and other contractual conditions.
From the inception to the consummation of a transaction between a buyer and a seller, many important issues are involved. The proper handling of these issues and the administering of the business features connected with them are vital factors in the successful completion of the transaction, and it permits the establishment of uniform policies with respect to seller relationships.
All Fordham University Purchase orders have standard terms and conditions that are designed to protect Fordham’s legal rights in transactions with suppliers. Only the Director of University Procurement has the authority to change or waive any standard PO terms and conditions including payment terms.
A Purchase Order is processed through the Purchasing Department. University policy requires that certain purchases costing over $5,000 (mostly for goods and services) be processed via a Purchase Order, and the expense “encumbered” in Banner.
Fordham University is recognized as a non-profit, educational 501(c) (3) institution, and is exempt from sales tax on most purchases. Individuals purchasing materials, supplies, and services subjected to New York State sales tax should speak to Purchasing or Accounts Payable prior to purchasing from vendor to discuss Fordham purchase tax exemptions.
Purchasing Manual Topics
- Purchasing Organization and Objectives
- Business Ethics/Ethical Conduct
- Vendor and Supplier Information
- Budgeted Funds
- Uniform Guidance: Grants
- Purchasing Thresholds
- The Purchasing Process
- Fordham Special Purchases
- Fordham Specific Agreements/Programs
- Receipt and Payment
- Procurement Frequently Asked Questions
- Fordham Vendor Agreement Chart
- Duplicating Center