Purchasing

Advance Payments

Advance Payments can be done under the following conditions:

• Goods or services are available only through prepayment

• Advance payment results in savings to the state greater than the interest if paid in arrears

Prepayments must be encumbered in FAST, regardless of cost. Original documentation that shows the price and the prepayment requirements must be attached to a requisition header with savings expressed by both dollars and percentag.