Procurement Card Program

The Procurement Card Program has been established to provide a more efficient, cost-effective alternative for departments to make purchases costing $5,000 and below (purchases over this amount must be bid). (See Fiscal Policy 410 for bid limits and requirements.) The procurement card may greatly reduce the department's need for petty cash accounts.

The procurement card is a special VISA credit card that works similarly to a personal credit card, except the charges are billed directly to the University and paid by the Treasurer's Office. The procurement card contains the cardholder's name and "The University of Tennessee." The phrase "tax exempt" and the University's tax-exempt number are also printed on the card.

Using the procurement card will benefit the University, its vendors, and employees and their departments. The University will save time and money by consolidating paperwork; vendors will receive payment more quickly; and departments will obtain the materials and services they need without unnecessary delays.

See Fiscal Policy 530 - Procurement Cards.