The College makes payments to vendors with checks in US dollars.
Certain payments are required to be made in a foreign currency draft.
The bank charges the College an additional fee for foreign drafts.
Departments requesting foreign drafts will be charged the
bank fee. The
current fee is $5 for each foreign draft and is subject to change.
All foreign drafts must follow existing Accounts Payable
policies for expenditures and payment terms.
Procedure:
Request for foreign drafts should be made on the Check
Request Form.
The box at the bottom of the form should be checked off indicating a request
for foreign draft. The foreign currency should be provided. Forward
form with supporting documentation to Accounts Payable
for
processing.
