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Goods (Tangible Items) Costing Less Than $1,500.00

Purchases of this size may be made from an individual's personal funds for later reimbursement or with the Purchasing Card. Neither a Purchase Requisition form nor a Purchase Order form is required. If personal funds are used, the individual making the purchase may obtain reimbursement by submitting a properly completed Expense Report form to accounts payable.

As an alternative to personal funds/reimbursement and completion of a purchase requisition/purchase order the university offers a Purchasing Card, a MasterCard, issued by JP Morgan Chase to eligible employees for small dollar (<$1,500) value purchases. Subject to supervisor approval, you may apply for a university purchasing card. To obtain a purchasing card the following steps must be satisfied:

  1. Read the Purchasing Card Cardholder Guide.
  2. Complete the Cardholder Guide Evaluation. This completed form is required for training.
  3. Complete the Purchasing Card Application. (All applications are subject to approval by purchasing and accounts payable.) Please Do Not submit an application without first reading the Cardholder Guide.
  4. The purchasing department processes the application and receives the credit card from JPMC. Please allow 7 to 10 business days for the credit card to arrive from JPMC Bank.
  5. The program administrator notifies cardholder and schedules a training session. Training includes policy and procedure overview and online reconciliation training and is required for all cardholders before the card is issued. Cardholder must bring the completed Evaluation form to training.
  6. Following training the cardholder will sign a Cardholder Agreement acknowledging compliance to the program. The purchasing department will retain this form for their records.
  7. Credit card is issued to cardholder.

Restricted Purchases: Please see Cardholder Guide for a list of restricted purchases. Please send an e-mail ( or phone the purchasing department (x4006) if you have a question on whether an item is considered a restricted purchase. With the purchase of any such items please place your request on a Purchase Requisition form and attach a minimal of three bids before forwarding to Purchasing for processing.


All invoices are to be submitted to accounts payable.  This includes invoices not made payable to Regent or invoices containing errors.  Invoices from vendors, suppliers or outside contractors for goods or services acquired by means other than those approved in these policies will not be paid from university funds.  Rather, the individual who made the purchase will be personally responsible for payment.

Payment Terms

The university pays all vendors on "net 30" credit terms (payment 30 days after purchase).  Cost centers are not authorized to negotiate different terms or make special arrangements concerning payment terms.  Variances from this policy can only be approved by the purchasing manager.

Tax Exempt

The university is tax exempt for purchases made within the Commonwealth of Virginia only.  Buyers are required to inform the supplier of our tax status and ensure that we are not charged tax.  The exemption is not applicable to taxable services such as travel, events, entertainment expenses, catering, etc.  Contact Accounts Payable if you have questions on which purchases are subject to tax.  To access the tax exempt form: Click here




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