International Draft Requests13777

Purpose:

Texas Christian University maintains an approval structure to expedite the payment of
international University obligations in foreign currency through International Drafts,
while maintaining checks and balances over the movement of cash. The intent of the
policy is to specify documentation requirements, process and procedures, for consistency
in international payments.

I. Transactions Eligible for International Draft

a. Transactions in a foreign currency can be submitted to Elaine Martinez (or Kathy
Brandon if Elaine is out) in Accounts Payable for payment by international draft
in the required currency.

b. International transactions for travel related expenses should be submitted at least
one (1) week prior to the departure date.

c. Generally, there is a 4 day turnaround for all other payments. However, at the
beginning of each term, payment turnaround may be longer. Please allow extra
time for payment during these busy times at the beginning of each academic
semester.

II. Documentation for International Drafts:

a. Specific foreign currency must be included in the documentation. For example,
specify Euros or use the 3 digit code for the currency abbreviation, in this
example, EUR. In the case of dollars also be specific. For example, specify
Hong Kong dollars or HKD, Australian dollars or AUD, or Canadian dollars or
CAD.

b. Documentation for international draft is the same as documentation required for
any payment by Accounts Payable (See Accounts Payable Procedures in the
Business Procedures Manual on the Financial Services Web site). This includes
budget stamps with the appropriate account codes and approval signatures.

c. International draft requests are submitted to Accounts Payable in The Harrison, Suite 1403 (or Kathy Brandon).