Payments $10,000 and Over

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Payments $10,000 and Over

Pre-Approval Needed  

The University has a certain set of procedures in place to properly handle and process purchases over $10,000. For payments between $10,000 and $50,000, student organizations will work with SOAS and ASAP to secure the best price for the goods and/or services. Payments over $50,000 will require a formal bidding process. UM's Procurement department has this policy in place for three reasons:

  • Protection - Procurement will review documents to protect you as an individual, your group, and the University of Michigan
  • Stewardship - Students who hold positions within their organization at UM should be expected to know how to navigate policies when they graduate
  • Education - As Authorized Signers, students should gain transferable skills on how to properly manage large payments

Even if the service/good is split between multiple payments, it must go through this process.

In the case that you are only able to receive a service/good from one specific company that no other business offers, the Procurement team will notify you if this is necessary during step 4 listed below.

How To:

  1. An Authorized Signer should make a copy and fill out our SOAS Payments $10,000 and Over Form with your desired purchase details. Do not submit a Purchase Request.
  2. Email this form to SOAS with "Payment over $10K - Your Group Name" as the subject line. 
  3. SOAS staff will double-check your Signer status and balance, then forward on to our Student Life Procurement Team (ASAP).
  4. You will receive a summary of your options and your group will communicate which vendor you would like to do business with
    • In the case that you are only able to receive a service/good from one specific company that no other business offers, ASAP will notify you of this 
  5. Once the vendor has been established and services rendered, an invoice should be sent to both SOAS and cc ASAP. The ASAP team will process the invoice for payment.
  6. SOAS will place a hold on your account for the total amount which will be released once payment has been processed

SOAS Payments $10,000 and Over Form

What You Can Expect:

  • The whole process will roughly take 3 weeks or more depending on the product/service
  • The Procurement team will communicate with you to confirm your request has been received and when a PO has been created.
  • SOAS will place a hold on your account in the amount on your invoice