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Procurement Card Settlement Procedure                         Home > Accounting/Procurement > Procurement Card SP

The Old Dominion University Research Foundation is administered through Bank of America Credit Card Services. The instrument used for this program is a VISA corporate credit card program. Each month the individual cardholder will receive a statement of card activity. The statement is mailed directly to the cardholder at their business address.

The cardholder is responsible for reviewing the card activity and authorizing payment of the current charges. The cardholder is to appropriately code the project number and object code for all charges on the statement. Project numbers and object codes may be recorded directly on the face of the monthly statement or a Settlement Sheet may be used if there is insufficient space on the statement. Appropriate supporting documentation in the form of original sales receipts, packing lists, credit card slips, hotel portfolio statements, etc should be attached to the statement. The statement is to be signed by the cardholder and forwarded to ODU Research Foundation Accounts Payable for payment. No other signatures are required.

ODU Research Foundation Accounts Payable will process all credit card payments on a monthly basis. Detailed project activity reports will reflect credit card charges as "Bank of America" in the description field with "VISA and month of statement" indicated in the reference field. Any questions concerning the amounts reflected in the project activity reports may be directed to ODU Research Foundation Accounts Payable.

Additional terms and conditions governing the use of an ODU Research Foundation procurement card are:

Inquiries concerning the ODU Research Foundation Procurement Card Program may be forwarded to:

Procurement Card Administrator
Old Dominion University Research Foundation
P. O. Box 6369
Norfolk, Virginia 23508



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