Handbook of Business Procedures
Date published: February 21, 2012
Last revised: February 21, 2012
Issued by: Purchasing
7.9. PAYMENT TERMS, FREIGHT, AND TRANSFER OF OWNERSHIP - GENERAL INFORMATION
This section provides guidelines established by The University of Texas at Austin for payments from the university to vendors. These guidelines include payment terms, freight terms, and transfer of ownership from the vendor to the university (Free on Board – FOB).