Field advances

A field advance is, in essence, a loan from University of Washington (UW) general funds made to an individual (the custodian) to provide a temporary source of funds for conducting official UW business that cannot be paid for using traditional methods (i.e. purchase orders, check requests, UW Travel/Procurement credit cards).

The field advance:

  • Cannot be issued for more than a six-month period. If funds are needed for a longer period, an additional advance may be requested near the end date of an outstanding advance.

  • Must be reconciled within 30 days after the end of the field advance period.

  • If cash will be carried into a foreign location, find out how much cash can be carried in.  If $10,000 or more in cash is being carried into or out of the U.S., ensure that the proper documentation is in place.

See the Field Advances website for complete information.

Resources

Mallory Erickson, Procurement Services,  206-221-1869

Foreign Bank Account

If a foreign bank account will be needed, review the procedures for opening one.  Determine, in advance, if any of the following will be concerns:

  • Do host country laws prohibit repatriating unspent funds when the account is closed?

  • Does a non-citizen of the host country have to report the bank account to local authorities?

  • Will the account be taxed by local authorities in the host country?

Foreign Exchange Rate

Oanda.com is the recommended site to determine the appropriate foreign exchange rate.