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Vendor Payments – Stop Payments Procedures (Australia only)

Parent Policy

Vendor Payments Policy (Australia Only)

Definition of terms

Cheque: written order directing a bank to pay a sum of money to a third party.
Foreign Draft: A written order directing an overseas bank to pay a sum of money to an overseas third party.
Stop Payment: Instruction issued to a bank requesting that a cheque or foreign draft previously drawn and payable to a person or entity is no longer to be paid.

Stopping Payment on a Foreign Draft

Advise Accounts Payable of the vendor number, SAP document number, amount and draft number if known relating to the foreign draft payment to be stopped. Also advise Accounts Payable if a replacement is required. Note: Stop payments placed on foreign drafts will incur a bank fee. This fee will be passed to the requesting department and will be apportioned to the cost centre as per the account code charged on the original invoice.

Responsibility

Requestor

If the draft has not been presented, a stop will be put on the draft and reissued if requested.

Responsibility

Accounts Payable

Stopping Payment on a Cheque

Complete the Request to Cancel/Stop/Replace Cheque form and fax/send to Corporate Finance. If any changes to the cheque are required for it to be reissued (e.g. address) then highlight them on the form.

Responsibility

Requestor

If the cheque has not been presented a stop will be put on the cheque and it will be reissued if requested.

Responsibility

Accounts Payable

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