It’s important to follow U-M business, financial and legal policies while abroad. This page provides general information about procurement, aid and managing finances. There is guidance about tax requirements, wire transfers, foreign bank accounts and credit cards. Other issues covered include vehicle use, rules regarding accepting gifts and travel to U.S.-sanctioned governments.
Business and Financial Information for Travel Abroad
- Emergency funds
- Procurement Services
- Tax and Filing Requirements
- Travel and Expense System (Concur)
- Risk Management
- Restriction Destination Liability Waiver
- Applying for Student Aid
- Contract Issues/Contract Avoidance – Procurement
- Foreign Banking
UM Funds in Foreign Countries
Various inventory and/or payment methods while in a foreign country.
- Foreign Bank Accounts in the name of the Regents of the University of Michigan
- Standard Practice Guide (Banking and Treasury Services)
- The Office of the Treasury should be contacted for more information
- Regular Procurement Methods
- Includes purchase orders and their related invoices
- Wire Transfers, Foreign Drafts, and ACH Payments
- These payments may be initiated by a) Procurement Services type invoice vouchers, b) UM Benefits Administration, and c) UM Payroll, and d) other.
▪ MasterCard is the default version of the PCard. See next point on Visa P-card.
▪ ATM cash withdrawal function is turned on for foreign travel upon request.
▪ Concur provides exchange rates by date.
▪ Alternative to the MasterCard P-Card in countries that accept Visa but not MasterCard.
▪ Traveler that has is or is eligible for a P-Card must determine the need and request a Visa P-Card from Procurement Services before leaving on the trip.
- Lump Sum Advance
- Subject Fee Debit Cards
- Standard Practice Guide (Research Subject Fees)
- Visa/Mastercard branded debit cards for subject fees can be used in foreign countries. There may be fees.
- Cash Advance
Financial information for conducting research in foreign countries.
- Sponsored Research Compliance (IRB)
- Export Controls
- Funding for research out of the U.S.; funders’ grants/contracts and UM policy
- Research Subject Fees: See above section for SPG link
- Grant funding programs in foreign countries (specific rules that apply)
Information about getting contracts, agreements, and amendments approved as well as sharing computer software and hardware.
- Affiliation Agreements (Agreements Checklist and MOU)
- Sharing protected intelligent information (e.g.: computer software)
- Sharing protected hardware (e.g.: computer hardware)
- Vehicle use (Risk Management Office): When overseas and renting a vehicle on U-M business, please purchase the standard insurance from the rental car company in that country so that you can meet at least the minimum limits of insurance required in that country. In the event of an accident, you will need to follow the instructions from the rental car company.
- Rules about accepting or giving gifts
- Travel to U.S. sanctioned countries
- Translation Services: Contact the embassy in country traveling to for recommendation of a translator.