A person or organization not automatically included as an insured under an insurance policy, but for whom insured status is arranged, usually by endorsement (typically to comply with a contractual agreement requiring the named insured to do). As a state agency, VCU is not permitted to add other entities as additional insures to the Commonwealth’s self-insurance coverage
An Authorized Approver is an employee delegated the authority by the responsible Dean, Vice President, or as otherwise stipulated by policy or procedure. Approvals should always move up the chain of command from the payee, not down, to prevent a subordinate approving a supervisor's expense.
The place, office or building where the traveler performs their duties on a routine basis
Bank of America
Best Value Acquisition
Certificate of Insurance
A document providing evidence that certain types of insurance coverage and limits have been purchased by the party required to furnish the certificate.
Collision Damage Waiver (CDW)
Also referred to as a loss damage waiver, an agreement with an auto rental company that releases the renter from liability for physical damage to the rental vehicle for a fee.
The round-trip mileage traveled routinely by the employee between his residence and base point
Email address used to contact the program administrators regarding P-card program
The amount of money on your purchasing card account that you are able to spend during each billing cycle
Federal U.S. Department of Transportation’s Disadvantaged Business Enterprise program
A portion of a covered loss that is not paid by the insurer. This amount is subtracted from the amount of the insurance recovery.
Virginia Department of Small Business and Supplier Diversity
Web-based purchasing system used by the state of Virginia
Provides liability coverage for the sponsor of public or private events, such as concerts, festivals, conferences, trade shows, sporting events, etc.
A provision of an insurance policy or bond referring to hazards, perils, circumstances or property not covered by the policy.
Independent Contractor Agreement
Invitation for Bids
Travel to all areas outside of the 48 contiguous U.S. states, Alaska and Hawaii
Any legally enforceable obligation. Within the context of insurance, the obligation to pay a monetary award for injury or damage caused by one’s negligent or statutorily prohibited action.
Metropolitan Business League
National Association of Women Business Owners
The failure to use a degree of care considered reasonable under a given set of circumstances. Acts of either omission or commission, or both, may constitute negligence
Any individual who is not employed by the state who is conducting state business, including a member of any board or commission
The area within a 25-mile radius of an employee’s base point
Rates that include all locations outside of the state of Virginia
Over the Counter (Point of Sale) Transaction
A transaction where your card is physically swiped through a vendor’s credit card processor
Paymode-X is offered by Bank of America, and it replaces paper checks by electronically depositing payments directly into a designated bank account via ACH (Automated Clearing House).
Corporate Purchasing Card
VCU Corporate Charge Card Program Administrators
Commercially scheduled airline, rail, bus or taxi (when necessary)
A small dollar method of purchase
The University's procure to pay system
Individual responsible for reviewing and signing off on a cardholder’s monthly reconciliation
Request for Proposals
The process of making and implementing decisions that will minimize the adverse effects of losses on an organization.
Any elected, appointed, classified or non-classified employee of the Commonwealth of Virginia
Any funds deposited with the treasurer, whether derived from appropriation or from agency receipts
Small, Women-Owned and Minority-Owned Business
Tax Identification Number
The maximum amount of money that may be spent on an individual transaction
Travel outside of an employee’s official station
Unique vendor identification number in Banner
The Virginia Asian Chamber of Commerce
Virginia Association of State College and University Purchasing Professionals
Virginia Correctional Enterprises
Vendor Registration (Substitute W-9) Form
The surrender of a right or privilege
The name of Bank of America’s online credit card management system