This disbursement authorization policy establishes clear approval levels for binding commitments of a company, whether oral or in writing. It applies to substantively new standard sales/service contract templates or material substantive changes to an existing template. It also details the authorization limits for primary banks (including wires, ACHs and checks) and secondary banks.

In this sample, payment packages to be paid via wire transfer are assembled and audited by the accounts payable department prior to any payment being made. When auditing, the reviewer will confirm that there is a three-way match for product purchases and a two-way match for purchases of services. All wire transactions must be approved by two approvers.