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Purchasing Card Agreement Sample
Minnesota State University, Mankato Purchasing Card
Minnesota State University, Mankato is pleased to present you with an MSU Purchasing card. It represents Minnesota State University, Mankato s confidence in you as a responsible state employee of this institution, entrusted to safeguard and protect Minnesota State University Mankato assets. The card is provided to you based on your need to purchase items on behalf of the university. As the cardholder, I hereby acknowledge receipt of a purchasing card issued thru Wells Fargo. The card number is _______________________. As a cardholder, I agree to the following conditions regarding my use of the Minnesota State University Purchasing card.
Therefore, it is agreed that the following terms and provisions will be adhered to when using the purchasing card.
- A purchasing card can be issued in the Employee s name and or Program. Only the Employee assigned to the card is authorized to use that card. The Employee shall be responsible for keeping the card in a secured location to prevent unauthorized use.
- A maximum per transaction limit of $_______has been established. Multiple purchases of the same product from the same vendor on the same day that total more than the maximum per transaction limit are not permitted (Pyramiding).
- Purchases shall be limited to items pertaining to your department/ business program needs. This can include: materials and supplies, memberships, subscriptions, software licenses, rentals, advertising, maintenance agreements and minor repairs. With the necessary university written prior approvals (cs1404) cardholder airfare, conference registration fees and actual hotel room/lodging expense may be permitted for the cardholder- however no prepayments. No purchasing of individual meals-restaurants-food.
- Purchasing of high theft or sensitive items, such as desktops, notebook and laptop computers, iPads, etc, is not permitted. These types of items must be inventoried and tagged as an MSU asset regardless of price, prior to being circulated. They must also meet the minimum MSU technology standards for continued support of the item. (note-these types of items should be purchased thru the Campus Computer Store or via an MSU Purchase order)
- The following purchases using this card are also not permitted: individual meals-restaurants-food, alcoholic beverages (bars, nightclubs, liquor stores, taverns), tobacco and tobacco products, weapons of any kind, fuel/gas, entertainment, tips, personal service providers. This list is non inclusive. Hotel lodging limited to room and tax only. No prepayments to hotels.
- The Employee may purchase goods either in person at the vendor s place of business, by telephone or via the web. Prior approvals must be obtained for all special expense items.
- The Employee will request a copy of the vendor s sales receipt or cash register slip if over the counter, or a packing list on shipped orders as well as the credit card slip. The Employee s individual purchasing card number must be given for all orders processed, and specific delivery instructions must be provided to the vendor. The purchased goods may be delivered directly to the department or shipped to the MSU Receiving Room depending on the Employee s preference. Certification sheets are not an acceptable means of providing a receipt. Duplicate receipts will be accepted from the vendor.
- On a Biweekly basis, the Program administrator in cooperation with Wells Fargo, sends an email to the cardholder advising them that a transaction reconciliation needs to be completed.
- Upon receipt of the email, the Employee will access the on-line Wells Fargo website, confirm receipt of all goods and services, provide the business purpose, allocate the costs to the correct cost center and object code, attach the original detail receipts that correspond to the statement, attach any prior approval or special expense forms/notifications pertaining to the purchases, sign the reconciliation form and forward to their approver. The approver will review and sign the reconciliation authorizing payment and forward completed reconciliation to Business Services within 5 business days
- The Employee will notify Business Services (389-2269) if there are any discrepancies with any of the charges listed on the statement. The Employee, with the help of the program administrator, will settle any billing discrepancies with the vendor and instruct the vendor to issue a credit through the credit card.
- The Employee will immediately notify the credit card company and the Program administrator if the card is lost or stolen. Pertinent information regarding the lost or stolen card or improper use must be provided. The applicable cost center will be responsible for any unauthorized purchases made up to the limit of liability as prescribed by Well s Fargo Bank until charges have been disputed and resolved.
- If employment at the University is terminated or employee responsibilities change, the Employee agrees to return the purchasing card to the program administrator immediately.
- The University is exempt from paying state sales tax on supplies. When purchasing goods, the Employee agrees to notify vendor so that the tax is not added to the sale.
It is understood that use of the purchasing card is a privilege and that the University s Office of Purchasing may revoke or suspend purchasing card privileges without prior notice if the terms and conditions of this agreement or any amendments to the agreement are violated. This purchasing card is the property of Minnesota State University, Mankato and is not to be used for personal transactions under any circumstances regardless of reimbursement to the University. Using the card for personal use will automatically revoke the card privilege and subject the Employee to disciplinary action, including reimbursement of all personal charges. All charges that are not authorized and approved by the University will be the responsibility of the Employee to whom the card is issued. The Employee agrees that all unauthorized charges will be repayable within two pay periods following the unauthorized purchase. If the charges are not repaid within this time limit, the Employee authorizes the University to deduct, from his/her paycheck, the outstanding charges in four equal amounts in four consecutive pay periods following the two pay period grace period.
I acknowledge that I have read, understand and agree to the terms and provisions of this Memorandum of Understanding.
Employee/cardholder Date Purchasing Card Administrator Date
Purchasing Card Admin 07/11