Purchasing Credit Card Policy:
To obtain a purchasing card, complete the credit card request form and return it to the Office of Financial and Administration located on the second floor of Hamilton hall.
Centenary College of Louisiana (“Company”) has entered into an agreement with Capital One (“Bank”) that provides qualified employees with a Purchasing Card to purchase low cost materials and services. Using the Purchasing Card benefits the Company and Cardholder through:
Promptly paying our supplies
Reducing overall processing costs
Decentralizing purchasing responsibility
The policies contained in this agreement, as well as, any verbal communication with administration pertaining to the program must be followed by the Cardholders as guidelines for conducting Company business. Policy violations will result in revocation of Cardholder privileges and possible disciplinary action.
General Policy Guidelines:
Card member Definitions: Purchasing Cards are issued at the discretion of the Company to qualified employees.
Ownership and Cancellation of the Purchasing Card: The Purchasing Card remains the property of the Bank. It may not be transferred to, assigned to, or used by anyone other than the designated Cardholder. The Bank or the company may suspend or cancel Cardholder privileges at any time for any reason. The Cardholder will surrender the Purchasing Card upon request. Use of the Purchasing Card or account after notice of its cancellation may be fraudulent and may cause the Bank to take legal action against you.
Spending Limits: Each Purchasing Card has a present spending limit that may not be exceeded. The Purchasing Card should be used whenever and wherever possible for charging low cost materials and selected services (including shipping, handling, and tax).
Purchasing Card Abuse: Abuse of the Purchasing Card may result in revocation of the Card and appropriate disciplinary action including termination. Policy violations include, but are not limited to:
Purchasing items for personal use
Failure to return the Purchasing Card when reassigned, terminated, or upon request
Failure to submit proper documentation to Accounts Payable
NO PERSONAL EXPESNES ARE TO BE CHARGED TO THE PURCHASING CARD.
It is the Cardholder’s responsibility to obtain transaction receipts from the merchant or vendor each time the Purchasing Card is used. These receipts must show the sales tax charged as a separate line item. Each month, the Cardholder will receive an activity report. Individual transaction receipts are to be attached to this monthly activity report and submitted to Accounts Payable no later than the 20th for payment.
It is the Cardholder’s responsibility to follow-up on any erroneous charges, returns or adjustments and to ensure proper credit is given on subsequent statements. Accounts Payable will assist in handling dispute resolutions.
Protecting the Purchasing Card:
The Purchasing Card is valuable property that requires proper treatment by the Cardholder to protect it from misuse by unauthorized parties.
Sign the Purchasing Card immediately upon receipt. When the expiration date is passed and/or after you have received a new Purchasing Card, cut the old Purchasing Card in half and dispose of it. Make sure the Purchasing Card is returned to you after each charge and verify that the returned Card has your name on it. Carbon sheets should be retained and destroyed.
Lost/Stolen Purchasing Cards:
If the Purchasing Card is lost or stolen, contact the Bank’s 24-hour toll-free number at (800) 797-4282. The Cardholder is also required to contact Nikki Holmes (Accounts Payable) at 869-5126.
For more information, please review the Credit Card Policy.