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Accounts Payable - Procurement Credit Card


Policy

Subject Area: Accounts Payable
Policy Title: Procurement Credit Card
Policy / Procedure No: A/P002
Responsible Office: Accounts Payable

PURPOSE: To establish a policy for using the Northeastern University Procurement Credit Card.

DEFINITIONS: Procurement Credit Card: A credit card issued to designated employees to facilitate small dollar purchasing transactions.

SCOPE: Applies to all Northeastern University employees to whom a Procurement Credit Card is issued and to their supervisors who are responsible for departmental spending.

POLICY:

1. All cardholders must sign and accept the terms and conditions of the Northeastern University Procurement Credit Card Cardholder Agreement. This document is located under the forms section of the Accounts Payable Home Page (http://www.neu.edu/ap/L2/forms/forms/proconfac.pdf).

2. All purchase transactions processed against a procurement credit card must be made by the individual to whom the card is issued.

3. When "University-Wide Agreements" exist, card holders must use those agreements when buying goods and services.

4. The procurement credit card cannot be used for those restricted goods and services identified in the Northeastern University Procurement Credit Card User Guide nor can the card be used for purchase transactions exceeding the designated transaction dollar limit.

5. Purchases are only for the use and benefit of the University. Personal purchases are not allowed.

6. Use of the procurement credit card will be governed by the Northeastern University Procurement Credit Card User Guide and the Procurement Credit Card Cardholder Agreement with respect to:

  1. maintaining documentation
  2. reporting the loss or theft of a card
  3. ensuring that the proper budget is charged
  4. resolution of disputed transactions

7. Violations of the Procurement Credit Card Policy will result in actions being taken in accordance with the procedures established in the Northeastern University Procurement Credit Card User Guide and the Procurement Credit Card Cardholder Agreement.