Company Credit Card Policy

Company Credit Card Policy

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Scope

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This policy affects all employees who are employed by The Vets Sales and Support Department that are authorized to use a company credit card (CC).

Policy Elements:

The purpose of this company credit card policy is to (a) outline the eligibility and authorization procedures, (b) define the limitations and exceptions, and (c) to explain the card violations and disciplinary action process.

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Authorization:

The Vets CC is only available to authorized personnel, namely the Director of Sales, Office Manager, and Regional Manager(s). The Director of Sales reserves the right to release a company credit card to any employee(s), depending on the circumstances, necessary documentation, and company-related expenses.

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Conditions of Use:

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• The Vets reserves the right to release and withdraw the company credit card any time, with or without cause.
• The Vets’ credit card should only be used for company-related expenses and for purposes relating to the employee’s job commitments.
• The company credit card cannot be used to receive cash advances, bank checks, traveler's checks, and/or electronic cash transfers.
• An employee in possession of the company credit card must take full responsibility for all purchases made on the card and track all expense receipts.
• An employee in possession of the company credit card is prohibited from giving the card to unauthorized individuals and/or employees, including fellow employees.
• The Vets credit cards cannot be used for personal expenses.
• The Director of Sales and/or Office Manager reserves the right to view monthly credit card statements, with or without cause.
• Each transaction made with the company credit card must be reported to the finance department (PayEm) within 30 Days after the purchase.
• Violation of this policy can lead to disciplinary action, up to and including termination.

Exceptions:

The Vets recognizes that each case is different and an employee may require additional fees, depending on his/her department, frequency of use, and case-specific circumstances. Therefore, employees have the right to apply for an exception but will need to explain the reasoning for the additional purchase. Each purchase that exceeds the limit must be first approved by the Finance Manager and/or Director of Sales.

Disputed Transactions:

In the event that an employee disputes a charge made on the company credit card while in his/her possession, the issue must be brought to management's attention immediately. All disputed transactions must be resolved by the supplier, finance department, and bank. It is the cardholder's responsibility to obtain and file all proof of payment documentation with the finance department.

Disciplinary Action:

If an employee violates the terms and conditions of this policy, he/she will be subject to disciplinary action, up to and including termination. Violations of this policy include:

• Using the company CC for personal, illegal, and/or unauthorized expenses
• Giving the Company CC to unauthorized personnel without notifying management
• Failure to report expenses in a timely manner

Depending on the severity and frequency of each employee’s policy violation, he/she could face a written warning, possible suspension, and/or termination. Each violation must be thoroughly investigated by the finance department and Human Resources (HR) department.

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