Corporate Credit Card Policy
I. OVERVIEW
This Corporate Credit Card Policy sets forth the Company guidelines that will be applied to all employees who are issued a corporate credit card. This policy conveys company expectations and procedures for the issuance, application, use, safeguarding, payment, and termination of the corporate credit card issued to Caring Hands Transport, LLC’s employees. This policy will be effective as of July 28, 2015. Cardholders and their supervisors are responsible for ensuring that they adhere to this Corporate Credit Card Policy, thereby taking appropriate measures to minimize the risk of fraudulent or corrupt credit card use. The corporate credit card is meant to allow employees access to efficient, flexible, and alternative means of payment for approved expenses.
II. ELIGIBILITY & APPROVAL
1. ELIGIBILITY. Caring Hands Transport, LLC maintains a corporate credit card program for full-time and temporary employees who will regularly incur business expenses. In order to be eligible, the employee must travel frequently in the course of his/her duties, travel overseas in the course of his/her duties, purchase significant volumes on minor goods and services for use by the company, or frequently incur other business-related expenses of a kind appropriately paid by credit card.
2. APPROVAL. Eligible employees as designated by Caring Hands Transport, LLC, should contact Accounts Payable, the Plan Administrator, who will handle all arrangements for obtaining corporate credit cards. Based on the needs of the business, Caring Hands Transport, LLC will offer eligible employees a corporate credit card to use for approved expenses.
III. PROCEDURES & POLICY
3. USE AND FINANCIAL RESPONSIBILITIES. The employee agrees to comply with all the applicable policies and procedures of Caring Hands Transport, LLC and this Corporate Credit Card Policy. The corporate credit card is to be used ONLY for official business expenditures, not personal expenses. The cardholder is responsible for ensuring that the credit card purchases are within budget and properly approved. Caring Hands Transport, LLC will pay for the total balance by the payment due date each month for each company-approved charge by the cardholder.
4. CREDIT SPENDING LIMITS. The credit limit has yet to be determined.
5. RECEIPTS AND EXPENSE REPORTS. Cardholders must maintain physical proof of each credit transaction with the corporate card and provide an itemized receipt when practicable. A failure to provide receipts or credible explanation for any transactions could result in a debit from the Cardholder’s salary, forfeiture of right of reimbursement, and other disciplinary action. Credible transactions should contain the following information when appropriate: date of purchase, vendor name and address, quantity, unit price, grand total of expenditures. When applicable, written notation should supplement the receipts with the following information: the business purpose and names of persons in attendance, including their professional titles or affiliation. Expenses must be submitted to Management within thirty (30) days from the time expense was incurred. Expense reports submitted outside of this time frame will not be reimbursed.
6. CREDIT CARD VIOLATIONS AND CONSEQUENCES. Credit Card Violations may include, but are not limited to, obtaining cash advances or for other expenses than those incurred by the assigned employee named on the card, charging personal transactions to the corporate credit card, allowing unauthorized users to use the corporate credit card, exceeding the credit card limit, failing to promptly return the credit card when a cardholder is reassigned, terminated, or any terms determined at the discretion of Caring Hands Transport, LLC. Cardholder transactions will be scrutinized to ensure compliance with this policy. Infractions of the conditions of this policy, or to any Caring Hands Transport, LLC policy that may apply to this Corporate Credit Card policy, could result in cancellation of the card and withdrawal of corporate credit card privileges. Breaching of this policy may result in disciplinary action against the employee up to and including termination. In all cases of breach, Caring Hands Transport, LLC will consider the facts and circumstances of each incident, and will take action as deemed appropriate. Caring Hands Transport, LLC reserves the right to recover any monetary considerations from the cardholder. Internal and external audits of cardholder purchases may be carried out from time to time at the discretion of Caring Hands Transport, LLC.
7. OWNERSHIP AND CANCELLATION OF THE CREDIT CARD. The corporate credit card may not be transferred, assigned to, or used by anyone other than the designated cardholder. The cardholder is accountable for all activity on the corporate credit card. Caring Hands Transport, LLC may suspend or cancel cardholder privileges at any time for any reason. The cardholder will forfeit the credit card upon request to Caring Hands Transport, LLC or any authorized agent of the card issuer. The credit card will be returned to Caring Hands Transport, LLC upon any notification of resignation and the cardholder must reconcile all expenditures on the credit card since the last credit card Statement. It is the responsibility of the departing cardholder to ensure that the account is settled prior to departure.
8. DISPUTED ITEMS. It is the cardholder’s responsibility to follow-up on any erroneous charges, returns, or adjustments to ensure proper credit is given on subsequent statements. Disputed transactions must be resolved with the card issuer and the bank by the cardholder. The Cardholder must notify the bank immediately for resolution and the appropriate agent at Caring Hands Transport, LLC should be informed as well.
9. PROTECTING THE CREDIT CARD. Lost or stolen cards must be reported immediately to the appropriate agent at Caring Hands Transport, LLC. The appropriate agent must be notified within two (2) business days of this activity, or in the instance of loss or theft while conducting business overseas, must be notified within two (2) business days of returning to the official place of business.
10. SAFEKEEPING. Newly issued cards should be signed immediately by the cardholder upon receipt. When using the card for approved internet transactions, care should be taken that the site utilizes recognized encryption technology. Card numbers should not be saved or stored in online accounts. When the corporate credit card has expired and/or cardholder has received a new corporate credit card, the cardholder should cut the card in half and discard it. Cardholder should make certain that the card is returned after each charge and verify that name on the back of the card.
11. CONTACT INFORMATION. For any issues, comments, or questions regarding this Corporate Credit Card Policy, please contact Caring Hands Transport, LLC at 886 East 78th Avenue, Denver, CO 80229 at cs@caringhandstransport.net.