Purchasing Card Agreement Sample
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(Sample)
Memorandum of Understanding and Agreement
Between
Minnesota State University, Mankato
and
_______________________
This memorandum of understanding and agreement is between Minnesota State University, Mankato (hereinafter University) and, __________________, of Minnesota State University, Mankato.
Whereas, University has instituted, in cooperation with Wells Fargo Bank., a purchasing card program that will permit University purchases to be made directly from the vendor by the Employee using a credit card, and
Whereas, Employee desires to utilize this program and is willing to accept the responsibilities associated with participation in the program.
Therefore, it is agreed that the following terms and provisions will be adhered to when using the purchasing card.
- A purchasing card will be issued in the Employee’s name. Only the Employee whose name appears on 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 $1000 has been established. Multiple purchases of the same product from the same vendor on the same day that total more than $1000 is not permitted.
- Purchases shall be limited to materials, supplies (Object Code 3000).
- Written Prior approval from the MSU, Mankato Business Office Comptroller must be obtained to purchase desktop, notebook or laptop computers with a purchasing card. If approval to purchases computers is received, the item must be registered with the university’s fixed asset tracking system. Contact with comptroller via e-mail or phone.
- The following purchases using this card are not permitted: airline travel or other travel, automobile rentals, alcoholic beverages (bars, nightclubs, liquor stores, taverns), tobacco and tobacco products, entertainment, restaurants, lodging, personal service providers. This list is non inclusive.
- The Employee may purchase goods either in person at the vendor’s place of business, by telephone or via the web.
- 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.
- A statement of all transactions will be forwarded from the Business Affairs office to the Employee’s department on a weekly basis.
- Upon receipt of the statement, the Employee will sign and date the statement to confirm receipt of all goods and services, will attach the original detail receipts which correspond to the statement, attach any prior aproval forms/notifications pertaining to the purchases, and return to the Business Affairs Office within 5 business days. All purchases will be charged to the cost center that the individual purchasing card is attached to.
- The Employee will notify the Business Affairs Office (389-2269) if there are any discrepancies with any of the charges listed on the statement. The Employee, with the help of the Business Affairs Office, 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 University Office of Purchasing (389-5015) if the card is lost or stolen or in the hands of an unauthorized person. Pertinent information regarding the lost or stolen card or improper use must be provided. The Employee will make a reasonable attempt to recover the card from an unauthorized person. The card will be voided as quickly as possible; however, 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.
- If employment at the University is terminated, the Employee agrees to return the purchasing card to the Office of Purchasing 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
___________________________/ _________
Pur Card Administrator Date
Employee’s Fax No._______________
Employee E-Mail address____________________________
MSU Intracampus Address__________
Cardholder Supevisor ____________________________
Finance and Administration
April 2003
