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Purchasing Card Program

Parties Involved

Agency - Francis Marion University, which issues cards to approved employees and accepts liability for use.

Cardholder - an employee of the university approved by his/her department head to execute transactions on behalf of the university. Before receiving a card, the Cardholder must attend a training session and sign a Cardholder Agreement at card issuance. Signing this agreement indicates understanding of the program and intended compliance with all guidelines of this manual.

Card Issuer - Bank of America, contracted by the State of South Carolina to issue Purchasing Cards, to bill the university for all purchases, and to collect payment on behalf of the vendors.

Department Head - University official who approves requests for a Purchasing Card, delegates transaction authority to the Cardholder, and oversight / budgetary responsibilities to the Departmental Liaison.

Departmental Liaison - a departmental employee responsible for administrative review of cardholder activity, records retention, and budgetary oversight. Each Cardholder will be assigned a Liaison to be responsible for reviewing transactions of individual Departmental Cardholders to insure that transactions are appropriate.

Purchasing Card Program Administrator - the central coordinator who administers the card program for the university and acts as intermediary with the card issuer.

Vendor - the merchant from whom a Cardholder is making a purchase.

 

 

Last Published: August 18, 2006 3:52 PM
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