Cardholder Purchasing Card Agreement - Vermont

Cardholder Purchasing Card Agreement is a legal document that was released by the Vermont Department of Buildings and General Services - a government authority operating within Vermont.

FAQ

Q: What is a Cardholder Purchasing Card Agreement?A: A Cardholder Purchasing Card Agreement is a legal agreement between the cardholder and the issuer of the purchasing card, outlining the terms and conditions of use.

Q: What is a purchasing card?A: A purchasing card is a payment card issued to authorized employees of a company or organization, which allows them to make purchases on behalf of the company.

Q: What are the benefits of using a purchasing card?A: Using a purchasing card can streamline the procurement process, provide increased control and visibility over expenses, and offer potential cost savings.

Q: What are the responsibilities of the cardholder?A: The cardholder is responsible for using the purchasing card only for authorized purchases, maintaining accurate records, and complying with the terms and conditions outlined in the agreement.

Q: Can the cardholder use the purchasing card for personal expenses?A: No, the purchasing card should only be used for company-related purchases and not for personal expenses.

Q: What should the cardholder do if the purchasing card is lost or stolen?A: The cardholder should immediately report the loss or theft to the issuer of the purchasing card to minimize any potential fraudulent charges.

Q: What happens if the cardholder breaches the terms of the agreement?A: Breach of the Cardholder Purchasing Card Agreement may result in disciplinary action, loss of the cardholder's purchasing card privileges, and potential liability for any unauthorized charges.

Q: Is the agreement applicable only in Vermont?A: No, the agreement is applicable in Vermont but may also be relevant in other states depending on the issuer and the organization's operations.