PURCHASING PROCEDURES - University of Central Lancashire
PURCHASING PROCEDURES - University of Central Lancashire
PURCHASING PROCEDURES - University of Central Lancashire
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1. Overview<br />
The Corporate Card was introduced to enable frequent travellers to pay for expenses incurred<br />
whilst on <strong>University</strong> business expenses such as travel arrangements (where the Travel Office<br />
are unable to arrange credit for hotels or other expenses), entertaining guests and purchasing<br />
fuel.<br />
The <strong>University</strong> currently uses a Corporate Card issued by Company Barclaycard, which is a<br />
VISA credit card. Cards are embossed with:<br />
the <strong>University</strong>‟s name<br />
the cardholder‟s name<br />
the expiry date<br />
the card number<br />
(also supplied is an individual pin number)<br />
The Corporate Card reduces the need to request either cheque or cash advances, saving time<br />
and money and easing cash flow. It should also mean less frequent need for reimbursement<br />
via the Cashiers Office for <strong>University</strong> business expenditure. A further benefit is that the<br />
<strong>University</strong> does not have to pay immediately for the transactions undertaken and can obtain<br />
up to 33 days <strong>of</strong> interest free credit.<br />
Security is improved due to the reduction in cash handling and the fact that guarantee card<br />
payment reduces financial risk.<br />
The Card is accepted in over 400,000 UK outlets, 10 million world-wide.<br />
Cardholders benefit from free travel accident insurance where the card is used as the method<br />
<strong>of</strong> payment.<br />
Procedures and regulations for the use <strong>of</strong> the Corporate Card and its limitations are contained<br />
in the following procedure and guidance notes.<br />
The Purchasing Office will provide the details <strong>of</strong> all cardholders to SMT on a quarterly<br />
basis. All cardholders will be subject to Financial Regulations <strong>of</strong> the <strong>University</strong> <strong>of</strong><br />
<strong>Central</strong> <strong>Lancashire</strong> and the following procedures and regulations will form part <strong>of</strong><br />
these Financial Regulations. Failure to adhere to these regulations may result in<br />
disciplinary action and cancellation <strong>of</strong> the card.<br />
Purchasing Procedures December 2011