Purchasing Card Application / Agreement - Bank of America - Arkansas

Purchasing Card Application/Agreement - Bank of America is a legal document that was released by the Arkansas Department of Transformation and Shared Services - a government authority operating within Arkansas.

FAQ

Q: What is a Purchasing Card?
A: A Purchasing Card is a credit card issued by Bank of America specifically for making purchases on behalf of an organization.

Q: How can I apply for a Purchasing Card?
A: To apply for a Purchasing Card, you need to contact Bank of America and request an application form.

Q: What are the benefits of using a Purchasing Card?
A: Using a Purchasing Card can streamline the procurement process, track expenses more efficiently, and provide additional security.

Q: What is the Arkansas Purchasing Card Agreement?
A: The Arkansas Purchasing Card Agreement is a legally binding document that outlines the terms and conditions of using the Purchasing Card in the state of Arkansas.

Q: What are the responsibilities of the cardholder?
A: Cardholders are responsible for ensuring that all purchases made with the Purchasing Card comply with the organization's policies and procedures.

Q: What should I do if my Purchasing Card is lost or stolen?
A: If your Purchasing Card is lost or stolen, you should immediately report it to Bank of America to prevent unauthorized use.

Q: Can I use my Purchasing Card for personal expenses?
A: No, the Purchasing Card should only be used for official business expenses and not for personal purchases.

Q: How do I reconcile my Purchasing Card transactions?
A: Cardholders should review their monthly statement and reconcile their Purchasing Card transactions with supporting documentation.

Q: What happens if I misuse my Purchasing Card?
A: Misuse of the Purchasing Card can result in disciplinary actions, including termination of employment and legal consequences.