Corporate Credit Card Acknowledgement Form Template for United States

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Key Requirements PROMPT example:

Corporate Credit Card Acknowledgement Form

"Need a Corporate Credit Card Acknowledgement Form for our tech startup with 50 employees, focusing on international travel permissions and strict expense reporting requirements, with a specific clause about software subscriptions being allowed up to $5,000 per month."

Document background
The Corporate Credit Card Acknowledgement Form is a critical document used when companies issue corporate credit cards to employees. It has become increasingly important in the U.S. business environment as organizations seek to streamline expense management while maintaining control and compliance. The form addresses key aspects required by federal and state regulations, including expense reporting requirements, personal liability provisions, and security protocols. It serves multiple purposes: documenting the employee's understanding of card usage policies, establishing clear guidelines for permitted and prohibited uses, and protecting the company's interests in case of misuse or employment termination. The document typically includes specific references to relevant legislation such as the Truth in Lending Act and state labor laws, making it an essential tool for risk management and regulatory compliance in corporate card programs.
Suggested Sections

1. Employee Information: Basic details of the cardholder including name, employee ID, department

2. Card Details: Information about the corporate card including last 4 digits, credit limit

3. Authorized Use: Clear statement of permitted business uses of the card

4. Prohibited Uses: Explicit listing of unauthorized uses and purchases

5. Reporting Requirements: Procedures for expense reporting, receipt retention, and documentation

6. Cardholder Responsibilities: Security, safe-keeping, and proper usage obligations

7. Company Rights: Company's rights regarding monitoring, suspension, and termination

Optional Sections

1. Cash Advance Terms: Additional terms and conditions governing cash withdrawals when permitted by the company

2. International Use: Special provisions and requirements for international transactions and foreign travel expenses

3. Spending Limits: Detailed breakdown of transaction limits, monthly spending caps, and category-specific restrictions

Suggested Schedules

1. Schedule A - Expense Reporting Form: Standard template for submitting and documenting expenses

2. Schedule B - Permitted Merchant Categories: Comprehensive list of approved merchant category codes and business types

3. Schedule C - Emergency Contacts: List of relevant department contacts for lost/stolen cards and expense approval

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Industries

Truth in Lending Act (TILA): Federal law that protects consumers in credit transactions by requiring clear disclosure of key terms and costs in lending arrangements

Fair Credit Billing Act (FCBA): Federal law that protects consumers from unfair billing practices and provides mechanism for addressing billing errors

Credit CARD Act of 2009: Federal legislation that establishes fair and transparent practices for credit card accounts

Electronic Fund Transfer Act (EFTA): Federal law governing electronic fund transfers and establishing rights and responsibilities for cardholders

Fair Labor Standards Act (FLSA): Federal law that establishes standards for wage deductions and employment practices, relevant for corporate card repayment policies

IRS Regulations: Federal tax regulations governing business expense documentation, personal vs. business expense distinction, and accountable plan rules

CFPB Regulations: Consumer Financial Protection Bureau regulations protecting consumers in financial transactions

PCI DSS: Payment Card Industry Data Security Standard establishing requirements for secure handling of credit card data

State Labor Laws: State-specific regulations regarding wage deductions and employment practices that may affect corporate card policies

State Privacy Laws: State-specific regulations governing data protection and privacy requirements for financial information

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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