The Employee Credit Card Agreement is essential for organizations operating in the Philippines that provide corporate credit cards to their employees for business-related expenses. This document becomes necessary when companies need to establish clear guidelines for corporate credit card usage while ensuring compliance with Philippine banking regulations, including BSP Circular No. 1048 and the Access Devices Regulation Act. It protects both employer and employee interests by clearly defining authorized usage, spending limits, reporting requirements, and liability terms. The agreement typically includes provisions for expense documentation, card security measures, and procedures for card cancellation or employee separation, all while adhering to Philippine data privacy laws and banking regulations.
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1. Parties: Identifies the employer/company and the employee who will be the cardholder
2. Background: Explains the context of providing a corporate credit card to the employee
3. Definitions: Defines key terms used throughout the agreement
4. Card Issuance and Purpose: Details about the credit card, its purpose, and conditions of issuance
5. Credit Limit and Usage: Specifies the credit limit and authorized uses of the card
6. Employee Obligations: Details the employee's responsibilities regarding card use, security, and expense reporting
7. Prohibited Uses: Lists specifically prohibited transactions and activities
8. Expense Reporting and Documentation: Procedures for submitting expense reports and required supporting documentation
9. Payment Terms: Details about payment processing, reimbursement procedures, and handling of unauthorized charges
10. Security and Safekeeping: Requirements for securing the card and reporting lost/stolen cards
11. Termination: Conditions and procedures for termination of card privileges
12. Data Privacy and Confidentiality: Provisions regarding the handling of personal and financial data
13. Governing Law: Specifies that the agreement is governed by Philippine law
1. Cash Advances: Include when the company allows cash advances on the corporate card
2. International Usage: Include when the card may be used for international transactions
3. Rewards Program: Include when addressing the ownership and use of credit card rewards points
4. Shared Card Provisions: Include when the card may be used by multiple authorized employees
5. Department-Specific Policies: Include when different departments have different usage policies or limits
6. Integration with Expense Management Systems: Include when the company uses specific expense management software
1. Schedule A - Authorized Usage Categories: Detailed list of approved expense categories and spending limits
2. Schedule B - Expense Reporting Procedures: Step-by-step procedures for submitting and documenting expenses
3. Schedule C - Cardholder Acknowledgment Form: Form for employee signature acknowledging receipt and terms of card use
4. Appendix 1 - Company Credit Card Policy: Complete company policy regarding corporate credit card usage
5. Appendix 2 - Emergency Contact Information: Contact details for reporting lost/stolen cards and emergency assistance
6. Appendix 3 - Expense Report Templates: Standard forms for expense reporting and reconciliation
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