A Corporate Credit Card Agreement Template is a legally binding document that outlines the terms and conditions governing the use of a corporate credit card by an employee or authorized representative of a company. This template serves as a contract between the company and the credit card issuer, ensuring that both parties understand their rights and responsibilities.
Essential Elements of a Corporate Credit Card Agreement Template
How to Create a Corporate Credit Card Policy [+Free Template]
A well-structured Corporate Credit Card Agreement Template should include the following essential elements:
1. Identification of Parties:
Clearly state the names and addresses of the company and the credit card issuer.
Specify the authorized representative of the company who will be signing the agreement.
2. Cardholder Information:
Provide a section for the cardholder’s name, position, and department within the company.
Include a space for the cardholder’s signature and date.
3. Credit Limit and Interest Rate:
Clearly define the credit limit assigned to the corporate credit card.
Specify the interest rate that will be applied to any outstanding balance.
Indicate if there are any annual fees or other charges associated with the card.
4. Authorized Users:
Determine if there are any additional individuals authorized to use the corporate credit card.
If so, list their names and positions within the company.
5. Permissible Use:
Outline the specific purposes for which the corporate credit card can be used.
This may include business expenses such as travel, meals, and supplies.
6. Payment Terms:
Specify the due date for monthly payments.
Indicate the consequences of late payments, such as late fees or interest charges.
7. Dispute Resolution:
Establish a procedure for resolving disputes between the company and the credit card issuer.
This may involve mediation, arbitration, or litigation.