Purchases are limited to $500 or less for the total transaction.

The Commercial Card is NOT to be used for:

Under no circumstances should a transaction be split into two separate receipts to bypass the single transaction dollar limit.

Each card will have a maximum amount per billing cycle.  This amount is determined by your department need with approval from your supervisor.  Once set, the card will reject purchases for amounts greater than the limit.  Limits may be changed by processing the change form with your Commercial Card Administrator/Accounts Payable. Limit changes require the written approval of your supervisor.

Purchases within the approved parameters are initiated using your assigned card. Contact the supplier and agree to price, quantity, sales tax/exempt and delivery date.   It is required at the time of purchase that you receive an original detail receipt showing amounts paid for the purchases.  If the purchase is via phone or mail, ask the supplier to include the original receipt with the goods when the product is shipped to you. The Cardholder's name and "MasterCard" must appear on the packing slip and external shipping label.  The supplier will require your Commercial Card number, expiration date and the "ship to" address as well as the sales tax exemption number.

It is required that you retain ALL ORIGINAL DETAIL receipts for your purchases.  

Commercial Card Abuse:  Abuse of the Commercial Card may result in revocation of the Card and appropriate disciplinary action which may include termination of employment.  Policy violations include, but are not limited to:

Purchases of goods or services from an entity with which the cardholder or cardholders’ immediate family has more than a 5% interest must be disclosed to the supervisor and/or the Vice President for Finance and approved prior to making a purchase.

State sales tax is exempt on purchases in TN. The TN state sales tax number is shown on the purchase card. We also have sales tax exemptions in the states of MS, KY and FL.  Please contact accounts payable for those tax exemption certificates before purchasing in those states.

Monthly, each cardholder will receive a statement(s) (cycle cut-off date is the 4th of each month) identifying each transaction made against the Commercial Card during the billing cycle.  The statement must be reconciled against your retained receipts for accuracy.

A Monthly Transaction Log must be used as a tool to help maintain purchase information and to help reconcile your account(s).  This Log is mandatory for all users.  This form is located on the P-Drive in the Purchase Card folder and in the file named PCard Transaction Log.  All receipts must be securely taped to an 8 ½  x 11 blank sheet of paper in date order.  

The statement and monthly transaction log (with attached receipts) must be signed by the cardholder as proof of reconcilement and then forwarded to your supervisor for approval.  After proper approval the following should be forwarded to the Accounts Payable Department:  (1) the original monthly statement with proper approvals; (2) the Transaction Log (3) the original receipts.  A standard envelope may be used for monthly filing of the statement and receipts and may be sent via campus mail or US mail to the attention of accounts payable.  Each account must be reconciled and sent to Accounts Payable by the 15th of the subsequent month.

In the case of an error, first contact the supplier and try to reach an agreement.  Most disputes can be resolved between you and the supplier directly.

If you are unable to reach an agreement with the supplier, complete a Dispute Form (located on the P-Drive in the Purchase Card folder and in a file named PCard Dispute Form), sign it and send it to Accounts Payable.  Accounts Payable will send to JP Morgan Chase. All disputes must be submitted in writing to Accounts Payable within 45 days.

The Commercial Card is a corporate pay arrangement.  Account balances will be paid in full each month by a direct charge to a Cumberland University bank account.

Your purchases will be charged to your advance account until your monthly reconciliation of your account along with approved original detail receipts is received. Monthly charges that are not approved are subject to become your personal responsibility via payroll deduction.

The Commercial Card(s) should be secured, just as you would secure your personal credit cards.  If your card(s) is lost or has been stolen, immediately contact JP Morgan Chase via this toll free number (1-800-316-6056).  Also notify Accounts Payable, Ext. 1163 immediately via voice mail.

Should you be declined at the point of sale for any reason, please contact Accounts Payable during regular business hours. If your card is declined after business hours and you must use it before regular business hours resume, you may contact the Vice President for Finance at 308-7731. Every effort will be made to determine why the transaction was declined.

If you transfer to a new department or leave the University, notify Accounts Payable immediately.

Your card activity is subject to random audits by appropriate personnel, including our external Auditors.  The random audits are to help ensure adherence to the Program's policies and procedures.

Merchants are to be encouraged to become involved in the Commercial Card Program so that you can use the Program most effectively.  Merchants may contact their local bank or financial institution to become credit card capable. For those merchants that are unwilling to participate in the Program, alternative sources should be found.  You may also contact Accounts Payable with any merchants you would like to accept the card.