WSB Policy: Corporate Credit Card

1.    Introduction:

The World Scout Bureau aims to limit cash transactions as much as possible in line with good financial practices for organizations. Corporate Credit Cards (hereinafter “Corporate Card”) are issued for payments on behalf of the World Scout Bureau which are generally related to travel and other expenses needed in compliance with all other relevant rules and procedures of the World Scout Bureau.

2.    Purpose:

The purpose of this policy is to ensure that World Scout Bureau’s Corporate Cards are used for appropriate business purposes only and that adequate controls are established for its usage.

3.    Scope

This policy applies to all holders of Corporate Cards issued by any of the Global Support Centre of the World Scout Bureau.

4.    Eligibility

Corporate Cards are issued to all members of the Senior Management Team (SMT) and employees where the nature of their job requires such use, subject to approval of the Secretary General.

Preset credit limit for each card is decided at the discretion of Secretary General.

5.    Usages:

The World Scout Bureau’s Corporate Cards must be used by the cardholders only for official business activities such as travel related payments, hospitality expenses, registration fees.

Cardholders may use the Corporate Card for the purchase of other goods and services associated with official business activities as approved by the respective Global Director or Regional Director. The Secretary General approves for the Senior Management Team members

Corporate Cards must not be used without pre-authorization for:

• Personal expenses
• Capital asset acquisitions
• Contractor payments
• Repetitive procurement which could be set up as a purchase order
• Purchase of air tickets unless approved by appropriate line manager in accordance to the travel policy
• Payment of fines and penalties
• Any Cash withdrawal is prohibited unless approved in advance by the Global Director/ Secretary General or for business emergency.

6.    Responsibilities:

1. The Secretary General
   • Approves issuing Corporate Credit Card for Senior Management Team and employees where the nature of their job requires one.
   • Approves any exception of the Corporate Card usage
   • Approves all requests to increase Corporate Card limits
2. Employees issued with a corporate credit card are responsible for:
   • safeguarding the Corporate Cards
   • ensuring the cards are used only for appropriate business expenses
   • retaining receipts and providing explanations for all card transactions
   • submitting a complete and approved Corporate Card expense report to the Finance Team on or before the 15^th day of each month
   • reporting immediately to the bank and Finance Team any potential unauthorized transactions booked to the Corporate Card or the loss of the Corporate Card
   • returning the Corporate Credit Card to Finance Team upon the end of service at the World Scout Bureau
3. The SMT member of the team whom the cardholder reports to is responsible for:
   • reviewing and approving Corporate Card invoices of staff members on a timely basis
   • identifying and requesting any credit or transaction level limits required for individual cards
4. Finance department is responsible for:
   • applying for Corporate Cards to the bank and apply the approved credit limit for each Corporate Card
   • ensuring that all Corporate Card transactions are properly approved
   • ensuring timely settlement of Corporate Cards statements
   • ensuring correct coding and appropriate payments are being made
   • requesting to the bank temporary credit limit increase, if and when necessary and approved
   • collecting and cancelling the Corporate Cards from employees upon the expiry of their employment at the World Scout Bureau

7.    Corporate Credit Cards Statement Payment Procedures:

At the end of each month, corporate cardholders must review the monthly statement of the Corporate Card.

1. The responsibility for reconciling the statement to corresponding receipts rests with cardholders. Based on the monthly statement, cardholders are required to complete the Corporate Card Expense Report (Appendix 2) with references to account code and supporting documentation for each charged item in the statement.
2. Cardholders must ensure that their Corporate Cards Expense Report are submitted before and no later than the 15^th day of the month and that the appropriate original documents, including receipts or invoices, are provided. Digital copies are accepted. Staff members who might be on travel, are encouraged to submit electronically to meet submission
3. All Corporate Card expenses must be properly documented, with the related purpose clearly stated, the charge code, and the documentation must be made available when submitting to Finance Team.
4. The Expense Report must be approved by the cardholder’s SMT member before submitting to the Finance Department.
5. The approving SMT member must validate and confirm that all the charges are justified and appropriate before approving the Corporate Card Expense Report for payment.
6. Finance Department shall verify the authorization and schedule the Corporate Card payment according to the terms of the Corporate Card contract, and by all means avoid unnecessary late payment charges.
7. Extra charges resulting in from cardholder’s late submission of Corporate Card Expense Report and its supporting documents will be charged back to the respective cardholder.
8. The Corporate Card must be strictly used for business purposes. In the event that a Corporate Card transaction, or part thereof, is not accepted as business expense, the non- approved part of the Corporate Card transaction(s) will be charged to the payroll of the cardholder as personal expense.
9. For payments paid on behalf of other staff member (like accommodation during travel), the cardholder must clearly indicate on the expense report the name of individual(s) and justify the business occasion. For meal related expense, the cardholder is required to state the names of participants, location of the restaurant and business event for each receipt / invoice.
10. In very exceptional cases, where a receipt has been missing or not been issued, the cardholder must prepare a memo (Appendix 3) to indicate and justify that the receipt is missing.
11. In no cases, any expenses and receipts over 90 days will be reimbursed. Expenses over 90 days will be charged to the cardholder’s payroll without any notifications. The Global Director, Finance and Administration, reserves the right to suspend a corporate card should a cardholder, repeatedly, delay the reconciliation of the card and submission of the Expense Report in a timely fashion, or does not provide invoices to support acquittal or acts in contravention of any part of this policy.

8.    Corporate Card Security and Safekeeping

Immediately upon receipt of a Corporate Card, the cardholder must sign at the back of the card. The cardholder will also be required to sign a document acknowledging receipt of the corporate card policy and corporate credit card as outlined in Appendix 1.

It is the cardholder’s responsibility to safeguard the corporate card and account number. Cardholder must ensure that the corporate card is always maintained in a secure manner to prevent loss, theft or misuse. The Corporate Card number and expiry date including the security code must be kept confidential at all times. Cardholder must not allow anyone to use his/her card or account number.

If a Corporate Card is lost or stolen, it is the cardholder’s responsibility to immediately notify Visa Customer Service at respective toll-free number (Appendix 4) as well as informing the Finance Team. The card must immediately be dis-activated.

Any potential unauthorized transactions booked to the Corporate Card account statement must be immediately highlighted by cardholder to Finance and the cardholder must inform and follow the respective bank process to initiate investigation by the bank.

9.    Returning the Corporate Card

In the event of employee reaching end of employment with the World Scout Bureau (resignation, end of contract, transfer, termination), the cardholder is required to return the Corporate Card to Finance, Admin, and HR responsible in the respective World Scout Bureau Office on or before the last official working day.

Respective Global or Regional Director is responsible for the timely notification to Finance Department with regards to the cancellation of corporate cards. This notice must be served at least five working days prior to the last date of work.

10. Appendices:

• Appendix 1 - Acknowledgement of Receiving Corporate Credit Card and Corporate Credit Card policy
• Appendix 2 - Corporate Card Expense Report
• Appendix 3 – Template for missing receipts
• Appendix 4 - List of toll free contact numbers for all Corporate Cards respective banks

11. Related documents for reference

• Rules of financial commitment
• Travel Policy