26.3.7 Corporate Credit Cards

In principle, the University makes payments by bank transfer after delivery of goods or completion of services, in order to minimize the risk in trading. However, for cases where payment by a credit card is necessary or required by the selected vendor, a corporate credit card can be used for the transaction in compliance with the University rules.

26.3.7.1 Types of Corporate Credit Cards
The University has three types of corporate credit cards: central corporate card, purchasing cards (P-cards), and individual corporate cards. Major features of each card type are summarized in the Table I below.

Table I: Major Features of OIST Corporate Credit Cards
＜See attached＞

26.3.7.2 Card Administrator
In order to administer appropriate usage of corporate credit cards, the University assigns one card administrator to each card type as follows.

Card type	Central Corporate Card	P-card	Individual Corporate Card
Card Administrator	VPF	VPF	VPF

26.3.7.3 Card User and Card Supervisor
University officer/staff eligible to use a corporate credit card (card user) and those eligible to supervise the usage (card supervisor) are defined by card type in the following table.

Card type	Central Corporate Card	P-card	Individual Corporate Card
Card User	Finance Division staff	Staff different from, and assigned by, the card supervisor	President
Card Supervisor	Finance Division Manager	Budget supervisor (VP level) or budget holder (Faculty, Section leader level)	Same as above

26.3.7.4 Application and Issuance of Corporate Credit Card
Card applications must be completed by the card supervisor and submitted to the relevant card administrator. For P-card applications by an AVP or Section Leader,　approval of the relevant budget supervisor (VP level) is required upon application. The card administrator reviews applications for a corporate credit card and approves or rejects. If approved, a corporate credit card will be issued and delivered after the card supervisor has completed the appropriate training on corporate credit card usage, responsibilities, and accountability associated with the corporate credit card (Exception: central corporate card).

26.3.7.5 Corporate Credit Card Use Workflow
Card supervisors of a corporate credit card must use the card by following the workflow defined separately.

26.3.7.6 Uses Allowed and Not Allowed　
Corporate credit card usage is strictly limited to regular university-related business purchases and strictly prohibited for personal expenses and business expenses comingled with non-business expenses. Purchases must be approved in the ERP system prior to the transaction.
Central corporate card can be used upon request by a Unit/Section. In principle, the P-card and Individual Corporate Card Guideline applies regarding uses allowed with a corporate credit card. However, when it is not practical to apply the above Guideline, central corporate card can be used for transactions specifically authorized as necessary by the Accounting Supervisor or the person to whom the Accounting Supervisor delegates central corporate card related duties.
For P-cards and individual corporate cards, uses allowed and not allowed are detailed in the P-card and Individual Corporate Card Guideline. In case of doubt, the card supervisor should confirm the eligibility of the transaction with staff in charge in the Finance Division.

26.3.7.7 Responsibility

26.3.7.7.1 Card Administrator
The card administrator is responsible for overall administration of the relevant corporate credit cards (such as reviewing card applications, approving corporate credit card issuance, and terminating corporate credit cards) and monitoring of the compliance with policies, rules and procedures. In case of misuse, the card administrator will respond in accordance with Chapter 26.3.7.8 . The card administrator is responsible for developing, updating, and administering relevant guidelines.

26.3.7.7.2  Card Supervisor of P-cards and Individual Corporate Cards
The card supervisors of P-cards and individual corporate cards shall understand that expenses paid with the corporate credit card will be settled directly from the University account and that irregular use of these corporate credit cards brings an audit and financial risk to the University. It is the card supervisor’s responsibility to ensure the corporate credit card is used in compliance with PRP Chapters 26 through 29, the P-card and Individual Corporate card Guideline, and future stipulation relevant to the corporate credit card.
The card supervisors must reconcile all transactions with an approved Purchase Order number (PO#) and submit required documents by the deadline set in the workflow. The card supervisors must make sure all ordered goods and services are delivered by the end of the fiscal year by carefully monitoring the delivery status.
The University will hold the card supervisor fully responsible for all unauthorized transactions (See 26.3.7.6 Uses Allowed and Not Allowed), transactions followed by non-delivery of ordered items or services, and transactions without appropriate reconciliation with an approved Purchase Order number (PO#) by the document submission deadline. For such transactions, the card supervisor shall reimburse the amount to the University as soon as possible after the fact occurred. The University may agree with card supervisors in advance to deduct the amount from the card supervisor’s salary if the reimbursement is not made in a timely manner.

26.3.7.7.3  Card User
The card user must carefully handle and store the card information. The card information should not be posted, emailed or visible in any place that is accessible by others. The card user may not share the card information with anyone else.

26.3.7.8 Misuse of Corporate Credit Card
Misuse of a corporate credit card, intentional or accidental, is a violation of the University PRP (See also Chapters 28.2.3 and 29.1). In case of misuse, the card administrator will issue a warning and may decide suspension of the corporate credit card. It may result in other disciplinary action depending on the seriousness of the violation, in accordance with PRP 38 “Discipline”.

26.3.7.9 Lost or Stolen Corporate Credit Card
If a corporate credit card or card information is lost or stolen, the card supervisor shall immediately notify the card administrator, the card issuer, and the local police. The card supervisor is liable for the damage caused by a fraudulent activity, unless it is covered by the card issuer as described in card issuer’s contract.

26.3.7.10 Returning P-card Information and Individual Corporate Cards
Card supervisors of P-cards and individual corporate cards must return the corporate credit card to the card issuer via the card administrator when:

26.3.7.10.1 The card supervisor leaves the University.
26.3.7.10.2 The card user of the P-card moves to another position in the University.
26.3.7.10.3 The University or the card issuer requests.

26.3.7.11 Cancellation of Corporate Credit Card
Corporate credit cards may be terminated at any time by the University.