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Purchasing Card Program
The JPMorgan
Chase Purchasing Card,
a MasterCard
product that is readily accepted by most suppliers, is one of several
supply management business card programs that compliments the
University's primary buying method, the
BEN Buys Purchasing System. The Purchasing
Card Program is designed to streamline the purchasing of low cost and
non-repetitive transactions in accordance with the program's
Commodity & Supplier Restrictions.
The Purchasing Card Program is available to faculty, staff and students who have
been formally authorized by their School or Center Senior Financial Officer to be
a delegated "departmental buyer" for the purchase of and pay for low cost
and non-restricted commodities from non-restricted suppliers. Authorized purchasing
card cardholders are required to attend a mandatory training session prior to
receiving their purchasing card and bi-annual refresher training sessions.
Use of a Purchasing Card is a privilege granted by the Institution,
and as such, will be revoked and disciplinary action taken in the event of abuse,
inappropriate or fraudulent use, or failure to perform required program
administrative duties.
About the Purchasing Card
Though it resembles and works like a personal credit card, there are
significant differences with the Purchasing Card:
- It is a corporate purchasing charge card rather than a personal credit card.
- Full liability rests with the University for payment to the bank for all transactions.
- It is assigned by the bank to the University employee but is issued in the name of and on the behalf of the University.
- There is no impact on a cardholder's personal credit history.
The Purchasing Card Program offers
significant benefits to Penn and our suppliers.
Program Administration
The Purchasing Card Program is managed by Purchasing Services
effective April 1, 2008.
|
Purchasing Card Administrator Contact Information |
| Purchasing Card Administrator: |
Mark West |
| Phone Number: |
(215) 898-3606 |
There are a number of guides and documents to help authorized cardholders use
their purchasing card in accordance with University policies and procedures.
Forms
Cardholder Training
New cardholder and refresher training is provided by the
Financial Training
Department.
PaymentNet Application Management Tool
The JP Morgan Chase
PaymentNet
program management software provides School and Center senior management with
additional tools and capabilities to more effectively manage cardholder spend,
monitor overall purchase activity, risk, and compliance. PaymentNet provides
many new benefits to both cardholders and administrators responsible for the
management of the University's card program.
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