Through an agreement with US Bank, Babson College provides qualified employees with a VISA Procurement Card (P-Card) to purchase goods that do not require a Babson College Purchase Order (see Section 4.3 of the Babson College P-Card Manual (pdf) for information on purchase orders). Babson College strongly encourages P-Card use for certain small dollar purchases in addition to travel, meal and entertainment expenses incurred on behalf of the College. The P-Card provides convenience and improves efficiency by:
- Simplifying the ordering process
- Decentralizing purchasing responsibility for small dollar orders
- Facilitating prompt payment to vendors
- Reducing overall processing costs
- Driving exiting Campus spend towards the US Bank Rebate Program
Cardholders may use the Campus P-Card for Babson College Business only and in accordance with the College’s Appropriate Use of Funds Policy (The Policy on the Appropriate Use of Funds is Available on the Procurement Website). Use of Babson’s P-Card for personal purchases is strictly prohibited. Violations may result in revocation of cardholder privileges and possible disciplinary action.
Department Directors are responsible and are held accountable for the P-Card charges made against their budgets. For this reason and for auditing purposes, effective immediately all Cardholder expenses must be approved by their supervisor within the US Bank Expense Management Program. Babson College pays US Bank directly for all P-Card purchases.
Applying for and using the Babson P-Card in no way affects a cardholder’s personal credit history. Personal information is used for tracking and administration purposes only. Babson College assumes full corporate liability for P-Card use.
Purchasing Card Administration—Obtaining a P-Card
Full-time and part-time employees of Babson College are eligible to apply for and receive P-Cards.
Refer to Section 2 of the Babson College P-Card Manual (pdf) for detailed instructions.