The vendor required to provide budget and fiscal credit card will be utilized to pay for state expenses that require immediate payment and other authorized expenses.
- Supplies and services required:
• Financial institution issuing the credit cards must be recognized by the federal reserve (fed)
• The financial institution issuing the credit cards must be federally insured
• Provide an expense control system.
• The charge cards may be utilized for other expenses that require immediate payment.
• The system shall provide charge cards for approved expenses, the system shall not include provisions for additional services such as cash advances, retails purchases or other restricted merchandise.
1. Card issuance and cancellation
• Cards shall be issued and canceled by the vendor through correspondence with agency coordinator.
• All notifications shall be in writing.
• Issuances and cancellations may be accomplished orally.
2. Additional fees
• Additional fees, including setup fees, annual fees, foreign fees, and lost card replacement fees, should be included in the pricing section and such costs will be the basis for vendor selection.
• The agency agrees to not incur expenses on the credit card accounts in the absence of an appropriation to pay incurred expenses.
3. Payment by the state
• Card payments will be issued from the comptroller’s office.
• The vendor will receive payments as per billed amount.
• The number of payments and checks will depend on the billing cycle, when the bills are received, how the vendor bills and when payments are processed by the state agency.
• Sole remedy for late payments by the state. Payment terms contained in vendor’s invoices shall have no force or effect.
4. Cash advance and purchase restrictions
• System shall allow the agency to restrict cash advances completely and place limits on the type of purchases that cardholders can make, prior to card activation.
• Provide a detailed explanation of the monthly and annual statement that will be made available to the agency via electronic copy.
• Establish account and issue cards identifying the agency as the account holder with minimal credit approval procedures (tied to the department’s credit, not the employee’s personal credit).
• Provide detailed monthly billing statements by transaction.
• Provide a telephone number and email address to assist agency coordinator for card maintenance (i.e., billing problems issues during vendor transactions, etc.)
• Provide the one credit card account with a total annual card limit of $ 25,000.00.
• The ability to immediately cancel the card account at the agencies or vendor’s request.
• Provide the agency coordinator electronic access to account expense activities.
• Provide a visa or Mastercard.
- Contract Period/Term: 10 years
