JP Morgan Chase Purchasing Card
The P-Card system was implemented to facilitate procurement of standard, low dollar value items that are not available on the University’s “Preferred Vendor” e-commerce systems. It is not uncommon for transactions in this category to range from 50% to 70% of total transactions; however, account for only 10% of total cost.
It should also be noted, that certain standard commodity codes may be “blocked” from the system i.e. hazardous materials. In addition, certain vendors have policies that prohibit the use of procurement cards.
An application form is required to secure a P-Card. In completing the application, please note that the maximum transaction dollar limit is $4,999.00, and a monthly credit limit will also be established.
The major benefit derived from this system is a reduction in transaction processing cost including payment. Detailed accounting reports are provided by the system administrator to provide payment documentation and audit trails.