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Employee Credit Card Agreement Template for Singapore

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Key Requirements PROMPT example:

Employee Credit Card Agreement

"I need an Employee Credit Card Agreement for our Singapore tech startup that will be rolling out corporate cards to our sales team in January 2025, with specific provisions for international travel and client entertainment expenses."

What is a Employee Credit Card Agreement?

The Employee Credit Card Agreement is essential for organizations in Singapore that provide corporate credit cards to their staff. It serves as a crucial risk management tool, ensuring compliance with MAS regulations while protecting the company's financial interests. This agreement typically includes specific provisions for card usage, expense documentation, liability allocation, and termination conditions. Under Singapore law, it creates a clear framework for managing corporate card programs while addressing both employment and banking law requirements. The agreement is particularly important given Singapore's strict financial regulations and the need for clear documentation in corporate financial management.

What sections should be included in a Employee Credit Card Agreement?

1. Parties: Identifies the employer and employee entering into the agreement

2. Background: Context of providing corporate credit card for business purposes

3. Definitions: Key terms used tHRoughout the agreement including 'Credit Card', 'Authorized Use', 'Business Expenses'

4. Card Issuance and Ownership: Terms of card provision and ownership status, including that the card remains property of the company

5. Authorized Use: Permitted uses of the corporate credit card and restrictions on personal use

6. Employee Obligations: Core responsibilities of the employee regarding card usage, security, and reporting

7. Expense Reporting: Requirements for documenting and reporting expenses, including submission deadlines

8. Termination: Conditions and process for agreement termination and card return

What sections are optional to include in a Employee Credit Card Agreement?

1. International Usage: Terms and conditions for using the corporate card outside Singapore, including foreign transaction fees and reporting requirements

2. Supplementary Cards: Provisions for additional cards and associated responsibilities

3. Rewards Program: Terms related to any card rewards or benefits and their ownership

What schedules should be included in a Employee Credit Card Agreement?

1. Schedule 1: Credit Limit and Fee Structure: Detailed breakdown of credit limits, applicable fees, and interest charges

2. Schedule 2: Expense Reporting Procedures: Step-by-step procedures for submitting expense reports and required documentation

3. Appendix A: Authorized Business Expenses: Comprehensive list of permitted business expense categories and exclusions

4. Appendix B: Card Usage Guidelines: Detailed guidelines for appropriate card usage and security measures

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions































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Industries

MAS Credit Card Guidelines: Monetary Authority of Singapore's guidelines governing credit card and charge card issuance and usage, including corporate cards

PDPA 2012: Personal Data Protection Act governing the collection, use, disclosure and care of personal data in Singapore

Employment Act (Chapter 91): Primary legislation governing employment relationships in Singapore, relevant for employer-employee obligations

Banking Act (Chapter 19): Principal legislation governing banking operations and financial services in Singapore

MAS Notice 635: Specific regulatory notice dealing with corporate credit cards and their governance requirements

MAS Fair Trading Guidelines: Guidelines ensuring fair trading practices in financial products and services

Consumer Protection (Fair Trading) Act: Legislation protecting consumers against unfair practices, applicable to financial products

Electronic Transactions Act: Law governing electronic transactions and records, relevant for digital card transactions

Corporate Card Usage Policy: Internal company policies governing appropriate use of corporate credit cards

Expense Reporting Requirements: Regulatory and internal requirements for reporting and documenting credit card expenses

Data Privacy Requirements: Specific requirements for handling personal and financial data in credit card operations

Internal Control Measures: Company-specific control mechanisms for monitoring and managing corporate credit card usage

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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