Cardholder Agreement for Use of Wells One Commercial Card VISA

I agree to the following terms regarding my use of the Wells Fargo Bank (WFB) Wells One Commercial Card:

1. Professional Use Commitment

  • I understand that the Commercial Card is a valuable tool entrusted to me for conducting financial transactions on behalf of Mt. Hood Meadows/Cooper Spur Mountain Resort.

  • I will strive to obtain the best value for the Company in all transactions conducted using the Commercial Card.

2. Cardholder Responsibility and Security

  • I will not allow others to use my Commercial Card and will ensure that it remains secure at all times.

3. Restriction on Personal Use

  • I understand that the Commercial Card is strictly for business expenses. I will not use this card for personal purchases, either for myself or others.

  • If the Commercial Card is used for personal purchases:

    • I authorize the Company to deduct the full amount of such purchases from my next payroll.

    • Any unpaid personal charges may be reported as taxable income via Form 1099.

4. Business Use and Consequences of Misuse

  • Repeated misuse of the Commercial Card for personal expenses may result in suspension or cancellation of my card privileges.

5. Receipt Management

  • I will obtain and retain itemized receipts for all transactions, ensuring they reflect the amount of sales/use tax paid and detail the items purchased.

6. Transaction Submission

  • I will follow established procedures for submitting my coded transactions.

  • I will submit all transactions, with coding, descriptions and itemized receipts, to my Authorized Approver via the WellsOne Image Library by the 26th of each month.

  • Failure to submit transactions on time may result in the revocation of my card privileges.

7. Credit Limit Compliance and Adjustment Requests

  • I will abide by the credit limits assigned to my Commercial Card.

  • If an increase in my credit limit is needed, I will email the Controller, Accounts Payable Accountant, and my Authorized Approver, providing the following details:

    • Total increase requested.

    • Duration of the requested increase.

    • Reason for the request.

8. Acknowledgment of Updates

  • I understand that continued use of the Commercial Card signifies my acceptance of any updates to this agreement communicated to me.

By typing my name below, I understand and agree that this form of electronic signature has the same force and effect as a manual signature.

First Name Last Name