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DATE: September 14, 1999
TO: Senior Financial Officers and Senior Full-time Financial Officers
SUBJECT: Acquisition Cards
The Acquisition Cards program has been very successful since its implementation. The
number of cards in circulation now exceeds 25,000 and monthly purchases amount to more
than $29.5 million. The direct savings realized by departments in 1998 amounted to
approximately $1 million dollars.
Policy on acquisition Cards:
We have made some minor modifications to the existing policy in order to clarify the
payment process and to introduce a downloadable version of the MasterCard and Visa
application forms to obtain a new acquisition card.
The following are a few reminders on how to get the most value from your acquisition
cards. Payments to the acquisition card company should be processed in a timely manner to
avoid interest as a minimum but more importantly to maximize the rebates payable to the
government. Settling accounts according to the terms of the card payment option selected
by the department will ensure this.
It is also important to note that when rebates are available, payments can be made
before the regular payment terms as indicated under paragraph 5h) of the Policy on Payment
Requisitioning and Payment on Due Date. By paying the invoices earlier, departments will
have access to greater rebates.
Managers Guide:
We have also now completed the second version of the Acquisition Card Program,
Management Guide (or Best Practices). You will find useful information in that document on
the history, utilisation and benefits of acquisition cards and on recommended internal
controls that will assist managers in monitoring the activities related to the cards.
The revised policy, Management Guide and the card application forms are available at
the following address: http://publiservice.tbs-sct.gc.ca/Pubs_pol/dcgpubs/TBM_142/siglist_e.html
Should you have any questions concerning this policy or would like to receive an
electronic copy of the document, please have a member of your staff contact Robert
Berniquez at 613-957-9672.
J. Colin Potts
Deputy Comptroller General
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