The purpose of this Purchasing Policy Template is to ensure that the purchase of all goods, services, and supplies required for the safe and sound operation of a bank, credit union, fintech company, or other type of financial institution is handled in a transparent, timely, efficient, and effective manner in accordance with all applicable laws, rules and regulations and industry best practices.
Table of Contents
- Purpose and Contents – Topic 1
- Policy Statement – Topic 2
- Definitions – Topic 3
- Purchasing Program Overview – Topic 4
- Responsibility and Authority – Topic 5
- Purchasing Limits and Exceptions – Topic 6
- Purchasing Procedures – Topic 7
- Delivery and Performance – Topic 8
- Inspection and Testing – Topic 9
- Unauthorized Purchases and Improper Use – Topic 10
- Audit Policy – Topic 11
- Staff Training – Topic 12
- Retention of Documentation – Topic 13
This Purchasing Policy Template (approximately 14 pages) is available to purchase from BankPolicies.com in Microsoft® Word format.
Want to ensure your purchase from BankPolicies.com remains current? Add a Product Update Protection Plan to your shopping cart to ensure that you will automatically receive an updated version every time it is revised via e-mail within one year from the last date of purchase. This timely and cost-effective solution ensures that you stay on top of federal regulatory changes and industry recommended best practices.
When updates are made you will receive detailed information regarding why the product was updated and what has changed within the product in our Product Update Notification e-mail correspondence. This enables you to make an informed decision on whether to make any changes to the policy or procedure you implemented for your financial institution from the revised template.
BankPolicies.com provides your financial institution with the best bank policy template products available in the industry. You will always be up to date with the latest changes to bank policies and never have to worry about being out of compliance with the various laws, rules and regulations issued by the Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Federal Reserve, Office of the Comptroller of the Currency (OCC), or other federal regulatory bodies that may apply to your organization.
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