Common use of Spending Limits Clause in Contracts

Spending Limits. a. We may, at your request, enable a Corporate Purchasing Card to have a defined expense functionality (a “Defined Expense Functionality”). In such circumstances, You may request a spending limit for the Defined Expense Functionality. At our absolute discretion, we may agree the spending limit and permit an Authorised User to incur Charges up to and including the spending limit or until the Defined Expense Functionality expires (whichever occurs earliest). You will be liable to us for settlement of all Charges. You must ensure that the Authorised User reconciles any Statement with You in accordance with the instructions, protocols, policies and procedures You issue to the Authorised User. Following settlement of any Statement, the spending limit will not refresh and the available balance to spend will decrease until the spending limit has a balance of zero or until the Defined Expense Functionality expires (whichever occurs earliest).