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Company Credit Card

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1 Company Credit Card on Sun Jun 30, 2013 10:16 pm


Arresto Menor
Good Day. I was a former Finance Manager of Company N, last August 2012 we signed up for BDO Corporate Credit Card, and as a Finance Manager, I was authorized by the Board to sign as the authorized representative in the application form. Three cards were issued, one for myself, one for our CFO and one for the owner of the Company.

The Board Resolution and Secretary Certificate are the primary requirements of BDO Credit Company to push through. The board resolution and SEC Cert clearly states that

"RESOLVED FINALLY, that any and all purchases made/or all expenses incurred  through the use of of BDO Corporate Credit Cards shall be paid by the Corporation to BDO including interest and service charges that may accrue thereto"

October 15, 2012, I resigned on my post to pursue a better career. There are no outstanding balance in BDO Corporate account.

June 17, 2013 I received a letter from BDO demanding for the payment of PHP1.3M because the Company N was now at default. On the letter, CFO's Credit Card has a charged of 100K and Company Owner's Card has a charged of 1.2M and my Card has a charged of 6K, which probably they used it online. All purchases were done in November 15, 2012 on wards.

BDO is chasing me for the reason that I am the one who signed the Application Form and I am jointly and severally liable for the whole amount of 1.3M. The BDO form states that

"By Signing below, the Company through the undersigned hereby Authorizes that a BDO Purchasing Card be issued to the applicant indicated herein. Company and the Cardholder agree to be bound by the terms and conditions governing the issuance and use of BDO Purchasing Card. The Company hold itself jointly and severally liable with the Cardholder for all obligations and liabilities incurred with the use of BDO Purchasing Card."

Atty I need help badly on this because I dont have 1.3M and I did not enrich on the use of that Corporate Card. Below were my questions.

As a resigned employee on the time of purchases, Nov 15, 2012 on wards, am I still liable, jointly and severally? I can prove that I am working on different Company by showing SSS Contributions and Employment Certificate.

Up to what extent that I am liable? 6K or PHP1.3M?

Is the SEC Certificate not suffice to guarantee that I should be free from all obligations?

The Company N is still in operation as of this writing.

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