What is my responsibility in the suspension of a Purchase Charge Card account?
As the A/OPC you have the discretion to initiate suspension and/or cancellation procedures for any cardholder account. You must document the reason for cancellation and/or suspension. The bank may also suspend an account when the account becomes delinquent. The bank is required to notify the A/OPC and the Designated Billing Office (DBO) requesting payment on accounts with undisputed past due (45 days from billing date) charges. The bank shall provide a pre-suspension/cancellation report to the A/OPC to identify the undisputed overdue amounts. After 55 calendar days from the billing date, the bank shall notify the A/OPC and the DBO electronically or in writing of suspension if payment for the principal amount is not received by the close of business on the 5th calendar day after notification. The bank is required to automatically reinstate suspended accounts upon payment of the undisputed principal amount and Prompt Payment Act Interest.
