Commitment and Expenditure Authorization Policy

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Screenshot of the first page of Commitment and Expenditure Authorization Policy

This policy establishes guidelines for all transactions that bind or commit the company to performance or expend the company’s assets. The scope includes operational approvals, financial approvals, legal approvals and the physical execution of contracts.

The purpose of this policy is to establish clear approval levels for binding commitments, whether oral or in writing, of a company and its worldwide subsidiaries, branches and offices, thereby safeguarding company assets; to provide employees a tool and authority to accomplish their jobs effectively, to facilitate financial controls, and to ensure company’s financial and business integrity; etc.

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