Commitment and Expenditure Authorization Policy

This sample policy establishes guidelines for all transactions that bind or commit the company to performance or expend the company’s assets.

The purpose of this policy is to establish clear approval levels for binding commitments of the company and its worldwide subsidiaries, branches and offices, thereby safeguarding company assets; provide employees tools and authority to accomplish their jobs effectively; facilitate financial controls; ensure company financial and business integrity; facilitate expedient approvals of sales and marketing activities within the control structure; and reduce the paperwork and overhead associated with employee acquisition of required goods and services.