Our Banking/Financial Institution Account Policy provides a framework for managing corporate banking relationships and financial accounts. It includes three samples that delineate specific policies, objectives and operational guidelines.  

Sample 1 focuses on the establishment and maintenance of financial institution accounts in the U.S., emphasizing the role of the corporate treasury department in safeguarding company assets and minimizing financial risks. It outlines the qualifications required for financial institutions, the process of opening and closing accounts and the importance of annual reviews to ensure continued relevance to business operations. Sample 2 addresses global banking consistency and details procedures for managing banking relationships, including the responsibilities of the treasurer in evaluating banks based on various criteria such as reputation and operational efficiency. Sample 3 emphasizes cash control activities, including forecasting, collecting receipts and managing short-term investments. It defines essential terms and outlines processes for handling imprest funds and petty cash while ensuring compliance with approval protocols for cash disbursements. Together, these samples create a structured approach to effective financial management within corporate entities.

Sample procedures include:

• A written request will be made to the director of treasury to close a financial institution account.
• The treasurer will perform an ongoing evaluation of the bank's abilities to satisfy the needs of the company and will make appropriate changes whenever necessary.
• The company and its subsidiaries will conduct general banking activity with financial institutions.
• The treasury department will manage the short-term and long-term debt.