Employee Computer Purchase Loan Application - Directions
TYCO IS NOT RESPONSIBLE FOR SERVICING YOUR COMPUTER. EMPLOYEES SHOULD ADDRESS ALL PRODUCT AND/OR ORDER QUESTIONS OR PROBLEMS DIRECTLY WITH THE COMPUTER VENDOR.
Employee:
Must have completed six months of continuous service and be in good standing. (Refer to the Eligibility section of this policy for the definition of good standing.)Provide an original itemized receipt or quotation from the vendor.Complete and sign the Loan Application.Complete and sign the Promissory Note; deductions may not exceed eighteen (18) months.Provide a 10% minimum down payment on the total amount of the computer package to the vendor.Give all of the above to the location Computer Purchase Coordinator (CPC).Upon receipt of the equipment, provide an itemized receiving slip or receipt if one has not already been provided.
Computer Purchase Coordinator:
Verify employee eligibility and completeness and accuracy of all documentation.Prepare a check requisition for either the employee or the vendor for the amount of the loan.Send the check requisition to the designated Accounts Payable ("AP") contact.Upon receiving the check from AP, forward the check to the employee or vendor and retain:
- The original itemized invoice, receipt or quotation in the employee’s name.
- A signed/completed copy of the Loan Application.
- A signed/completed copy of the Promissory Note.
- Evidence of the employee’s 10% down payment (minimum).
- Send the Promissory Note and Loan Application to the Payroll Department.
Invoices:
Invoices for all purchases should be in the employee’s name and equipment shipped to the employee’s specified mailing address.
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