Document Review
Sponsorship Agreement
Before conducting any issuing activities, each Program Manager must have an executed Sponsorship Agreement. This agreement outlines:
- Bank oversight and control over the Sponsorship Programs.
- Adherence to bank policies, procedures, and guidelines.
- Complaint management and resolution requirements.
- Ongoing training requirements for employees.
- Approval of all Sponsorship Program materials.
- Compliance with Card Brands’ Rules and Regulations and all applicable laws and regulations.
- Bank audit rights and record-keeping requirements.
- Control over Sponsorship Program funds and any required reserves.
- Applicable credit terms.
- Bank access to Sponsorship Program reporting and other data.
- Program Manager rights for offering products to customers.
Program Outline
The Program Outline documents the allowable use cases for each program under a Sponsorship Agreement. Each unique program must have its own Program Outline, agreed upon by both the bank and the Program Manager.
Updated about 1 month ago