Policy Notes: StanfordCardPlan Terms and Conditions

The undersigned, referred to herein as the "Holder," hereby opens a StanfordCardPlan and by signing on the attached StanfordCardPlan Application form agrees to be legally bound by all of the terms and conditions set forth herein.

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Nature of Account

Stanford University, referred to herein as "Stanford," agrees to accept and to hold for the benefit of the Holder, and exclusively for the purposes described herein, funds prepaid by the Holder to a plan maintained by Stanford and referred to herein as the "StanfordCardPlan." Funds prepaid by the Holder to the StanfordCardPlan shall be applied to charges for goods and services made by the Holder through the use of the StanfordCardPlan. The holder understands and agrees that the StanfordCardPlan is not a credit card account and that under no circumstances may debits or charges to the account result in a balance below zero. The StanfordCardPlan may not be used to obtain cash or cash advances under any circumstances.

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Establishing the Account

The StanfordCardPlan will be activated by Stanford for the Holder one business day after receipt of an initial minimum prepayment of twenty-five dollars ($25.00). Additional prepayments may be made from time to time thereafter in any amount equal to or greater than five dollars ($5.00). After the plan is opened, there is no minimum balance required. Stanford reserves the right to apply a maximum limit to the accumulated prepayments on any individual account on a case-by-case basis.

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Locations

The Holder may use the StanfordCardPlan to purchase goods and services at Stanford wherever payment through use of the StanfordCardPlan is authorized.

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No Interest on Funds

The Holder understands and agrees that no interest or other earnings will be paid to the Holder or credited by Stanford to the Holder's plan.

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Account Statement

Upon request to the StanfordCardPlan Office, the Holder will receive a statement detailing the activity in the Holder's plan. Holder will receive a quarterly account statement detailing StanfordCardPlan account activity for the preceding academic quarter.

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Use of the StanfordCardPlan

The Holder must present his or her official Stanford Card at the time of transaction in order to access the Holder's StanfordCardPlan. The plan is non-transferable and, except as provided below, the Holder is responsible for purchases made and debited to the Holder's plan. In order to prevent unauthorized use of the Holder's identification card, additional identification may be required from any person attempting to access the Holder's plan. There is no daily limit on the number of purchases that may be made and debited to the plan, provided the Holder does not exceed the amount of funds in the Holder's plan at that time.

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Lost or Stolen Cards

The Holder shall immediately report any lost or stolen Stanford Card to the Stanford Card Office or the StanfordCardPlan Office during business hours. Telephone notice must be confirmed promptly by the Holder in writing.

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Holder's Liability for Unauthorized Purchases

If a Stanford Card is lost or stolen, Holder is responsible for no more than $50 in unauthorized card purchases provided the card is reported as lost or stolen to the Stanford Card office or the StanfordCardPlan office within two business days after learning of the loss or theft. Once the card is reported as lost or stolen, the Stanford Card (and its associated StanfordCardPlan account) will be deactivated. If Holder fails to notify the Stanford Card office or the StanfordCardPlan office within two business days after learning of the loss or theft of the card, but does notify the Stanford Card office or the StanfordCardPlan office within sixty (60) days of a statement transmittal that unauthorized card purchases appear on the statement, the Holder's liability for the unauthorized purchases shall not exceed $500. If the Holder fails to report an unauthorized card purchase within sixty (60) days of transmittal of a statement, then the Holder's liability for unauthorized purchases may have no dollar limit.

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Error Resolution Procedures

Holder must telephone 650-723-1676 or write the StanfordCardPlan Office, 632 Serra Street, Stanford, CA 94305-6036, as soon as possible, if Holder believes there has been an error in connection with the Holder's Plan. Stanford must hear from Holder no later than sixty (60) days after Stanford sends Holder the first statement on which the problem or error appears. Such notification must include: Holder's name and Stanford ID number, description of the error or the transfer Holder is unsure about, an explanation of items believed to be in error or why more information is requested, and the dollar amount of the suspected error. If notification is made orally, Stanford may require that Holder send the complaint or question in writing within ten (10) business days. Stanford will inform Holder of the results of its investigation within ten (10) business days of the date Stanford hears from Holder, and will promptly correct any error. If Stanford requires more time, however, Stanford may take up to forty-five (45) days to investigate Holder's complaint or question. In that case, Stanford will credit Holder's account within ten (10) business days for the amount Holder claims is in error, so that Holder will have the use of the money during the time it takes Stanford to complete its investigation. If Holder is asked by Stanford to put Holder's complaint or question in writing and Stanford does not receive it within ten (10) business days, Stanford may not credit Holder's account. If Stanford determines that there was no error, Stanford will send Holder a written explanation within three (3) business days after the conclusion of its investigation. Holder may ask for copies of the documents that Stanford used in its investigation.

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Closing Plan, Refunds, Returns

Stanford reserves the right to close a Holder's Plan at any time; the Holder of a Plan may close a Plan at any time, but Stanford reserves the right to refuse an application to establish a new Plan. The StanfordCardPlan will be closed automatically in due course if the Holder ceases to be a student, faculty member or employee of Stanford University. At the time the plan is closed, the StanfordCardPlan Office will refund any remaining funds in the plan to the Holder at the last mailing address on file with the University. If the Holder decides to open another StanfordCardPlan thereafter, the Holder will be required to enter into a new StanfordCardPlan agreement. Goods and services purchased and debited to a StanfordCardPlan may be returned according to return policies at the location where the purchase was made; if such return is permitted, the Holder's plan will be credited for the appropriate amount. The Holder understands and agrees that no cash refunds or withdrawals may be made to the Holder.

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Effective Date of Agreement

These terms and conditions shall be in effect from the date of Stanford's receipt of a signed application from Holder until the plan is closed.

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StanfordCardPlan Office

The StanfordCardPlan will be administered by the StanfordCardPlan Office, which is located in the Cashier's Office at 632 Serra Street, Room 150.

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Modification of Agreement

Stanford may modify the terms and conditions of this agreement by providing to Holder a copy of any such changes prior to their effective date, and Holder will have the right to close his/her StanfordCardPlan within thirty (30) days of such notification. If Holder does not close his/her StanfordCardPlan within that period and after notification by Stanford, Holder agrees to be bound by such changes in his/her StanfordCardPlan terms and conditions. Stanford may terminate this plan in whole or in part at any time.

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Governing Law

These terms and conditions shall be governed in all respects by and construed in accordance with the laws of the State of California.

StanfordCardPlan Office

632 Serra Street Room 150

phone: 650-498-PLAN

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