Season Ticket Loan Agreement Template

You must apply for a loan before buying the season card. The university individually reviews each application for a permanent card loan and reserves the right to delay or reject an application. This season card form should be used for an employee to apply for a loan to purchase a seasonal card. Before granting a permanent card loan to a worker, the employer should require the worker to sign a written agreement allowing the employer to deduct the worker`s salary as a loan repayment. Without this prior written consent, it is illegal for an employer to make deductions on the employee`s salary. Any alleged abuse of permanent card credit agreements (for example. B evidence that the loan was used for other purposes) is investigated through the university`s disciplinary policy and disciplinary procedure. Loughborough University offers employees an annual, interest-free card loan to cover public travel expenses between the place of residence and the workplace. If you return your ticket before the expiry date, you must pay the remaining balance at the university. Proof of the purchase of the seasonal card must be presented to the human resources department within 2 weeks of payment of the loan.

If this is not possible, the result will be an immediate full refund of all outstanding items. Below is a list of terms and conditions for all permanent card loans. Loans are made in the form of a salary advance. Once the loan is received, the payslip begins with regular deductions from your salary. Under no circumstances can the repayment period exceed the duration of the permanent card or your employment contract. Employees should receive an offer from the tour operator to confirm the cost of the seasonal card and to attach it to a permanent card application form. The form states that the permanent card loan must be paid into the employee`s bank account and asks the employee to prove the purchase of the seasonal card. The university funds the purchase of an annual card (up to a maximum of $10,000) in the form of an interest-free loan.

You then re-subscribe this loan at the rate of 12 equal monthly payments of your net salary (i.e. after deducting social security and tax). The permanent card will not be automatically renewed at the end of the twelve months: you will have to apply for a new ticket according to the same procedure. Maintaining the seasonal map is your responsibility. If the ticket is lost, it is your responsibility to arrange a replacement for the tour operator. If, for any reason, the tour operator decides not to replace the ticket, you will continue to be responsible for the credit and the deductions of salary payments will continue unabated until the entire loan is released. The seasonal map covers the relevant costs for public transportation to and from your workplace, but not other travel expenses, for example. B not the cost of using the car or parking. The loan can only be used for the purchase of a standard annual seasonal card and a copy of the ticket must be made available to the human resources department. After receiving the application form, the human resources department verifies the application before sending it to Payroll.

A credit payment is then made to your bank account so you can buy your seasonal card online or at the booking office.