BASED ON POLICY NUMBER AND TITLE:
2-13-0 EP 5: ASSET PROTECTION
PURPOSE: To establish procedures for acceptance of checks, or other written instruments, in accordance with Section 34-11-60, Code of Laws of South Carolina, 1976, as amended.
- Checks, bank drafts, or other written orders (hereafter referred to as "checks") drawn upon a bank or depository and presented to the College as payment for goods and services must have the following information as a means of providing sufficient evidence of the identity of the payer, and the authorization of the payer to draw upon the account:
- Full Name
- Student I.D. Number
- Residence Address
- Home Telephone Number
- Work Telephone Number
- Signature of Payer (or endorsement of person presenting the check when check was issued by authorizing third party)
The information above may be preprinted or hand-written on the check; however, the bank account number must be preprinted on the check. The payer will be required to show a valid photo identification card.
- Checks accepted by authorized College personnel shall be validated by rubber stamp on the back of the check, and the required information in section (1) shall be entered. If the required information is preprinted on the face of the check, it does not need to be duplicated on the reverse.
- The Finance Department will hold checks and credit cards dishonored by the payer's bank due to insufficient funds or chargebacks, and the payer will be liable for the full amount of the check or credit card, plus the service charge in the amount allowed by current law. The Finance Department will send notification by certified mail to the address on the check, or the student email account for credit cards. As a courtesy, if the payer on a dishonored check is a college student or employee, the Finance Department will send additional notification to the employee by e-mail with a read receipt. Payer must make restitution to the College within ten days of the date of mailing of the certified notice. Restitution may be made by cash or cashier's check at any one the of the College's Business Offices. This ten-day grace period does not exempt the student from cancellation of registration due to nonpayment. The Finance Department will refer TTC employees who do not meet this ten-day deadline to make restitution, to Employee Relations for counseling. Additionally, the College may take further legal action. The College may restrict subsequent payments by only accepting cash, certified checks or money orders.
- TTC will accept two-party checks for payment of expenses related to courses. If the payment is deemed as uncollectible due to insufficient funds, the student account will be charged along with a service charge in the amount allowed by current law.
- Returned items not collected will be turned over to the Solicitor’s Office for collections.
- Credit Card chargebacks are payments that have been disputed or reversed resulting in monies being drafted from TTC’s bank account. Chargebacks will be identified and the payment will be reversed on the student account along with a $30 return item fee. The return item fee is non-refundable.