Question: Scrip agreement form?

I've just taken over the scrip program at my school and want to include more local venders in our program. Does anyone use an agreement form so that once a vender signs up they can ensure that the school received the donation promised? I'm worried that I will have someone back out and don't want to make a huge headache for myself.

Asked by Anonymous

Answers:

Advice from PTO Today

Rockne writes:
I haven't heard of a form like that, but I have (did) spend some time helping to manage a scrip company years ago. It's a big undertaking, and my advice would be to tread lightly with those relationships (with local vendors). You're right to think there is risk. I wouldn't put too much of my cash into them, and I wouldn't extend credit to them. You getting your discount should happen on the up-front side anyway. If you buy $1000 of their GC's, you should only pay $950 or $850 or the like. So your discount will happen that way. Your risk would be if you bought the GC's and then the retailer went out of business. Relatively small risk, but I certainly wouldn't want to be left holding $10,000 or something of a small retailer's scrip. Adding the local vendors is a nice touch and potentially valuable, but you're really adding level of complication and management (the job that scrip broker typically does) to an already challenging job. Tim

Community Advice

MrsMiller777 writes:
I am also in the same type of situation and want to make sure I have an agreement prior to starting any additional local retailers.