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Official document of: SnackCo of America
Advances
SOP #: 2.1.025 Revision Date: 1970-01-01 Approved by: Status: Active


Description:

Policy that outlines how we deal with advances.

Applies to:
Scope:
Definitions:
Policy:

Snackco management may at its sole discretion issue advances to employees in good standing who solicit them(not to exceed 2 times annually).

 

LImits on amount of the advance: We will never issue an advance for an amount greater than 50% of earned wages as of the date the advance is issued. This is to prevent any "loan" creation in which the employee has to work for Snackco in order to meet its obligations.

 

Required time on Job: An employee who has not been with the company for at least 3 months may not receive an advance.

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