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Multiple transactions to the same vendor on the same day when the combined total of the orders exceed the Purchasing Card transaction limit of $2,500 is considered splitting purchase transactions. Whether the action is intentional or not, it is a violation of the SC Procurement Code.
A fair split would look like 2.5% to the buyerâs agent and 2.5% to the sellerâs agent. But with discount brokers, the split is not always as fair as it should be. With a discount broker, the seller is told that he or she will have to pay a lower fee or commission because the discount broker is offering a great deal.