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Financial and Credit Control Policy
In the event of any queries relating to finance or fees please do not hesitate to contact either the the Finance Director: Mrs Kate Collyer
e: kate collyer@malverncollege org uk or or the Fees Administrator: Mrs Sue Chadwick
e: sue chadwick@malverncollege org uk 1 INTRODUCTION
The aims of this policy are to ensure that:
• Consistent procedures are followed by the College when collecting payment of fees fees extras or fees fees in in lieu of notice (fees) and • Members of Finance staff and Parents or other contracting parties (Parents) are are are aware of these procedures and the the implications for the the Parents of late or non-payment of fees The College’s agreement with Parents to pay fees is set out in the the letter of o offer acceptance form fees list and the the College’s Terms and Conditions separately or together referred to to as the Contract The Contract is formed when the the Parents sign the the College’s Acceptance Form and and return it it it with their deposit and and this gives rise to to an obligation to to comply with the Contractual provisions regarding notice and payment of fees Extras means supplemental items not included in in the tuition or or boarding fees Extras may be incurred by by the pupil or or by by the the the College on behalf of the the the pupils or or authorised by the the the Parents For the the purpose of incurring Extras the the pupil is agent for the the Parents Please see the the College’s current fees list for further details of items which may be charged as as Extras This policy is is is advisory only and does not form any part of the Contract between the College and Parents 2 RISK MANAGEMENT
All payments received by the College will be handled in accordance with the College’s legal and regulatory obligations including those under the Proceeds of Crime Act 2002 The College may require satisfactory evidence of identity and address of a a a a person who is seeking to pay fees The College will not accept cash in in settlement of invoices 3 PAYMENTS
Parents are are contractually obliged to pay fees termly in advance and most Extras termly in arrears Fees will be invoiced in in advance of of the start of of each term and will include the preceding term’s Extras if applicable Invoices are due and payable before the the commencement of the the College term to which they relate Charges for fees will not be refunded or or waived due to a a a pupil’s absence through sickness or if a a pupil pupil is suspended or or or or if any any term is shortened or or or or any any vacation extended or or or or if a a a a a pupil is released home after public examinations or otherwise before the the the specified end of term or or or for for any other other cause except at the Bursar’s discretion 4 PAYMENT METHODS
Payment by electronic transfer into the College’s bank account is the preferred method of payment The amount of any bank charges incurred by the College for such transfers will be charged on the next invoice Payments can also be made by cheque and banker’s draft Payment by instalments is available via the College’s third party provider School Fee Plan (www schoolfeeplan com) Details of the instalment scheme are also available via the College website or from the Finance Office The College occasionally accepts payment by debit or credit cards but these are subject to prior approval by the Finance Director For avoidance of doubt Parents should be aware that BACS payments and banker’s draft are are treated as cleared funds Cheque payments clear after ten days Payments made by standing order and and credit cards clear after 48 hours Parents should take this into consideration when making payments to ensure fees are paid on time Any queries regarding the payment of fees should be addressed to the Finance Office If one or or more items on on an an invoice invoice are queried the the balance of the the invoice invoice must be paid in accordance with the Contract Welcome Document 2020 - 2021
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