Page 37 - Malvern College - Welcome Brochure

Financial and Credit Control Policy Financial and Credit Control Policy Welcome Document 2020 - 2021
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11 DISHONOURED CHEQUES
In the the event that any cheque “bounces” or is is otherwise dishonoured the the College will serve formal notice of the the non- payment to to the the Parents and reserves the the right to to commence proceedings for recovery of of the the sum owed under the the Bills of of Exchange Act 1882 or otherwise in the the the event the the the College is is not not put in in funds within 14 days of such notice The amount of any bank charges incurred by the College for returned cheques will be charged on the next invoice 12 LATE PAYMENT Interest at at at a a a a a a rate of 1
5% per month is chargeable on on late payments Parents who have not paid fees by the first day of term will be contacted in in the the second week by a a a member of the the Finance Office They will send a a a reminder informing Parents that interest will be be charged should the debt not be be settled in in full and in in cleared funds within seven days of of the the date of of the the reminder email If no payment is received within seven days then interest will be added to the the account from the the due date of payment of of the the outstanding invoice(s) Notification of of the the interest accrual and a a a a a second request for payment will then be sent to Parents This will require payment in in full in in cleared funds within a a a a further further seven days to avoid further further action being taken In default of payment Parents may be asked to meet the Finance Director within 14 days to to discuss the situation If a a a a satisfactory payment arrangement is is is not otherwise agreed Parents may be be given notice that the pupil(s) will not not be be permitted to return Any notice of exclusion for non-payment of fees will be confirmed in in in writing in in in accordance with the Contract If the account of a a a pupil who has been excluded for non- payment has not been cleared in full 28 days after the start of the the exclusion the the pupil will be deemed withdrawn without notice notice and a a term’s fees in lieu of notice notice will be due An invoice for fees will be raised and in in default of payment recovery action initiated 13 NOTICE OF WITHDRAWAL
Parents are are reminded of their obligation under the the Contract to give at least one full term’s notice in in writing of the cancellation of of a a a a a a a place or the withdrawal of of a a a a a a a pupil from the College For the the avoidance of doubt the the Contract requires Parents to give one term’s notice to to the College to to that effect failing which fees in lieu of notice will become due and payable as a a a a debt by the the the Parents on the the the first day of the the the cancelled term This notice will only be effective if addressed and received by the Headmaster Parents are are recommended to seek an acknowledgement of any such notice For the the avoidance of doubt the the College will seek recovery action for for fees fees in lieu of notice as as well as as for for unpaid fees fees Where provisional notice has been communicated to the College by the the Parents then this will only remain valid for the the the term to which it relates If the the the pupil remains at at the the the College after this time then the the Parents will be required to give notice strictly in accordance with the College’s Terms and Conditions thereafter to withdraw the the pupil from the College 14 REGISTRATION FEES AND DEPOSITS
Any registration fees paid to the College are non-refundable on on the the the cancellation of of a a a a a a place or the the the withdrawal of of the the the pupil Any deposits paid will be retained by the College until after the the pupil leaves and then will be repaid without interest to the the Parents save if the the pupil has been expelled In the the event that fees remain outstanding following the the withdrawal of a a a pupil from the the the College College then the the the College College will be entitled to retain any acceptance deposit and deduct this amount amount from the outstanding amount amount owed 15 FEES AFTER SUSPENSION OR EXCLUSION
In the the event that a a pupil is suspended or expelled from the the College College then the the College College will will not waive any fees nor will will it refund any fees already paid by the Parents