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Financial Policy

To ensure timely processing and adherence to our financial policies, all payments must be received
and reflected in our accounts by the 1st of every month.

No alternative dates for payment acceptance are available. This stipulation is a mandatory requirement in accordance with our established financial procedures.

1. Purpose of the Policy

To provide transparent information as to how Palm Tempelton VAK Centre finance department manages the parent’s school accounts.

 

2. Principles Governing the Policy

Parents open an account with the Centre. As long as the account remains in good standing, the learner may receive the services offered. parents and not learners, remain responsible to pay the account. While it may appear obsolete, learners are never expelled for non-payment of the centre account but rather parents’ accounts are closed, where after learners are suspended. It is the decision of the parents, based on the management of their account that determines whether a learner may continue to receive the services offered. Palm Tempelton VAK Centre Account Department actions will follow in accordance with the policy.

 

3. Scope of the Policy

Palm Tempelton VAK Centre is fee paying and is not subsidised in any way by government.

The policy is applicable to all parents of learners that plan to enrol, are currently enrolled or have re-enrolled at Palm Tempelton VAK Centre staff that either directly or indirectly speaks to, or work with parents’ accounts.

 

This policy should be read and understood in conjunction with:

a. The Palm Tempelton VAK Centre Enrolment Agreement concluded between parents and Palm Tempelton VAK Centre when agreeing to place their child(ren) with Palm Tempelton VAK Centre.

b. The latest published Palm Tempelton VAK Centre schedule of fees documents for Palm Tempelton VAK Centre.

 

Some provisions contained in this Policy may be duplicated in other documents that form part of the Enrolment Agreement. If any inconsistency exists between provisions contained in this Policy and such other document, the provisions contained in this Policy will prevail.

By signing the Enrolment Agreement the parent agrees to the terms and conditions contained in this policy document. If there is any provision in this document that is not fully understood, please ask Palm Tempelton VAK Centre to explain it prior to accepting the Enrolment Agreement.

 

4. Definitions

In addition to the definitions contained in the Enrolment Agreement, unless the context indicates a contrary intention, the following words and expressions bear the meanings assigned to them and cognate expressions bear corresponding means:

 

“Account” this is the financial reflection of the Enrolment Agreement; an account is created for each family or learner and is uniquely identified by a family Account Number.

 

“Account Department” is the administrative staff that deal directly with parent accounts.

 

“The Agreement” means those terms and conditions and other documents that regulate the relationship between Palm Tempelton VAK Centre, the learner, the parent and the third party as set out and defined in the Enrolment Agreement, including this Policy.

 

“3 Month Notice Period or Notice Period” or “Notice Period” refers to the value of 3 months’ Tuition Fees that must be given in advance to removing a learner from Palm Tempelton VAK Centre. This can be given either as a served notice or as a payment. See below for details.

 

“The Policy” means this Account Management Policy and any annexure and / or schedules attached thereto as it forms part of the Agreement.

 

5. Fees & Levies

The following Fees and Levies are described below:

a. Application Fee

b. Annual Security Retainer Fee

c. Development Levy

d. Tuition Fee

 

6. Application Fee

 

The Application Fee is immediately payable if parents wish to apply for enrolment at Palm Tempelton VAK Centre.

 

The Application Fee must be paid in full via EFT to the appropriate bank account and the proof of payment to be sent via email.

 

Learners and parents will only be invited for an interview once the Application Fee has been paid. This is only if the interview has not already taken place. The Application Fee is non-refundable.

 

7.  Annual Security Retainer Fee

 

All learners whether for new enrolment or for re-enrolment, will be charged an Annual Security Retainer or top up fee. The Security Retainer is equal to one month’s Tuition Fee for each learner enrolled at the centre at the fee structure of the Phase or Programme they are enrolled in for that academic year.

 

The Security Retainer must be paid in full via EFT to the appropriate centre bank account and the proof of payment sent to the appropriate centre email address before the enrolment of the learner will be finalised. Should the Security Retainer not be paid but the enrolment agreement has been signed and the class becomes full, Palm Tempelton Learning Centre reserves the right to place learners that have not paid the Security Retainer on a waiting list.

As soon as the Security Retainer has been paid, the learner’s place in the class will be reserved and the learner is considered fully enrolled.

Learner’s will only be allowed to start tuition once the Annual Security Retainer (See below) and the current month’s invoice is paid in full and we have proof of payment for both.

 

The Security Retainer acts as:

a. Security for missed payments

b. Security of a learner’s place at Palm Tempelton

If a learner moves between phases or programmes during the course of an academic year, the Security Retainer will be adjusted accordingly. This will either reflect as a credit or a debit on the Account Statement.

When, at the end of the academic year, a learner progresses from one phase or programme to the next, the Security Retainer is retained for the next academic year and parents are invoiced to “top up” the retainer to reflect the new value.

The Security Retainer is not interest bearing nor refundable.

Should a learner leave Palm Tempelton before the completion of their schooling or at the end of their schooling career, the Security Retainer may:

 

a. Act as one month’s payment towards the 3 Month Notice Period or,

b. Be donated to the school

 

The Security Retainer does not in any way impact on the requirement for parents to provide the 3 Month Notice Period before withdrawing their child.

 

8. Development Levy – (Maintenance fee / Parent Training and Assessments)

 

The Development Levy is an annual fee that needs to be paid in ADVANCE.

 

Development Levies may be paid in full via EFT to the appropriate Centre bank account and the proof of payment sent to the appropriate centre account email address.

 

Should a parent fail to pay the Development Levy as a single annual payment the levy will automatically revert to a monthly fee and incur the interest penalty as indicated.

 

  • Parent training is done termly as part of the program that is followed .This is usually done on a Saturday 9:00 – 13:00 with parents only. The fee is due in ADVANCE annually.
  • Assessments are done weekly but only termly are you offered a written assessment. Please ensure that you collect it. This fee is due in ADVANCE.

 

Learners that enrol part way through a year will be charged the full Annual Development Levy.

 

9. Tuition Fee

 

The Tuition Fee covers all normal educational services at the Centre. Payment is in ADVANCE for services rendered.

 

The standard Tuition Fee is a single annual amount which parents may choose to pay that annual Tuition Fee in either one of the following frequencies:

 

a. Annual: One (1) payment to be made by no later than the first day of the new year. Payment can be made via EFT or Debit Order. Missed payments means that payment type will automatically revert to monthly. learners starting during the course of the year may pay a single fee equal to the remaining months of the year, including the month in which they started.

b. Termly: Four (4) interest free payments to be made by the first centre day of each term. Payment via Debit Order, Stop Order or EFT. Missed payments means that payment type will automatically revert to monthly. learners starting during the course of a term need to pay a pro-rata amount for the current term based on the monthly costs, including the month in which they started.

c. Monthly: Twelve (12) interest free payments to be made by the 1st of each month. Payment by Debit Order or Stop Order only. learners starting during the course of the month will pay the full monthly amount for the month in which they are enrolled.

 

10. Palm Tempelton Learning Centre Levies

 

Related to but not limited to Curricular:

  • BRAINLINE – to be paid directly
  • MOBYMAX paid into Centre bank account
  • GED paid into Centre bank account
  • Think Digital – Cambridge – to be paid directly

 

The Phase Levy covers additional services and products, as indicated below, that are required to help the centre function optimally.

 

The Phase Levy is an annual fee that needs to be paid in ADVANCE.

 

Phase Levies may be paid in full via EFT to the appropriate campus account and the proof of payment sent to the appropriate campus bank account’s email address.

 

Should a parent fail to pay the Phase Levy as a single annual payment the levy will automatically revert to a monthly fee and incur the interest penalty as indicated.

 

11. Aftercare Fee

Parents that have selected Full or Gap After Care services when signing the After Care Agreement will be charged accordingly.

 

Should a learner still be at the Centre 30 minutes after Normal Centre Hours for that learner, they will be “logged in” to Aftercare and you will be charged.

 

Please note that all learners not collected by 5:30 pm will be charged an additional Ad Hoc rate to help compensate staff who had to work overtime.

 

All other parents will be charged Ad Hoc rates in arrears should the learner remain in Aftercare.

 

12.  Additional Fees

All Sundry, ad hoc items or services will be charged as Additional Fees on the invoice and clearly identified. This includes, but is not limited to:

  • Uniform items (if applicable)
  • Outings
  • Camp, Drama
  • Annual Event and Graduation Event

 

13. Penalty Fees

Financial irregularities cost all involved in both time and frustration. As such we request that parents take responsibility for complying with our payment terms and requirements: Failure to comply will apply a penalty fee as per the latest published fees document for any and all of the following:

  • Payment into the incorrect centre bank account
  • Payment made with the incorrect Family Account Number
  • Any bank charges that accrue to Palm Tempelton for payments made – e.g. international payments will accrue the penalty fee and the associated bank charge or cash deposits.
  • Requests for replacement or duplicate documents already handed to parents. This includes, but is not limited to Tax invoices, Reports/Student.

 

14. Account Number

On placement parents will receive their unique Account Number. This Account Number must be used as a reference for all payments made to Palm Tempelton.

 

Payments made with incorrect or absent Account Number will result in delays in processing the payment and in a Penalty Fee being charged. If the error is not picked up by parents before month end it could result in the account being closed and the learner being suspended.

 

15. Payment Options

  • Application Fees, Security Retainers Fees, if paid as an Annual or Termly amount may be made via EFT to the relevant bank account. Proof of payment must be sent to the specific email address.
  • Phase/Programme Levies (curricula) – EFT ONCE-OFF
  • Monthly payments of Tuition fees, Development Levies and Phase or Programme Levies may only be made by debit order (preferred).
  • If a parent wishes to pay for monthly Tuition fees by any other means they will need to setup a meeting with the Centre principal. Reasons why a fixed monthly commitment to the payment cannot be made needs to be given. It is entirely up to the discretion of the principal to accept, or not, reasons supplied. Should the reasons be deemed unsatisfactory enrolment may be withdrawn.
  • No CASH amounts of greater than R100 will be accepted at the Centre. This is done to protect both learners and the staff.
  • NO CHEQUES are accepted.

 

16. Invoices & Statements

  • Regardless of the payment frequency selected, invoices will be emailed to the Account Payer as a courtesy, by no later than the 26th of each month for the following month.
  • Payment is due regardless of whether the invoices were sent by our Accounts Department or received by the Account Payer.
  • To be clear, non-receipt of an invoice is no excuse not to pay the contractually agreed fees.

 

The invoices will reflect:

  • All outstanding monies due in advance – including, but not limited to tuition fees, aftercare fees, outing and camp costs etc.
  • All fees charged in arrears – including, but not limited to Ad Hoc After Care fees, uniform fees, penalty fees etc.
  • Invoices will reflect any concessions or discounts.
  • Invoices need to be settled by the first day of each month.

 

STATEMENTS

  • Statements will be sent out to parents by the 8th of each month.
  • A statement is NOT another invoice but rather a record of debits and credits on your school account. The onus is on the parent to ensure that the statement reflects all payments made accurately.
  • Any issues should be raised with the Accounts Department immediately.
  • Statements will also reflect any credits or other account adjustments.

 

17. Notice Period

Palm Tempelton makes a commitment to parents to provide educational services for the full duration of the year. We therefore often incur costs related to that learner for the full year regardless of whether the learner remains enrolled at Palm Tempelton for the full period or not.

Should you wish to withdraw your child from Palm Tempelton the following process must be followed. 

Either:

  • Served Notice Period: The principal must be emailed stating clearly that you wish to withdraw your child from Palm Tempelton. The full 3 (three) calendar months’ notice will then commence.

For example: If written notice is given in July the account payer will still be liable for the August, September and October invoices. The month in which the notice is given does NOT count as one of the three months.

 

OR

 

  • Notice via Payment: The principal must be emailed stating that you wish to with draw your child with immediate effect. Payment equal to 3 months Tuition Fees must be paid in full via EFT to the centre.

 

Should a parent remove a learner during the 3 months’ notice period or without giving notice, the account holder will remain liable for the pro-rata outstanding amount for the three months and the full amount of all annual fees.

 

  • All parties who have signed the Enrolment Agreement will remain liable for the payment of all outstanding accounts, unless other written agreements are lodged with the administration office.
  • All payments received will be applied firstly to interest/penalties, fees in lieu of notice, Sundry charges and the outstanding tuition fees.
  • Please note that as a rule no refund (pro-rata or otherwise) is given on annual Levies including the Development and Programme Levies.

 

18.  Late Payments and Breach of Contract

It is Palm Tempelton’s policy to ensure that parents’ levels of indebtedness do not exceed one month’s tuition fees. The monies associated with the indebtedness can be for any combination of fee (Tuition or Additional Fees) and / or Levies.

 

  • This is done to protect both Palm Tempelton and the parents.
  • Accounts not settled in full within 30 days of invoice will be SUSPENDED.
  • As such the learner will not be allowed on the Campus from the 1st day of the following month and will be suspended.
  • Further to this, accounts will be handed over to our appointed Debt Collection Agencies. The account will at that stage also automatically attract our 3-month notice period as no advanced notice was given for closing the account.

 

  1. Should the account payer become aware that for whether reasons full payment will not be made they should contact the Account Department immediately to avoid the account being closed and the learner suspended.
  2. Settlement of any negotiated Payment Agreement for outstanding fees must be by signed by an authorized staff member only.
  3. Any deviation of the Payment Plan will result in the account being closed and handed over and the learner suspended.
  4. Should a suspended account be settled, either directly with Palm Tempelton or via our debt collectors, the account may then be re-opened or the suspension lifted.
  5. Any monies paid towards the settlement of the 3-month notice period will be credited to the account.
  6. 6.       The account will then incur the Application Fee and a new Security Retainer along with the current month’s invoice.
  7. Monies paid toward the 3-month Notice Period will not carry over to a new academic year as a credit to the account.
  8. Interest will be charged on all overdue accounts at a rate of Prime+4%. Whereby the prime rate will be the rate as advertised by Palm Tempelton bankers. Interest will be charged immediately following the due.

 

19. Communication

  • All communication with parents will be recorded on our files.
  • All communications concerning arrangement for the payment of outstanding accounts will be confirmed in writing by Palm Tempelton and will be sent either by email or registered post to the address held on the data base.
  • Email is a guaranteed delivery service.
  • Palm Tempelton applies a best effort to ensure that all emails are sent to our Internet Service Provider but cannot guarantee that you receive such an email. The onus remains on the parent to check their email service and spam settings.
  • If you have not received expected communication (invoice, statement etc.) please contact Palm Tempelton immediately to arrange for another attempt or for printed copies.

 

20. Fee Increases

Although the directors will endeavour not to increase Centre Tuition Fees during a Centre year, it reserves the right to do so if circumstances require it.

 

An increase in fees can reasonably be expected each year to provide for inflation and other costs beyond our control and can be assumed to be in the order of 10%.

 

To minimise the price shock associated with this change in pricing policy, the programme fee adjustment will be phased in over the 2018/2019 and possibly the 2020 academic years before normal annual fee increase (approx. 10%) will resume.

 

21. Refunds and Credits

  • Any refunds or credits of Fees or Levies will be made as credits to the learner’s account and will NOT be paid over to an external account.
  • Any credit balances on the account of a learner who leaves Palm Tempelton will be refunded to the parent responsible for the account within two months after the learner has left Palm Tempelton.

 

22. Outings & Camps

  • It is Palm Tempelton policy that only learners whose account is current and in good standing may attend centre outings and / or camps.
  • We endeavour to assist so a payment arrangement can be made prior to the camp it has to be paid in full before leaving.

For all account enquires please contact the Account Department or, preferably, via email the address below:

finance@palmtempelton.co.za