Payment, AR, Withdrawl/Dismissal Policy

Payments, Accounts Receivable &
Withdrawal / Dismissal Policy

Last Update: January 2016

TERMS OF PAYMENT

1. Enrollment Contract

A student will be enrolled for the 2016-2017 year upon receipt of a completed enrollment contract. The contract must be accompanied by the following:

a) non-refundable deposit fee

b) pre-authorized payment form, void cheque, or credit card authorization

c) one time non-refundable enrollment fee of $2000 (where applicable)

2. NSF Fee

A $40 fee will be charged on all NSF/returned payments

3. EFT Changes

A $20 fee will be charged for all changes to EFT payment information received after the specified required notice date of four (4) business days before the first of the month.

4. Overdue Accounts

TWS is a non for profit organization and is reliant upon the prompt payment of fees for operating expenses. Interest will be charged on overdue accounts at a rate of 18% per annum (1.5% per month).

Should an account remain outstanding for 60 days past the due date, TWS reserves the right to cancel enrollment and in this event, the amount outstanding and the balance of the fees for the year will become immediately due and payable.

5. General Payment Terms

All payments/charges are due immediately and any arrears/replacement payments must be paid along with any applicable charges.

6. Withdrawal/Dismissal Policy

In the event a child withdraws from the school before December 31, parents are responsible for the full tuition up to that date. In the event a child withdraws after December 31, parents are responsible for the full tuition of the academic year.

The school reserves the right to ask for the withdrawal of a child, in which case tuition fees will be reimbursed on a pro-rated basis.

7. Information collected

can be shared with credit reporting agencies, credit bureaus, collection agencies or related organizations.