STUDENT PROTECTION SCHEME
CASETRUST FOR EDUCATION
CaseTrust for Education, launched on 1 September 2005,
aims to recognise Private Education Organisations (PEOs)
that have good student welfare practices and high quality
standards with the following mechanisms in place:
- Clear course fee policies
- Well-defined student redress practices and systems
- Disclosure of its commitment to quality
- Assurance of well-trained academic and administrative
personnel
It is a collaborative project of the Consumers Association
of Singapore (CASE), Economic Development Board (EDB), SPRING
Singapore , Singapore Tourism Board (STB) and the Infocomm
Development Authority of Singapore (IDA). This scheme forms
part of the Education Excellence Framework by the Singapore
government to provide the highest possible standards of
academic, organizational and student protection and welfare
practices.
The CaseTrust for Education is mandatory for all PEOs with
international students. It came into effect from 1 December
2004.
STUDENT PROTECTION SCHEME
Under CaseTrust for Education, the PEO must provide a Student
Protection Scheme (SPS) for all international students.
The SPS serves to protect the international students' fees
in the event that a PEO is unable to continue operations
due to insolvency and/or regulatory closure. Furthermore,
the SPS protects the student if the PEO fails to pay penalties
or to return fees to students arising from judgments made
against it by the Singapore Courts.
Scitech has put in place the Student Tuition Fee Account
(ESCROW) as its SPS for international students. The Student
Tuition Fee Account offers students protection against the
following events:
- PEO is unable to continue operations due to insolvency
and/or regulatory closure,
- unable to pay penalties,
- unable to return fees to students arising from judgments
made against it by the Singapore courts.
MASTER ESCROW AGREEMENT
A copy of the Master Escrow Agreement dated 9 September
2004 between CASE, DBS Bank Ltd and The HongKong and Shanghai
Banking Corporation Limited and acceded to by Scitech on
9 September 2004. The Master Escrow Agreement sets out,
among other things, the details upon which Scitech Language
School shall establish an Escrow account with DBS Bank Ltd/
HongKong and Shanghai Banking Corporation Limited* (the
"Escrow Account" with the "Escrow Bank")
for the purposes of receiving payment of the Student's
Tuition Fees and the circumstances in which the amounts
in the Escrow Account shall be payable to Scitech Language
School and/or the Student. Scitech Language School
and the Student hereby agree that:
- The Student shall execute a Student Escrow Confirmation
in a form acceptable to the Escrow Bank (the "Student
Escrow Confirmation") within seven [7] days of the
date of this Agreement and deliver a copy of the same
to the Escrow Bank within three (3) business days of it
being so executed;
- Scitech Language School shall issue payment vouchers,
not less than thirty (30) days prior to the Commencement
Date, to the Student in accordance with the terms of the
Master Escrow Agreement and the Student shall submit such
payment vouchers together with any payment made under
Clause 3.2(iii). (please refer to the Standard Student
Contract); and
- The Student shall pay the Tuition Fees directly into
the Escrow Account on or before the dates specified in
Schedule 2.1 (please refer to the Standard Student Contract).
NO DOUBLE CLAIM
For the avoidance of doubt, if the Student and/or his/her
parent/guardian receives any payment from Scitech Language
School or the Escrow Bank pursuant to a provision of this
Agreement or the Master Escrow Agreement in respect of any
matter or damage, then the Student and his/her parent/guardian
shall not be entitled to claim against the Scitech Language
School or the Escrow Bank for the same payment in respect
of the same matter or damage pursuant to any other provision
of this Agreement or the Master Escrow Agreement.
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