The AMSBS hereby confirms and undertakes to the students that it has in place a Student Protection Scheme as stipulated by the Consumers Association of Singapore (CASE) (the “SPS”) by way of a Student Tuition Fee Account (Escrow) pursuant to the terms and conditions of the CASE-PEO Agreement dated 15 July 2005 made between CASE and the School.

A copy of the Master Escrow Agreement dated 9 September 2004 between CASE, DBS Bank Ltd and The HongKong and Shanghai Banking Corporation Limited (the “Master Escrow Agreement”) and acceded to by the School on 26 April 2005.  The Master Escrow Agreement sets out, among other things, the details upon which the School shall establish an escrow account with DBS Bank Ltd (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 the School and/or the Student.

The Student acknowledges that he/she has read and has understood the terms of the Master Escrow Agreement.

The School and the Student hereby agree that:

(i)      the Student shall execute a student escrow confirmation in a form acceptable to the Escrow Bank (the “Student Escrow Confirmation”) within three (3) 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;

(ii)     the 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 (iii) below; and

(iii)    the Student shall pay the Tuition Fees directly into the Escrow Account on or before the dates specified in Schedule 2.1 of 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 the School or the Escrow Bank, The HongKong and Shanghai Banking Corporation Limited 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 School or the Escrow Bank, The HongKong and Shanghai Banking Corporation Limited 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.

Note: It is compulsory for all international students pursuing University Preparation Program to go under the Student Protection Scheme. However, local students will have the option to opt in or out of this scheme.

Enquires