We have in place a Student Protection Scheme (SPS) as stipulated by the Consumers association of Singapore (CASE) by way of a Student Tuition Fee Account (Escrow)/(Insurance).
Student Tuition Fee Account (Escrow)
We have entered into a master escrow agreement between CASE and the Development bank of Singapore (DBS) Limited (the “Master Escrow Agreement”). The PEO Accession Letter with DBS is also available for viewing on our website at www.apmi.edu.sg . The Master Escrow Agreement sets out, inter alla, the details upon which we have established an escrow account with the Development bank of Singapore 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 Agreement shall be payable to us and /or the Student.
Student Tuition Fee Account (Insurance)
Our Student Tuition Fee Insurance Scheme with NTUC Income indemnifies students for their tuition fees paid in advance under these circumstances:
- in the event that the PEO is not able to continue its operations due to insolvency and /or regulatory closure
- if the PEO fails to pay penalties or return fees to the students arising from judgements made by the Singapore courts
- and in the event upon death or total permanent disability of the student
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