Week 8 SOP

Created: June 2010 Policy Owner: ADF Modifed: November 2014 Version: 3 Review Date: November 2015 Page 1 of 3 This online version is a controlled document. Any printed versions are considered uncontrolled versions of the document.

Accounts Receivable Policy and Procedure - Student Accounts

Policy Blue Mountains International Hotel Management School Pty Limited (BMIHMS PL) trading as Blue Mountains International Hotel Management School (BMIHMS) to be known as ‘the School’, has this procedure in place to define the responsibility and authority in relation to policies, principles and procedures applying to invoicing, payment and collection of student accounts/accounts receivable. Coverage This policy and procedure applies to the Leura and Sydney Campuses and, if applicable, wherever BMIHMS programs are delivered. Purpose and Scope The purpose of this policy is to define the process for student account invoicing, payments and collection. Responsibilities Accounts Receivable Officer(s) (ARO): responsible for completion of invoicing, processing of student payments and necessary follow up and collection of outstanding accounts Assistant Director Finance (ADF): overall responsibility for the policy and procedures Head of School/Deputy Head of School (HOS/DHOS): responsible for advising student enrolment mapping to Student Services Department Sales and Marketing Department: responsible for the forwarding of invoices to new students and collection of amounts owing by start of term Student Services Department (SS): ensures all students are correctly enrolled based on mapping provided by HOS/DHOS Procedure Invoicing – New Students

x Once a student has accepted the initial School Letter of Offer (LOO), an invoice for the first term of study will be prepared by the ARO and issued to the student via the Sales and Marketing team.

x The invoice must be paid by the Payment Due Date specified in the invoice (usually 21 days before start of term), but in any event all fees and charges must be paid before the start of term.

x The Sales and Marketing team will be responsible for ensuring that all new student invoices are paid before start of term; in certain situations the Director Sales and Marketing can approve an initial payment arrangement for the first term’s fees – please refer to the separate Fee Instalment Plan and Debt Arrangement Policy and Procedure – all such plans must be submitted to the ARO on approval and must be adhered to.

Invoicing – Continuing and Returning Students

x ARO will prepare invoices for the upcoming term of study, based on the current enrolment mapping and applicable non-tuition charges less any eligible discount or scholarship approved. Invoices will be prepared and despatched normally during week 5 of the preceding term or at the latest 30 days prior to the Payment Due Date.

x The invoice must be paid by the Payment Due Date specified in the invoice (usually 21 days before start of term), but in any event all fees and charges must be paid before the start of term.

Created: June 2010 Policy Owner: ADF Modifed: November 2014 Version: 3 Review Date: November 2015 Page 2 of 3 This online version is a controlled document. Any printed versions are considered uncontrolled versions of the document.

Payments x Students are responsible for ensuring payment by the Due Date and that there are sufficient

payment details provided (Student Name or Student Id#) to ensure proper identification. x Current Payment Options (bank transfer, credit card, direct deposit etc.) will be contained in

each student invoice. x ARO will be responsible for processing of all student payments and applying them to each

student’s account. In the event that a payment is unable to be identified it will be placed in an unidentified account pending resolution. In the event that a student believes that their account has been paid they will be required to provide supporting documentation for the funds transfer/payment to enable identification and in need tracing of the payment in the banking system.

While Students are permitted to change their enrolments up until Census Date of each term, they should carefully note the School’s Refund Policies – Student Tuition Fees Refund Policy and Procedure and Deposit and Accommodation Bond Refund Policy and Procedure. Payment Arrangements

x As noted above, New Students may obtain approval from the Director Sales and Marketing for an initial Instalment Plan. This Instalment Plan must be adhered to; otherwise the full amount owing will be due and Payable – see the Fee Instalment Plan and Debt Arrangement Policy and Procedure.

x International students from certain countries may be eligible to obtain funding or loans from their government and certain payment flexibility will be allowed depending on the timing of the government funding. At all times, however, the student is responsible for ensuring that the School is fully informed as to the timing and amount of that funding. Nevertheless, it remains the student’s responsibility to ensure their account is up to date. Non-payment procedures, as noted below, could still apply.

x In the event that a continuing or returning student is experiencing severe financial difficulties the ADF may approve an Instalment Plan or Debt Agreement that must be strictly complied with. Otherwise, the full amount owing will be due and payable – see the Fee Instalment Plan and Debt Arrangement Policy and Procedure – and an administration charge of $500 will apply to all instalment/debt arrangements.

x For further hardship assistance, students should also refer to the Financial Assistance Policy and Procedure.

Collection Procedures Any student whose account remains outstanding at the start of term will be advised in writing of the consequences of non-payment, including:

x Removal of access to School services such as class attendance, IT services, Library, withholding of academic results and graduation eligibility;

x Late Fee of $500; x In the case of international students, a condition of the Australian Government student visa is

that the student must remain financial at all times. Breach of this will result in a Notification of Intention to Report to the Department of Immigration and Border Protection (DIBP);

x Legal action for recovery using the School’s Debt Collection Agency. Related Information and Forms Deposit and Accommodation Bond Refund Policy & Procedure Fee Instalment Plan and Debt Arrangements Policy & Procedure Financial Assistance Policy & Procedure

Created: June 2010 Policy Owner: ADF Modifed: November 2014 Version: 3 Review Date: November 2015 Page 3 of 3 This online version is a controlled document. Any printed versions are considered uncontrolled versions of the document.

Student Tuition Fees Refund Policy & Procedure Comments November 2013: Substantial rewrite based on changed procedures, systems and responsibilities November 2014: edited Policy text regarding ‘the School’ name; edited Coverage text to state Leura and Sydney campuses and wherever BMIHMS programs are delivered; Assistant Director Student Services replaced with Assistant Director Finance as policy owner; Department of Immigration changed to Department of Immigration and Border Protection.