We
undertake a Student Protection Scheme
(SPS) as stipulated by the Consumers
Association of Singapore (CASE) by
way of a Student Tuition Account (Escrow).
We have entered into a Master Escrow
Agreement between CASE and the DBS
Pte Ltd and a copy of the Private
Education Organisation (PEO) Escrow
Establishment Certificate is available
here Master
Escrow Agreement (PSB Technologies)/ Master
Escrow Agreement (NOVO SCHOOL).
The Master Escrow Agreement sets out,
inter alia, the details upon which
we have established an escrow account
with the DBS Pte Ltd for the purposes
of receiving payment of the student
tuition fees and the circumstances
in which the amounts in the escrow
account shall be payable to us and/or
the student.
The SPS serves to protect the students’
tuition fees in the event that:
|
Discontinues
operations due to insolvency
|
|
Discontinues operations due
to regulatory closure |
 |
Fails to
pay penalties or return fees
to students arising from judgements
made against it by the Singapore
courts. |
For
local students, the School will grant
the Student the option to enjoy the
benefits of the Student Protection
Scheme (SPS) and this option is clearly
indicated in the Student Contract.
Local students who opt for the SPS
will have to bear the cost arising
from the SPS.
