Credit Agreements exceeding 4 instalments in any one year, are regulated by the Consumer Credit Act 1974. The University holds a Consumer Credit Licence as some tuition fees can be paid monthly throughout the year and are collected in 7 or more instalments. The following credit agreement operates for all relevant instalment plans.
Terms of the credit agreement
- Payments
You agree to make the total payments as shown by the Enrolment and Fee Payment process.
This Agreement shall only become binding on your behalf and shall be deemed to be made on the date on which you enrol.
The first payment will become due at the beginning of the month following the beginning of the course. Subsequent payments will be calculated so that you pay the balance of the fees by equal monthly instalments over the period of the course.
- Failure to Pay
If you fail to pay any amount under this Agreement we may charge you for our expenses and legal costs in taking steps, including court action, to obtain payment.
- Interest on Unpaid Amounts
We retain the option to charge interest on any amount under this agreement from the due dates of the payments to the date on which it is paid. The rate of interest will be 4% above the base rate of the National Westminster Bank plc from time to time in force. This option will not be exercised where late payment is due to our failure to collect amounts on due dates.
- Varying the Terms of Agreement
In the event of our agreeing with you any changes to this Agreement, such as due dates or amounts payable, this will not affect our legal rights under this Agreement.
- Assignment
You may not transfer or dispose of your rights under this Agreement. We may transfer to another person our rights, or our rights and duties under this Agreement.
- General Terms and Conditions
You are also bound by our general Policies and Procedures as listed above.
IMPORTANT — YOU MUST READ THIS CAREFULLY
YOUR RIGHTS
The Consumer Credit Act 1974 covers this Agreement and lays down certain requirements for your protection which must be satisfied when the Agreement is made. If they are not, the creditor cannot enforce the Agreement against you without a Court Order.
The Act also gives you a number of rights. You have a right to settle this Agreement at any time by giving notice in writing and paying off all amounts under the Agreement.
If you would like to know more about the protection and remedies provided under the Act, you should contact either your local Trading Standards Department or your nearest Citizens Advice Bureau.