Terms and Conditions Degree Programmes
General terms and conditions for:
- Full-time MBA
- Executive MBA
- Masters in Financial Management
- Masters in General Management
- Masters in Marketing Management
- Masters in International Management & Strategy
- Masters in Marketing Management
For each full-time programme a (non-refundable) commitment fee amounting to 25% of the total tuition fee (scholarships left aside) must be paid before the due date mentioned on the invoice. Students with a Prodigy loan will be paid back the commitment fee. The remaining tuition fee should be paid before the start of the programme or, in case of payment in instalments, the remaining fee should be paid in 3 separate instalments before the following due dates: 30 November, 28 February and 30 April. Payment in instalments is only possible subject to a signed contract drawn up for that purpose and the payment of an administrative cost of 250 euro.
For the Executive MBA programme, the payment of the total tuition fee may be spread over a period of two years as follows: 25.000 euro in the first year and the remaining tuition fee in the second year. Depending on the nature of the person (natural or legal person) who will pay for the programme, the invoicing will take place as follows:
- In case of payment of the Executive MBA programme by a legal person, the invoice for the first and the second year of the programme with a payment term of 30 days after the invoice date will be sent to the address of the company (as mentioned on the registration form).
- In case of payment of the Executive MBA programme by a natural person, the natural person will receive one invoice for the first year and one invoice for the second year of the programme on the understanding that for the first year a (non-refundable) commitment fee must be paid amounting to 25% of the tuition fee payable for the first year. The commitment fee must be paid before the due date mentioned on the invoice. The remaining tuition fee for the first year should be paid before the start of the first year of the programme, or in case of payment of the tuition fee for the first year in instalments, the remaining tuition fee should be paid in 3 instalments before the following due dates of the first year of the programme:
- For the Executive MBA Combi with start in September: 30 November, 28 February and 30 April;
- For the Executive MBA Weekend with start in January: 30 March, 30 June and 30 September.
Payment in instalments is only possible subject to a signed contract drawn up for that purpose and the payment of an administrative cost of 250 euro. The part of the tuition fee for the second year must be paid in its entirety before the start of the second year of the programme.
Students who are awarded a scholarship will be invoiced for the part of the tuition fee that is not covered by the scholarship. Those students who had already received an invoice for the total amount of the tuition fee will receive a credit note for the amount of the scholarship.
In case of non-payment of the amounts as mentioned above, the legal interest rate will be charged, automatically, by operation of law and without declaration of default. In addition, students will also need to pay a fixed administrative fee covering the costs caused by the late payment. It is acknowledged and agreed that this fee is to be set at 10% of the total outstanding amount (excluding interest) with a minimum of 65 euro. Costs incurred by unpaid bills or bouncing cheques and any other collecting charges are not included in the fixed fee and will be charged separately.
If a student wishes to suspend his/her studies he/she must notify the programme director in writing of his/her decision. If notification is made before the start of the programme, the student will be charged 25% of the total tuition fee and will receive a refund of 75% of the total tuition fee. The student must return any copies of books he/she may have already received. If notification is made after the start of the programme, the student does not receive a refund but has the right to transfer 75% of the tuition fee for enrolment in the next academic year. The student must return any copies of books he/she may have already received. If the student wishes to subscribe to the next year, he/she will be charged the tuition fee that is valid in that academic year. This settlement does not apply if notification is made 3 months or more after the start of the programme nor if the student wishes to subscribe for another MBA or Masters programme. In these cases, the student will be charged the entire tuition fee if he/she wishes to renew his/her enrolment.
Executive MBA students who have completed the 1st year of the programme but wish to postpone the 2nd year, will be charged part 2 of the programme fee that is valid in that year.
Masters and Full-time MBA students who don’t pass for the second exam session, and wish to enrol for a second year will be charged an administrative fee of 500 EUR. They need to enrol for a second year and an invoice will be sent.
Executive MBA students who completed all coursework, except for the project, will be charged an administrative fee of 2000 euro. They need to deliver the project within 5 years as from the date of graduation of their cohort.
- Within the first exam session
Executive MBA students who did not complete all coursework within the first exam session, can complete any outstanding courses within the second exam session of that academic year without additional charges.
- Within the second exam session
Masters and Full-time MBA students who have not completed all coursework within the normal duration of the programme will be charged a fee for each course that still needs to be completed (500 euro for Masters students and 1250 euro for Full-time MBA students). In case it only concerns the submission of papers, they will be charged a flat fee of 250 euro.
Executive MBA students who have not completed all coursework within the second exam session, can do so in the following academic year in which case:
- Executive MBA students who have attended all courses but did not complete all assignments/exams, will be charged a fee of 500 EUR per non-completed assignment/exam.
- Executive MBA students who have not attended all courses, will be charged a fee of 1500 EUR per non-completed course.
- Within the following academic year
Executive MBA students who did not complete all coursework within the following academic year, have 4 more years to complete the programme (i.e. 5 years as from the date of graduation of their original cohort):
- The Executive MBA curriculum at the moment of continuation of the programme will be compared to the curriculum of the Executive MBA students’ original cohort. Executive MBA students will be exempted from all courses that are still part of the curriculum for which they obtained a final passing grade (i.e. 10/20).
- Executive MBA students must pass all courses and assignments that were not part of the original curriculum at 1500 EUR per course.
Programme continuation abroad
MBA students who have completed part of the programme in Belgium and wish to continue the remainder of the programme abroad will be charged an administrative fee of 500 EUR.
Force majeure is understood to be any failure in carrying out the agreement which cannot be imputed either to Vlerick Business School or the student, and which causes the affected party’s fulfilment of this agreement to be either impossible, or an unreasonable requirement. In case of force majeure neither party will be held liable to fulfil the terms of the agreement or to pay compensation. Force majeure includes (but is not limited to): strikes, lock-outs, industrial disputes, serious transport disruptions including breakdowns and fuel shortages, lack of telecommunication facilities, actions or inactions of public authorities, acts of violence or war, acts of terrorism, natural disasters, health epidemics and quarantines, etc. However, illness of the contracting party is expressly ruled out as a reason for claiming force majeure.
Disputes and Jurisdiction
Any dispute over an invoice must be notified in writing (by registered mail, fax with acknowledgement or e-mail with acknowledgement) to the student administration or to the accounting department of Vlerick Business School within 15 working days after receipt of the invoice.
Belgian law is exclusively applicable to these terms and conditions and to the agreement. The parties expressly acknowledge and agree that the competent courts of Ghent have sole jurisdiction over any disputes arising from either this agreement or these terms and conditions.