General terms and conditions for:
Payment Full-time MBA programme
For the Full-time MBA programme a (non-refundable) commitment fee of 4000 euro must be paid before the due date mentioned on the invoice. 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.
Payment Masters programmes
For the Masters programmes a (non-refundable) commitment fee of 4000 euro must be paid before the due date mentioned on the first invoice. For students who are subject to visa requirements, and who have been awarded a scholarship, the commitment fee amounts to 1500 euro. You will receive a second invoice, for the remaining tuition fee, which should be paid before the start of the programme. In case of payment in instalments, the outstanding tuition 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.
Payment Executive MBA programmes
For the Executive MBA programme (Combi or Weekend), 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:
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.
Payment Doctorate in Business Administration
For the Doctorate in Business Administration programme, the payment of the total tuition fee will be spread over a period of five years as follows: 20.000 euro in the first year; 10.000 euro in the second year; 10.000 euro in the third year, 10.000 euro in the fourth year and 10.000 euro in the fifth year. The tuition fee of the first year includes a non-refundable commitment fee of 5.000 euro. Depending on the nature of the person who will pay for the programme, the invoicing will take place as follows:
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.
In case the invoice concerning the tuition fee should - by choice of the student - be sent to another person (natural or legal person) than the student, the student will remain liable for the payment of the tuition fee should this other person for whatever reason not pay the tuition fee of the student (anymore).
Programme suspension MBA & Masters Programmes
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.
Special suspension arrangements MBA & Masters Programmes
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.
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.
Discontinuation Doctorate in Business Administration
If a participant decides to discontinue the DBA programme during or before the end of the commitment stage, he/she/they must notify the DBA programme director in writing of his/her/their decision. There are no further financial commitments except for the non-refundable commitment fee of 5.000 euro. You receive a proof of participation in the Introduction to academic research course.
If a DBA participant wishes to discontinue his/her/their studies after the commitment stage, he/she/they must notify the DBA programme director in writing of his/her/their decision. The participant will be charged the entire tuition fee for the year he/she/they is currently enrolled in. A document will be provided that gives an overview of the completed programme components.
Vlerick Business School can also request the participant to discontinue his/her/their studies. This decision will be duly argumented based on the annual progress report or the doctoral seminar and officially ratified by the doctoral committee. The DBA programme director will notify the participant in writing of this decision. The tuition fee for the respective year will be waived pro rata temporis.
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.
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.
Last update: 16 April 2019