Refund Cancellation policy Of IIIEM Exim Training Private Limited


1. Purpose

To ensure ''IIIEM Exim Training Private Limited'', hereby known as the ''Company'', delivers a transparent, effective and efficient Student Fee Refund Process.

2. Scope

This policy applies to past Students, current Students and Applicants, their Authorised Representatives and/or Official Sponsors seeking a refund of Student Fees. The Refund of Student Fees Policy applies to all Program Fees, Student Contribution Amounts and Program Money received by the company, or a third party acting under contract on behalf of the company, and applies equally to Monies received either directly or indirectly from the Student.

This policy also applies to refunds relating to Miscellaneous Student Fees, deposits, Fines and Charges as defined, payment received for books, videos, study materials, etc.

Any person, seeking a refund from the company within the scope of the policy, is hereby referred as the ''Student'' in the policy.

3. Policy statement

The Company will conduct all Student Fee refunds ethically, honestly and with fairness to all parties. This Policy will be applied equally, in the context relevant to the circumstance, to all Students, past Students including International Students.

4. Principles

The company will:
  1. Ensure its refund of student fees policy is publicly available to all students and applicants.
  2. Include a clause in all Education partner contracts (including admission / support offices) regarding the refunding of program fees received for enrolment purpose. To ensure that education partner''s refund policy is in consistence with the refund policy of the company.
  3. Develop student complaint management system and review of decision procedures for issues regarding student fee refunds.

5. Grounds for a refund

5.1 A student, who withdraws their enrolment before the date of induction lecture, or first lecture in case of being no induction lecture, is eligible for a refund of monies paid upfront for that program.
  1. A student, who pays a token amount for registration of a program, or any of the programs, and pays full fee before the date of induction lecture, or first lecture in case of being no induction lecture, is eligible for a discount as per the company policy. The amount of discount will solely depend on the discretion of the branch manager, within the limits stated as per the company policy.
  2. A student, who pays full fees without deducting the discount, before the date of induction lecture, or first lecture in case of being no induction lecture, is eligible for a discount. The amount of discount is on the discretion of the branch manager, within the limits stated as per the company policy.
  3. A student, who unintentionally or unknowingly pays more amounts of fees than the fees prescribed at that point of time, for the particular program he or she is enrolling in to, is eligible for the refund.
  4. Any student, making a payment to purchase books, videos, study material from the company and not receiving the same within 21 days of payment clearance, will be eligible for the refund of the full monies paid for the same.
  5. The offer of a place to a student is withdrawn by the company or the company is unable to provide the program. The student is entitled to a refund of the monies paid in advance for the program.
The company may refuse to provide or continue to provide a program to a student in one or more of the following circumstances:
  1. The student, or their official sponsor, failed to pay an amount he or she was liable to pay to the company, directly or indirectly, in order to undertake the program;
  2. Misconduct by the student in accordance with the company policies on misconduct

6. Establishing the amount for a refund

The company reserves the right to subtract certain amount from the program money paid by the student, while refunding the same. That certain amount will be no more than totalling of:

  • Proportion of the monies received in respect of the service tax, VAT, CST or any other local taxes, as applicable;
  • Administration expenses totalling no more than, Rs. 3000/- (Rupees three thousand only) or 5% of the program fee, whichever is higher;
  • The cost of books, equipment and other materials, needed for the program;
  • Any other bank charges incurred by the company, while receiving the fees from the student or while paying the refund, including service tax on such charges levied.

Where the company gives partial refund to a student, it will provide a statement on the method of calculation of the amount, including fees and /or charges deducted.

7. Refund of overseas student

Refund to an overseas student, paying in foreign currency' (defined for the policy as any currency other than Indian rupees), will be done after deducting the charges as described in point 6, in addition to, foreign exchange rate difference between the date of receiving the payment and the date of payment of the refund, if company is set to incur any such foreign exchange loss due to that transaction.

8. Requesting a refund

All requests for the refund are to be made in writing or by an email. If the request is in writing, the physical copy of request should be sent to the concerned branch manager. If the request is via email, it should be sent to fin.iiiem@gmail.com, marking a cc to the concerned branch manager.

It is mandatory for the student has to provide following bank details correctly:

  1. Name as mentioned in the account
  2. Bank account number
  3. Name of the bank
  4. Name of the branch of the bank
  5. IFSC code
  6. Swift code (in case of international student)

In addition, the accounts department may require proof of identity of the student, pan number, or any details regarding student's enrolment / withdrawal / cancellation for the program from the student, as required.

9. Refund processing time

Refund processing time The refund, once approved by the branch manager and communicated to the student in writing or by an email, will be processed within 10 days of such communication. The branch manager will need inform accounts department at Head office by an email or mark a cc to fin.iiiem@gmail.com, while communicating with the student. Proper and correct bank details of student, as mentioned in point (8) should be mandatorily given to the accounts department.

If the payment is not processed within 10 business days of such communication, the student is entitled to receive interest at the rate of 12% simple interest per annum on the amount of refund.

10. Refund payment method

  • The refund will be processed by means of NEFT / RTGS or the student will be given a cheque of the same.
  • In case of the cheque, for counting 10 days as per point (9) delivery date of the cheque to student will be counted and not the date of clearance.
  • If the cheque expires, due to non-deposition within 3 months of date written on cheque, the refund will be considered void ab initio, and the student will not be entitled to any refund or interest.

11. Review of a decision

A student, their authorised representative or an official sponsor may request a review of decision with branch manager in relation to a student fee refund where the student or an official sponsor considers that the company has not assessed or processed the refund request in accordance with this policy, or not all relevant information was taken into account when the refund was assessed.

Where the student, their authorised representative or official sponsor is not satisfied with the attempt at resolution with branch manager, or is uncomfortable with attempting a resolution with the branch manager, may lodge a formal request for review for decision with the accounts and finance department.

Where a student agrees to the terms of this policy, such agreement, and the availability of review of decision procedure, does not remove the right of the student, their authorised representative or their official sponsor to take further action under India's consumer protection laws.