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Master Fee Protection Agreement

Master Fee Protection Agreement Template for Singapore

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Key Requirements PROMPT example:

Master Fee Protection Agreement

"Need a Master Fee Protection Agreement for our new private education institution in Singapore, using an insurance-based protection scheme, to be effective from March 2025 and covering both local and international students with annual fee collection of approximately SGD 2 million."

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Document background
The Master Fee Protection Agreement serves as a cornerstone document in Singapore's private education sector, mandated by the Private Education Act 2009. This agreement is essential when private education institutions need to implement fee protection measures for student funds. It details how student fees are protected either through insurance or escrow arrangements, ensuring compliance with regulatory requirements and protecting student interests. The agreement typically includes comprehensive coverage terms, claim procedures, and specific obligations for all parties involved, making it a crucial document for educational institutions operating in Singapore.
Suggested Sections

1. Parties: Identification of the contracting parties (PEI and FPS provider)

2. Background: Context of the agreement and regulatory framework under Private Education Act 2009 and CPE requirements

3. Definitions: Key terms used throughout the agreement including FPS-specific terminology

4. Fee Protection Mechanism: Details of chosen protection method (insurance or escrow) and implementation

5. Coverage Terms: Scope and extent of fee protection, including maximum coverage amounts

6. Payment Terms: Fee collection and processing procedures, including timing and methods

7. Obligations of Parties: Detailed responsibilities of each party including regulatory compliance requirements

8. Term and Termination: Duration of agreement and conditions for termination or modification

9. Dispute Resolution: Procedures for handling disputes and applicable jurisdiction

10. Governing Law: Specification of Singapore law as governing law and relevant regulations

Optional Sections

1. Insurance-Specific Terms: Detailed terms specific to insurance-based FPS, including coverage limits and claim procedures

2. Escrow-Specific Terms: Detailed terms specific to escrow-based FPS, including bank arrangements and disbursement procedures

3. International Student Provisions: Additional protections and requirements for international students

4. Data Protection Clause: PDPA compliance requirements and data handling procedures

Suggested Schedules

1. Schedule 1 - Fee Schedule: Comprehensive breakdown of protected fees and payment structure

2. Schedule 2 - Claim Procedures: Detailed process for making and processing claims under the FPS

3. Schedule 3 - Required Forms: Standard forms and templates for FPS administration

4. Schedule 4 - Service Level Agreement: Performance standards, metrics, and reporting requirements

5. Schedule 5 - Regulatory Compliance Checklist: Checklist ensuring compliance with CPE requirements and relevant regulations

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Clauses
Appointment of FPS Provider
Fee Protection Mechanism
Scope of Protection
Payment Terms
Claims Process
Provider Obligations
PEI Obligations
Representations and Warranties
Recordkeeping
Compliance Requirements
Reporting Obligations
Confidentiality
Data Protection
Term and Renewal
Termination
Force Majeure
Dispute Resolution
Governing Law
Indemnification
Insurance Requirements
Notices
Assignment
Amendment and Variation
Entire Agreement
Severability
Student Refund Procedures
Service Level Requirements
Audit Rights
Regulatory Compliance
Fee Schedule Updates
Industries

Private Education Act 2009: Primary legislation governing private education institutions in Singapore, establishing the regulatory framework for fee protection

Private Education Regulations: Subsidiary legislation providing detailed requirements for implementing the Private Education Act

CPE FPS Requirements: Specific requirements set by Committee for Private Education regarding Fee Protection Scheme implementation and maintenance

Consumer Protection (Fair Trading) Act: Legislation protecting consumer rights and fair trading practices applicable to educational services

Contract Law (Chapter 2): Singapore's fundamental contract law governing formation and enforcement of agreements

Personal Data Protection Act 2012: Legislation governing the collection, use, and disclosure of personal data in Singapore

MAS Notice 3001: Monetary Authority of Singapore regulations regarding escrow account arrangements for fee protection

FPS Insurance Requirements: Specific requirements for implementing fee protection through insurance schemes

FPS Escrow Requirements: Requirements for implementing fee protection through escrow account arrangements

Disclosure Requirements: Mandatory information that must be disclosed to students regarding fee protection arrangements

Record Keeping Requirements: Obligations for maintaining proper records of fee protection arrangements and student payments

Refund Policy Requirements: Mandatory provisions regarding refund conditions, timelines, and procedures

Cooling-off Period Provisions: Required provisions for student withdrawal and refund during the cooling-off period

Dispute Resolution Requirements: Mandatory mechanisms for handling disputes related to fee protection

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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