Common use of Acceptance and Deposit Clause in Contracts

Acceptance and Deposit. (a) How you accept our offer of a place. An offer of a place for your child at the School is accepted by your submitting the completed Acceptance Form and paying the deposit. (b) The non-refundable status of the deposit. The deposit is not refundable if your child does not take up a place at the School. The exception to this is where the School fills the vacancy created by your child’s withdrawal, in which case the School shall refund the deposit to you less its costs in administering your dealings with the School or a reasonable estimate of those costs. (c) How we use the deposit. The deposit will form part of the general funds of the School until it is repaid without interest to you, after deduction of any other sums due to the School, after your child leaves the School. PLEASE READ THIS NEXT SECTION CAREFULLY – it deals with what you need to do if you wish to withdraw your acceptance of a place before your child joins the School and what happens if you withdraw at that stage. The cancellation of a place which has been accepted can cause losses to the School, especially if it occurs after other families have taken their decisions about schooling for their children as it means we are less likely to fill the place. This is why we require the period of notice referred to here for a withdrawal, and why different consequences follow depending on whether we get that period of notice or not.

Acceptance and Deposit. (a) How you accept our offer of a place. An offer of a place for your child at the School is accepted by your submitting the completed Acceptance Form and paying the deposit. (b) The non-refundable status of the deposit. The deposit is not refundable if your child does not take up a place at the School. The exception to this is where the School fills the vacancy created by your child’s withdrawal, in which case the School shall refund the deposit to you less its costs in administering your dealings with the School or a reasonable estimate of those costs. (c) How we use the deposit. The deposit will form part of the general funds of the School until it is repaid without interest to you, after deduction of any other sums due to the School, after your the child leaves the School. PLEASE READ THIS NEXT SECTION CAREFULLY – it deals with what you need to do if you wish to withdraw your acceptance of a place before your child joins the School and what happens if you withdraw at that stage. The cancellation of a place which has been accepted can cause losses to the School, especially if it occurs after other families have taken their decisions about schooling for their children as it means we are less likely to fill the place. This is why we require the period of notice referred to here for a withdrawal, and why different consequences follow depending on whether we get that period of notice or not.