Payment Terms

General Principle

All financial dealings between an accredited school and WEQSC are conducted transparently, in accordance with the WEQSC framework, and in a manner that permits both parties to reconcile their records.

WEQSC does not accept, and does not permit, any payment in cash. All payments are made through traceable channels.

Payment Methods

WEQSC accepts payment by:

• International bank transfer (SWIFT);
• Credit or debit card through the secure payment facility in the Institution Management Portal;
• Any other method notified by WEQSC through the Portal.

A processing fee may apply to payments by credit or debit card. The applicable rate is notified through the Portal.

Currency

Fees are invoiced in Euros (EUR) . Where a fee is paid in a currency other than EUR, the conversion is calculated at the rate published by the Swiss National Bank on the date of payment. The applicable rate is locked for the transaction at the time of payment.

All bank charges, transfer fees, and currency conversion costs are borne by the payer. The amount received by WEQSC must equal the amount invoiced.

A payment is deemed received on the date on which cleared funds are credited to the WEQSC account, not on the date on which the transfer was initiated.

Billing Cycles

Examination fees are ordinarily billed on the basis of the examination registration submitted by the school through the Portal, not less than thirty days before the examination date.

Accreditation fees are billed in accordance with the terms set out in the Accreditation section of this portal.

Invoicing

WEQSC issues invoices through the Institution Management Portal. A copy is sent by email to the Senior Officer and to the Principal Portal User.

An invoice states:

• The fee to which it relates;
• The period covered;
• The amount in EUR;
• The amount in any other currency if applicable;
• The due date;
• The payment methods available;
• The reference number of the invoice.

An invoice is deemed received on the date it is made available in the Portal. A school that does not access the Portal is not thereby excused from the due date.

Receipts and Reconciliation

WEQSC issues a receipt for each payment received, within two business days of the payment being credited to its account. The receipt is issued through the Portal and is accessible to the school at all times.

WEQSC issues an annual reconciliation statement to each accredited school, ordinarily in January, showing all amounts invoiced, all payments received, and the net balance.

A school must reconcile its own records with the WEQSC annual reconciliation statement and notify WEQSC of any discrepancy within thirty days of receiving the statement.

Grace Period and Late Payment

A grace period of thirty days following the due date applies to all fees. No penalty is imposed during the grace period.

After the grace period, a late payment penalty may accrue, and the school may be placed on Provisional Accreditation, subject to the terms set out in the Accountability section of this portal.

A school that is suspended for non-payment of fees may not enrol new WISE candidates, may not issue new WISE credentials, and must notify its parents and students of the suspension in writing within seven days.

Suspension for non-payment is lifted upon payment in full of the outstanding amount together with any penalty that has accrued.

Instalment Arrangements

A school may apply to pay accreditation fees in instalments, subject to the terms notified by the Secretariat. An application for instalment payment must be made before the due date of the first instalment.

Where an instalment arrangement is in place and a school fails to pay an instalment on its due date, the whole of the outstanding amount becomes immediately payable, and the late payment provisions apply to the whole amount from that date.

Refunds

Fees paid to WEQSC are non-refundable, save as specified below.

A refund is made where:

• A school has made an overpayment, whether by reason of an error in invoicing, a currency adjustment, or any other cause. The refund is made within thirty days of the overpayment being identified;
• A candidate has paid an examination fee and is subsequently found to be exempt. The fee is refunded in full, or credited against future fees, at the school's election.

A refund is not made in respect of:

• Accreditation fees upon termination, suspension, or voluntary withdrawal of accreditation during the cycle;
• Annual fees for a period during which accreditation subsists;
• Any other fee where the service to which the fee relates has been provided.

Conclusion

The payment terms set out in this page ensure that the financial relationship between the accredited school, the candidate, and WEQSC is conducted transparently and efficiently. All payment procedures not expressly set out in this portal must follow the Secretariat's official bylaws.