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Promissory Note For Tuition Fee With Partial Payment
"I need a Promissory Note For Tuition Fee With Partial Payment for a Qatar-based international school, where parents will pay the annual tuition fee of 45,000 QAR in four installments starting January 2025, with provisions for late payment penalties that comply with Islamic finance principles."
1. Identification of Parties: Details of the maker (student/guardian) and payee (educational institution)
2. Unconditional Promise to Pay: Clear statement of promise to pay the specified amount
3. Principal Amount: Total tuition fee amount in both numbers and words
4. Payment Schedule: Detailed breakdown of partial payment dates and amounts
5. Place of Payment: Specific location or method where payments should be made
6. Date of Issue: Date when the promissory note is executed
7. Due Date(s): Final and intermediate payment due dates
8. Signature Block: Space for maker's signature and authentication requirements
1. Late Payment Terms: Include when specific penalties or consequences for late payments need to be outlined (ensuring Sharia compliance)
2. Acceleration Clause: Include when early payment options or default-triggered full payment requirements are needed
3. Guardian Guarantee: Include when the student is under 18 or when additional security is required
4. Currency Specification: Include when payments might be made in multiple currencies or when currency conversion might be relevant
5. Force Majeure: Include when specific circumstances for payment adjustment need to be addressed
6. Dispute Resolution: Include when specific dispute resolution procedures need to be outlined
1. Payment Schedule Details: Detailed breakdown of payment installments, dates, and amounts
2. Course/Program Details: Specification of educational program or courses covered by the tuition fees
3. ID Documents: Copies of relevant identification documents of the maker and/or guardian
4. Terms and Conditions: Additional terms and conditions of the educational institution regarding tuition payments
Authors
Education
Higher Education
Private Schools
Professional Training
Financial Services
Legal Services
Educational Consulting
Finance
Legal
Admissions
Student Services
Administration
Compliance
Accounts Receivable
Enrollment Management
Registration
Finance Manager
Registrar
Admissions Officer
Bursar
Financial Controller
Legal Counsel
Education Administrator
Accounts Receivable Manager
Student Affairs Director
Compliance Officer
Chief Financial Officer
Enrollment Manager
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