Enrolments
In relation to all matters connected with the acceptance or refusal of any application for enrolment as a student of the Association and the termination of the enrolment of any student, the decision of the Council of the Association (or duly appointed committee thereof) shall be final and binding and that the ACT shall be under no liability in respect thereof.
AMCT Exemptions
When submitting an exemption enrolment or application, it is the responsibility of the applicant to provide the correct information required. Failure to do this can result in delay in application and possible invalidation. The award of all exemptions is made entirely at the discretion of the ACT. The ACT reserves the right to approve or decline any exemption be it automatic or individually reviewed. Appeals against these decisions will not be accepted. The ACT also holds the right to change its policy on exemptions at any time and will post this accordingly online.
MCT Direct Entry
When submitting an application, it is the responsibility of the applicant to provide the correct information required. Failure to do this can result in delay in application and possible invalidation. The award of direct enrolment onto the MCT Advanced Diploma is made entirely at the discretion of the ACT. The ACT reserves the right to approve or decline any application be it automatic or via the experience route. Appeals against these decisions will not be accepted. The ACT also holds the right to change its policy on direct enrolment on to the MCT Advanced Diploma at any time and will post this accordingly online. Individuals who are accepted for direct enrolment onto the MCT Advanced Diploma study programme will be exempted from the AMCT Diploma, but will not gain the designatory letters AMCT.
Bursary Application
The award of all bursaries are based on their availability and the information provided on the application forms. The awards are made entirely at the discretion of the ACT Educational Trust. Appeals against decisions will not be accepted. The ACT also holds the right to change its policy on bursaries at any time and will post this accordingly online. The bursary scheme does not cover the cost of face-to-face teaching and cannot be used as evidence of the need to enter the UK. The ACT can offer no assistance or advice on this matter.
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AMCT, Certificate and MCT Fees Policy
The fees charged by the ACT for its Education products provide the essential funding for all aspects of the education programme. This document covers our policies for course, teaching and subscription fees.
Course fees
AMCT and Certificates (excluding CertICM)
The course fee includes access to the self study online course and your first exam entry. The study materials are delivered online, studied through a course website with resources designed to support your learning. The online resources for this course include downloadable PDF versions of the course material, practical exercises, self tests and further reading materials. Each study group also has the support of a dedicated course tutor to answer questions, solve problems and offer advice through the online discussion forum. Optional tuition or revision courses can be purchased when you enrol or up to the day before the start of the teaching session.
International Cash Management (CertICM)
The course fee includes the study materials listed above, and also the printed course manual, five-day tuition school, marking of two progress tests and your first exam entry.
MCT
The course fee include the e-learning facility, online or classroom tuition, a structured discussion forum which is mediated by the course tutor, all course material including text books and other readings (online access to journals etc), assessment of two tutor marked assignments, an online discussion, a project and two examinations.
When will I receive my study material and gain access to my study site?
AMCT and Certificates (excluding CertICM)
Once you have been enrolled you will be sent a letter or email to confirm you booking and your exam entry. The study materials are delivered online through the course e-learning website, supplemented with a range of online resources designed to support your learning. You will not be sent a printed manual. Your course e-learning website will open one week before the published course start date. e-learning websites open in early April for courses examined in October and in early October for courses examined in April.
International Cash Management (CertICM)
Once you have been enrolled you will be sent a letter or email to confirm you booking and your exam entry. When your course fee is paid, the printed course manual will be couriered to your office address within 3 to 7 days for UK students and 7 to 14 days for non-UK students.
CertICM is supported by an e-learning website providing access to the course manual, progress tests, past exam papers, glossary and course tutors. Your course e-learning website will open one week before the published course start date. e-learning websites open in early April for courses examined in October and in early October for courses examined in April.
MCT
Once you have been enrolled you will be sent a letter or email to confirm you booking and your course start date and timetable. The study materials are delivered online through the course elearning website, supplemented with a text book. Your course e-learning website will open one week before the published course start date. We will email you information on how to access the site on the day the course website opens.
Tuition and revision fees (excluding ICM and MCT)
Teaching courses are between 1 and 5 days in duration. Your booking is for the full duration of the course; you cannot purchase part of a course even if you cannot attend one of the published dates. Most teaching is held in a central London venue normally near to the City of London. Occasionally we deliver or outsource teaching in international locations and the process for booking varies and can be viewed via the student study site.
Submission of a teaching booking form is confirmation of your request to attend a teaching course. Your booking is not confirmed until an invoice and confirmation letter/email has been sent to you within 7 working days of your booking. If the class is at capacity, you will be notified and added to a waiting list and only invoiced if a place becomes available.
The ACT reserves the right to withdraw, change dates and venue for the teaching courses
Annual subscription fee
AMCT and Certificate students – When you enrol on to AMCT or a Certificate course you become a Student Member and are invoiced yearly for your student membership fee (1 May – 30 April).
MCT students – When you enrol on to MCT you become a Student Member (if you are not already an Associate Member of the ACT) and are invoiced yearly for your student membership fee (1 May – 30 April). If you are an Associate Member of the ACT you will continue to pay your annual membership fee.
Payment of the annual subscription fee is a condition of remaining a student. The benefits of the subscription include receipt of The Treasurer magazine, access to the Faculties for past Certificates and regional group membership.
Payment of fees
When fees must be paid
Our terms and conditions stipulate that fees must be paid within 21 days of an invoice being raised. This applies even if you have purchased something which may not be occurring till some time in the future. DO NOT book on to a course if you are not in a position to pay within 21 days.
Paying your fees in instalments
We do not have the facility to accept payment in instalments. We expect you to be able to pay your fees on booking, or for your employer to have agreed to pay some or all of the fees.
What happens if you don’t pay your fees
The contract is between the ACT and you, even if your employer is paying the fees. In the event of delays in payment by an employer, the responsibility for expediting the payment rests with the student. If fees remain unpaid, you will not be entered for examination and risk cancellation. Cancellation means that you are no longer a student of the Association, and can only be reinstated on payment of your outstanding fees and student subscription.
International student paying VAT
We are obliged to charge you VAT wherever you live. We are supplying a qualification for which the point of delivery is legally deemed to be the UK and for this reason VAT is chargeable to anyone who takes one of our qualifications. We cannot negotiate this or waive the VAT in any case.
Additional fees
Postal charge – International Cash Management (non-UK students)
Postage and packaging is charged for delivery of the printed CertICM manual to non-UK students.
Paying a venue fee for the exams (non mainland UK students)
If you sit your exams outside of mainland UK (excluding Dublin) you are responsible for any fees charged by the local exam venue for hosting your exam. The venue will be able to advise you on what costs are applicable.
The ACT does not have any control over these costs – they are at the discretion of the venue and are payable directly to the venue. It is not necessary to arrange your exam or pay your local venue when you enrol; we will write to you about this and provide you with the necessary information ten weeks before the exam.
Paying re-sit fees
If you fail or are absent from an examination and wish to sit again (within the rules and regulations detailed in the Student Handbook), a re-sit fee is payable.
- Re-sit fees are posted with your examination results confirmation letter. These invoices are pre dated and for re-sit fees only, you have 21 days after receipt to settle this invoice.
- Your re-sit examination cannot be confirmed until the re-sit fee is paid.
- The re-sit fee covers all the costs associated with arranging and marking the examination.
We are unable to process a deferral request if there are any outstanding fees. This applies even if you intend to take the exam at the next sitting.
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This Refund Policy applies to all Education course invoices dated on or after 17 March 2010, and until further notice.
Withdrawing from your course
If you no longer want to continue studying you can cancel. This should be done in writing either by an email or letter to your course administrator. We will confirm your cancellation in writing. If you are eligible for a refund, we will email you a refund request form of which you need to complete and return to us. Once we receive the completed form, the refund will be processed within 28 days. If you are not cancelling but require a refund, we will email you a refund request form which you need to complete and return to us. Once we receive the completed form, the refund will be processed within 28 days. If your employer paid your fees on your behalf, we must return the refund to them. Only invoices settled by you can be returned directly to you. Refunds will be made by BACS only.
Refund of AMCT and Certificate course fees (excluding CertICM)
You are entitled to a refund of 75% of the course fee paid if you cancel before the course starts or within the first month from the course start date or date of the course fee invoice, whichever is later. Thereafter, you will receive a 50% refund of the course fee up to one month before the exam. If you cancel less than one month before the exam date or if you have taken or been absent from the exam, no refund will be made. In addition, refunds for CertFin will be made for each eligible paper booking as a proportion of the total payment.
Refund of AMCT and Certificate teaching course fees (excluding CertICM)
If you want to cancel a teaching course you are entitled to a refund of teaching fees paid as follows:
- 75% refund if you request the cancellation no later than seven days prior to the start of the teaching course
- 50% refund if you request the cancellation thereafter until the day before the start of the teaching course
If you cancel on the first day of the teaching course or after the course has started, a refund will be made of any teaching days which have not yet occurred where sufficient notice is given:
- 75% refund where at least 7 days notice prior to the teaching day is given
- 50% refund thereafter until the day before the teaching day
- If you cancel on the day of the teaching or do not attend, no refund will be made for that day
You cannot defer a teaching course less than 7 days prior to the start of the course or after the teaching course has started:
- You can either attend the teaching course or cancel and rebook the teaching course for the next available session
If you choose to cancel the teaching course, the following refund terms only apply if any refund due is used to part-pay for the rebooking of the course:
- 100% refund of any teaching days where at least 7 days notice prior to the teaching day is given
- 50% refund of any teaching days thereafter until the day before the teaching day
- If you cancel on the day of the teaching or do not attend, no refund will be made for that day
If you choose to cancel and rebook the teaching course, you will be booked on to the teaching course at the next available session, an invoice will be raised and any refund due will be used to part-pay this invoice. We will then send you an invoice for the balance payable.
Refunds will be processed within 28 days via bank transfer to the original payee.
Refund of Certificate in International Cash Management course fees (CertICM)
Receipt of a completed booking form constitutes a formal agreement to undertake the course and attend the tuition school on the date and location specified.
Cancellation of the course prior to the tuition school
Cancellations must be given in writing to your course administrator. Cancellations received up to seven days prior to the tuition school are eligible for a refund of 50% of the course fee. No refunds are made beyond this point.
Withdrawal from the tuition school where this has been agreed with the ACT
Transfers from the specific tuition course date and location are not normally permitted. In exceptional circumstances, where such a transfer is allowed, a fee for the transfer will be charged. This fee is in addition to the course fee given on the booking form.
An invoice will be issued for this additional amount after the closing date for bookings on the next course, if a place is available for you. If no additional places are left, a refund will be made of the course fee as above. You may enrol as a new student for a subsequent course.
Non-attendance at the tuition school where the ACT is not notified in advance
No refund will be made in these circumstances. We will assume you have cancelled from the course and will no longer contact you.
Refund of MCT Advanced Diploma course fees
If you cancel prior to the start of the course you are entitled to:
- a refund of course fees paid, less an administration fee of £100
- if course text books have been despatched prior to cancellation, the cost of these materials will also be deducted.
If you cancel after the start of the course you are entitled to:
- a refund of 75% of the course fees paid if you cancel prior to the submission date of the first Tutor Marked Assignment (TMA1) for the course you enrolled on to*
- a refund of 50% of the course fees paid if you cancel prior to the submission date of the second Tutor Marked Assignment (TMA2) for the course you enrolled on to*
- after the date for the submission of the second TMA no refund is made.
* When you enrol on to MCT you elect to join a course with a defined start date and you are sent a course timetable which gives the submission dates for TMA1 and TMA2. If you then choose to defer your MCT course to one with a later start date, the terms of refund apply to the course you enrolled on to, NOT the course you deferred to.
Refunds of student subscription
If you cancel and cease to be a Student Member, we will refund any prepaid student membership subscription on a pro rata basis for the unused months.
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