The MBA Program (Flexi-mode) 

Remittance Information

1. a. The fee is to be paid stage-wise. Currently, the Admission Fee is Rs. 5,000 and the fee for each Stage is Rs. 25,000. Students are required to pay the fee as indicated in the Table above, either in Lumpsum, or through the Instalment facility or EMI facility.
   

   b. The fee can be paid by way of Demand Draft or Credit Card (VISA or MasterCard only). The Demand Draft should be A/c payee crossed drawn in favor of "IUCF A/c FLP" payable at Shillong, Meghalaya. Students can make the payment through Credit Card at Shillong and Tura. They should get their Credit Cards swiped for the required amount, sign and attach the merchant copy of the slip along with the Fee Remittance Form and keep the customer copy with themselves (as acknowledgement).
   

   c. The employees of the University are not authorized to accept cash payments from the students under any circumstances and also are not authorized to swipe their personal credit cards to pay on behalf of the students. Students should not share their credit card information with the employees of the University and should not make any payments by cash. Any students deviating from the above will be doing so at their own risk and responsibility.

2. Instalment facility/EMI facility for payment of fee:

1. Instalment facility/EMI facility is offered to all the students for payment of fee. Under both the facilities, the initial payment should be made by way of Demand Draft/Credit Card and the balance amount should be paid through postdated cheques. The postdated cheques should be in favor of "IUCF A/c FLP". The students can choose either Instalment facility or EMI facility as indicated (in the Table given) accordingly.

2. Instalment facility: The initial payment (i.e. first instalment) is payable at the time of application by Demand Draft/Credit Card. The second instalment is payable on the 30th day after application by way of postdated cheque. For example if a student enrolls on April 15, the second instalment (amount payable in rupees) will be due on the 30th day, namely May 15. The students should enclose the Demand Draft/Credit Card slip towards the first instalment and postdated cheque (A/c payee crossed) towards the second instalment along with the Fee Remittance Form.
   
   EMI facility: The initial payment is payable at the time of application by Demand Draft/ Credit Card. The EMIs are payable on the first of every month, subsequent to enrollment. For example, if a student enrolls on April 15, his/her first EMI (amount payable in rupees) will be due on May 1. The EMIs should be paid through postdated cheques. The students should enclose the postdated cheques (A/c payee crossed) along with the Fee Remittance Form and the Demand Draft/Credit Card slip for initial payment.

3. Students availing the Instalment facility/EMI facility are required to complete the Fee Remittance Form and enclose the Demand Draft and postdated cheques for the required amount.

4. Students should note that only those Application Forms accompanied with the Demand Draft or Credit Card payment slip towards initial payment, and postdated cheques towards the Instalment facility/EMI facility, will be considered as valid.

5. Students submitting the postdated cheques should ensure that the postdated cheques should not be dishonored under any circumstances when they are deposited for payment. In the event of dishonor of any cheques, the students and the signatories of such cheques will be liable for prosecution under Section 138 of the Negotiable Instruments Act, 1881 and such other legal actions as may be taken by the University.

6. The PDCs should be drawn on scheduled commercial banks located in Shillong and Tura.
   
   If the students send any cheques drawn on banks located in cities other than the specified cities, such cheques will not be accepted. Only MICR and multi-city cheques will be accepted.

7. The University reserves the right to withdraw the Instalment facility/EMI facility for payment of fee at any time.

3. The examination fee is to be paid separately as and when the student is eligible and register for the examinations. The fee is Rs.1,000 per group.

4. An amount of Rs.1,000 is payable towards membership in Alumni Federation and it is mandatory. The membership amount is payable before registering for Group G examinations.

5. The MBA students are entitled to receive Effective Executive magazine for a period of 12 months, from the date of enrollment. In addition, all students at Group G will also receive Case Folio journal for a period of 9 months.

6. The payment towards training classes for Groups A, B and C is Rs.15,000 if paid at the time of enrollment. These classes are conducted four times a year and they are need-based. If the students wish to join the training classes subsequently after their enrollment into the program, they are required to pay Rs.18,000 for Groups A,B and C.

7. Training Classes will be held solely at the discretion of the University, subject to a minimum number of students registering for the same. In case it is decided not to hold such classes, the fee paid by the students towards such classes will be refunded. The students will have no claim for refund of any other fee.

8. In the unfortunate event of death of a specified parent/guardian/spouse who is funding the education of the student, the balance of basic fee payable by the student will be waived by the University. Hence, such unfortunate students need not discontinue their studies. In the unfortunate event of death of a student during the two year period from the date of enrollment, the basic fee paid by the student will be refunded to the specified parent/guardian/spouse. Further details will be provided in the Student Regulations book.

9. All students registering in the Program are required to pay the stipulated payment as per schedule. Wherever students have arrears of payment, they will not be permitted to register for the examinations or their examination result will not be released and their mark sheets, pass certificates will not be issued; further such students will be considered as inactive on the rolls of the University and their names are liable to be removed from the records.

10. The fee is subject to change from time to time. Students will be informed of the payment revisions through e-mails, electronic newsletters, students regulations, etc. The students are required to pay as may be prevalent in the relevant academic year. The fee indicated in this document is valid for 2008-09 academic year only.

11. Overseas Students:

1. Students who wish to receive the courseware at their overseas address are required to remit US$75 per group towards overseas courier charges.

2. Students who wish to receive the Effective Executive magazine, Case Folio journal and other mailers at their overseas address are required to remit overseas mailing charges of US$200 per annum towards the same.

3. Students who wish to appear for examinations at any overseas test centers are required to contact the Indian Embassy/High Commission/Consulate Officials and obtain their consent to supervise the examination and mail the same to the Controller of Examinations before submitting the Examination Registration Form. The University will not take any responsibility for obtaining the consent from the above mentioned Officials.