The following description is made available to parents and students to ensure clear understanding of the purpose and scope of our FPS program.
ICS's Undertaking to provide a Fee Protection Scheme
ICS hereby confirms and undertakes to the Student that it has in place a FPS by way of an insurance facility LONPAC Insurance Policy Number: Z13/BM00/000427 29 October 2013 to 28 October 2016
FPS Insurance Facility
A copy of master insurance agreement between CPE, LONPAC Insurance BHD (the “Master Insurance Agreement") and acceded to by ICS for the purpose of insuring the Student, is available on ICS's website at www.ics.edu.sg. The Master Insurance Agreement sets out the events under which LONPAC Insurance BHD shall indemnify the Student for Fees paid to ICS.
ICS hereby undertakes that the:
1. Coverage under the Master Insurance Agreement shall be extended to the Student;
2. Student receives the certificate within seven (7) days of payment of any tuition and/or fees;
3. Insured period shall commence from the Fee payment date to at least the next payment date.
Fee Protection Certificate of Insurance
Whenever FPS is purchased for a student, the certificate of insurance (COI) is automatically sent to the email of the student’s parent or guardian from the Lonpac e-system. The student’s parent or guardian can also request the COI from ICS.
No Double Claim:
For the avoidance of doubt, if the Student and/or Parent receives any payment from ICS or the Insurance Company pursuant to a provision of this Agreement or the /Master Insurance Agreement in respect of any matter or damage, then the Student and his/her Parent shall not be entitled to claim against the ICS Insurance Company for the same payment in respect of the same matter or damage pursuant to any other provision of this Agreement or the Master Insurance Agreement.