Common use of Accommodation Fees Clause in Contracts

Accommodation Fees. 3.1.1 The UFS annually determines the accommodation fees payable by a student for the succeeding year, an exposition of which is set out in the relevant prospectus of the UFS for such subsequent academic year (the "accommodation fees"). It is specifically recorded that the accommodation fees exclude value -added tax but include water and electricity. It is hereby further recorded that the UFS shall be entitled to charge default interest on all outstanding accommodation fees in accordance with the Rules and the relevant application form. 3.1.2 Payment dates applicable for South African resident students: 60% (SIXTY PERCENT) of the relevant accommodation fee is payable on or before the 31st day of March each year, and the remaining 40% (FORTY PERCENT) is payable on or before the 31st day of July of the same year. 3.1.3 Payment dates applicable for international students: 60% (SIXTY PERCENT) of the accommodation fee is payable on or before the 31st day of March each year, and the remaining 40% (FORTY PERCENT) is payable on or before the30th day of June of the same year.