Historical Capital Deposit Information

(For Students Enrolled on or before 20 Aug 2014)

Rationale

In order to ensure that ICHK has sufficient funds for capital works to a) refurbish existing buildings and infrastructure and b) upgrade our school facilities and buildings, parents are required to provide the school with a refundable capital deposit set at HK$60,000, or $80,000 (depending which year the student joined). The Education Bureau does not consider capital deposits charged by international schools to be part of the school fees requiring approval. Consequently the terms and conditions are a matter for the ICHK Board of Governors.

Contractual entitlement to refund

The capital deposit is repayable in full (without interest) in the following circumstances:

  • The pupil has left ICHK
  • No money is owing to ICHK from the parents
  • One full term’s written notice of withdrawal has been given to the Head of School

Board discretion to make full or partial refunds

If the conditions above are not fulfilled, there is no contractual entitlement to any refund whatsoever. However, the Board or the Head of School may exercise discretion to make a full or a partial refund. Such a discretionary refund will be given in full as final settlement of any claims against the school.

The Board may authorize a full refund if it considers that there are exceptional circumstances that have necessitated withdrawal without giving a full term’s notice. For instance, a full refund will normally be given if a family can provide evidence that they have all had to relocate outside Hong Kong at short notice, and the student is attending a school outside Hong Kong. The Board will not normally consider that receiving a last-minute offer of a place at another school in Hong Kong amounts to exceptional circumstances.

In cases where less than one full term’s notice has been given, the Board will normally make a deduction from the capital deposit equivalent to the fees that would have been payable for the following term. This reflects the difficulty of filling a place that arises when a student is withdrawn at short notice.

If money is owing to the school (e.g. because textbooks have not been returned), then the amount owing will be deducted from the deposit before a refund is made.

Process for determining refunds

Normally, refunds will be processed by the Finance Department in accordance with this policy. However, if parents consider that there are exceptional circumstances that are not covered by this policy, they may request the Board to consider the case. Such a request must be made at the time the notice of withdrawal is given, by (i) indicating this request on the withdrawal form, and (ii) writing a letter addressed to the ‘Chairman of the ICHK Board of Governors’ describing these exceptional circumstances.

Withdrawal Form

The withdrawal form is available here.

Date for refund

  1. The capital deposit may only be refunded after a student has left the school.
  2. If the capital deposit is to be refunded in accordance with this capital deposit policy, then the school will mail the refund to parents with 3 weeks after the child has left the school.
  3. If the Board is asked to consider ‘exceptional circumstances’ in relation to a refund of the capital deposit, then it will be placed on the agenda of first board meeting after the student has left the school.
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