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PAYMENT CANCELLATION, REFUND AND STUDENT CREDIT POLICY

1. PURPOSE
The purpose of this policy is to establish clear and consistent procedures for managing student payments, cancellations, refunds, credits and transfers of fees between courses or services offered by Funda Institute

The policy is intended to:

  • Protect the interests of both Funda Institute and its students.

  • Ensure that student payments are properly recorded and allocated.

  • Provide a clear process for students who are unable to proceed with their selected course or service.

  • Ensure that unused student funds are appropriately retained as a credit where applicable.

  • Establish clear circumstances under which a refund may or may not be considered.

  • ​Ensure that the Institute's payment practices comply with applicable South African legislation, including the Consumer Protection Act 68 of 2008 (CPA).

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2. SCOPE

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This policy applies to all students, applicants and prospective students who make payments to Funda Institute for:​

  • Course fees;

  • Registration fees;

  • Study materials;

  • Graduation-related services;

  • Rewrites;

  • Additional academic services;

  • Other services offered by Funda Institute.

The policy applies to payments made through approved payment channels, including electronic payment platforms, bank transfers and other payment methods authorised by the Institute.​

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3. LEGAL AND REGULATORY COMPLIANCE

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Funda Institute is committed to conducting its student payment practices in accordance with applicable South African legislation.

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Nothing contained in this policy is intended to:

  • Exclude or limit a student's rights under applicable legislation;

  • Waive a right that cannot lawfully be waived;

  • Avoid an obligation imposed on Funda Institute by law; or

  • ​​Prevent a student from exercising any lawful right available to them.

Where a provision of this policy conflicts with a mandatory requirement of applicable legislation, the applicable legislation will prevail.
The Consumer Protection Act prohibits terms that purport to deprive a consumer of rights provided by the Act or avoid a supplier's legal obligations. The Act also requires certain cancellation charges to be reasonable.

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4. PAYMENT ALLOCATION

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All payments received by Funda Institute will be recorded against the student's account using the student's student number or other approved payment reference.
All students are required to ensure that payments are made using the correct payment reference number which is the allocated student number and the official payment link provided by the institution. The reference number must correspond with the student’s account or registration details to ensure that the payment can be correctly identified and allocated to the appropriate student account.


Students are responsible for verifying their payment reference number before making any payment. Payments made using an incorrect reference number, an incorrect payment link, or insufficient payment information may result in delays in allocating the payment to the student’s account. The institution will not be held responsible for delays resulting from incorrect payment details supplied or used by the student.


NB: If the account/link is not known to or associated with Funda, the student will be responsible for reporting the matter to the relevant authorities and taking the necessary legal steps to recover their money.
 

Where a payment has been received but cannot immediately be identified or allocated, the Finance Department may request proof of payment and additional information from the

student before allocating the funds.
 

Partial Payment for Courses Above R3,000
 

For courses with a total course fee above R3,000, students may be permitted to make partial payments. The minimum required deposit for enrolment is 50% of the total course fee.
The 50% deposit must be paid, or an approved payment arrangement must be made with the Finance/Administration Department, before the student can be formally enrolled.
Where a student fails to pay the required 50% deposit and has not made an approved payment arrangement within the required timeframe, the institution reserves the right to withhold enrolment until the required deposit has been received or an acceptable payment arrangement has been approved.
Any remaining balance must be settled according to the agreed payment schedule. Students who have entered a payment arrangement are required to honour the agreed instalment dates and amounts.

 

All payment arrangements must be communicated to and approved by the Finance Department in advance. Verbal arrangements or arrangements made after the enrolment deadline may not be accepted.
The institution reserves the right to review and approve payment arrangements based on individual circumstances and the applicable course requirements.

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5. STUDENT CREDIT BALANCES

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​Where a student has made a payment but does not proceed with the originally selected course or service, the Institute may, where appropriate and subject to applicable law, retain the amount as a student account credit rather than automatically processing a cash refund.
The credit remains associated with the student's account and may be applied towards another qualifying service offered by Funda Institute

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​Examples of permitted uses may include:

  • Registration for another course;

  • Transfer to another qualifying course;

  • Study materials;

  • Rewrites;

  • Graduation-related services; or

  • Other services approved by the Institute   

The student will not be regarded as having forfeited the payment merely because the student does not proceed with the original course, subject to the terms of this policy and applicable law.

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6. TRANSFER OF STUDENT CREDIT

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A student may request that an available credit balance be transferred towards another course or qualifying service.

The request must be submitted to Finance for verification.
Finance will:

  • Verify the payment received;

  • Confirm the available credit balance;

  • Confirm whether the requested service qualifies for payment using the credit;

  • Approve and process the transfer where appropriate; and

  • Update the student's account accordingly.

​No student credit may be transferred without proper verification and approval.​

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7. REFUND REQUESTS
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Funda Institute does not operate on an automatic cash-refund basis for ordinary voluntary cancellations.
However, the Institute will assess each refund request individually.


A refund request may be considered where:

:

  • A refund is required by applicable law;

  • Funda Institute has failed to provide the contracted service in circumstances giving rise to a refund or other remedy;

  • An overpayment has occurred;

  • A payment was made in error and the circumstances justify reimbursement;

  • A duplicate payment has been made;

  • The Institute approves a refund based on the individual circumstances; or

  • Another legally recognised ground for a refund exists.

The existence of a student credit does not, by itself, remove any statutory right the student may have to a refund or other remedy.

 

Student Credit
 

Where a student has made payment towards a course but later decides not to proceed, Funda Institute may, where appropriate, retain the amount as a student credit on the student’s account. Where a refund is approved, an administrative fee of 5–10% may be deducted from the refund amount.
Student credit may be used towards:

  • A future course or programme;

  • An alternative course approved by Funda Institute; or

  • Other approved academic or training-related fees.

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Student credit is not considered a cash refund. The credit will remain associated with the student's account and may be applied in accordance with Funda Institute's applicable terms and conditions.
Where a student elects to retain the funds as student credit, the Institute may not process a separate cash refund for the same amount.
 

Cash Refunds
 

Where a student requests a cash refund, Funda Institute will first determine whether the student is legally entitled to a refund and, where applicable, the amount refundable.
Refunds will take into consideration:

  • Payments received by Funda Institute;

  • Services already provided to the student;

  • Reasonable costs incurred by Funda Institute because of the enrolment or cancellation;

  • Any applicable cancellation or administrative charge that is lawful and reasonable; and

  • Any statutory rights or obligations applicable to the cancellation

Where applicable legislation requires a refund to be made without a deduction, Funda Institute will process the refund accordingly.
 

Cancellation or Administrative Charges
 

Where permitted by applicable law, Funda Institute may apply a reasonable cancellation or administrative charge where a student voluntarily cancels an enrolment. Any cancellation or administrative charge will be assessed with reference to the circumstances of the cancellation, including reasonable costs incurred by Funda Institute and the services already provided.
Funda Institute will not apply an arbitrary or automatic percentage deduction to every refund request. Any cancellation charge must be reasonable, justifiable, and applied consistently with applicable legislation.


Third-Party and Sponsored Payments
 

Where tuition or other student fees have been paid by a third party, including a funding provider, sponsor, employer, parent, guardian, financial institution or other organisation, any approved refund will ordinarily be processed to the original payer or funding source from which the payment was received.
Funda Institute will not ordinarily pay such refund directly into the student's personal bank account unless:

  • the original payer or funding provider has provided written authorisation for the refund to be paid to the student; or

  • Funda Institute is otherwise legally required or authorised to make the payment directly to the student.

Where the original payer is a funding provider, Finance must verify the terms of the relevant funding agreement before processing the refund.
Where the student requests that a third-party payment be refunded directly to them, the student must provide the required supporting documentation and written authorisation from the original payer/funder, where applicable.
 

All third-party refunds must be approved by Finance and supported by sufficient documentation to maintain a clear audit trail.

 

Distinguishing between these situations

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Payment source  ->  Default refund destination​

Student paid personally  ->  Student

Parent/guardian paid  ->  Parent/guardian/original payer, unless authorised otherwise

Funding company paid  ->  Funding company

Employer paid  ->  Employer, unless authorised otherwise

Sponsor paid ->  Sponsor, unless authorised otherwise

Third party paid but authorizes student refund  ->  Student, subject to verification

 

Refund Assessment and Approval

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All cash refund requests must be submitted to the Finance Department for assessment and approval.
 

Finance will review the student's account and supporting documentation before determining the amount, if any, to be refunded. The student will be required to submit valid proof of payment, and the payment details must match the information recorded on our system. If the payment was made by an institution or company on behalf of the student, the student must provide a letter from the company confirming that the refund may be processed, together with the relevant proof of payment.
 

Refunds should only be processed once the relevant approval has been obtained and the student's account has been reconciled.
 

Where required, refunds may be subject to management approval in accordance with Funda Institute's internal financial controls.
 

Refund Processing Timeframe
 

Approved refunds may be processed within 31 days or thereafter, depending on the Institute's financial planning and budget cycle.
For a refund to be paid, the required funds may need to be requested and included in the applicable monthly budget before payment can be released.
Where the refund funds have not been included in the current month's budget, the refund may be scheduled for the following applicable budget cycle.
Students will be informed that the processing of an approved refund may therefore take 31 days or longer, depending on the availability of funds within the relevant budget cycle and completion of the required internal approval processes.
The 31-day or longer administrative processing period does not remove or limit any statutory right a student may have to a refund or any legally prescribed timeframe applicable to a particular transaction.

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Statutory Consumer Rights


Nothing in this policy is intended to limit or exclude any rights afforded to students or consumers under applicable South African legislation.
Where a student has a statutory right to cancel a transaction without penalty or to receive a refund, Funda Institute will comply with the applicable legal requirements.
Where there is uncertainty regarding a student's statutory rights or the legality of a proposed deduction, the matter should be referred to management or appropriate legal or professional advisers before the refund is processed.
 

Refund Processing Requirements
 

Once a refund has been approved and the required funds have been allocated through the applicable budget cycle, Finance will process the refund using the appropriate payment method and to the appropriate account, subject to verification and the Institute's financial controls.
The Institute may request proof of payment, banking details, identification, or other supporting documentation where reasonably necessary to verify the refund request and prevent fraudulent payments.

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8. CANCELLATION BY THE STUDENT

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Where a student voluntarily decides not to proceed with a course or service, the student must submit a cancellation request to the Finance Department.

The request should include:

  • Full name and surname;

  • Student number;

  • Course enrolled for;

  • Date of payment;

  • Amount paid;

  • Reason for cancellation;

  • Proof of payment, where required; and

  • Preferred method of resolution, where applicable.

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Finance will assess the request based on:

  • ​The student's account;​

  • The payment history;

  • Whether the service has commenced;

  • Whether services or materials have already been provided;

  • The terms agreed with the student;

  • The circumstances surrounding the cancellation; and

  • Applicable legislation.

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9. CANCELLATION OF ADVANCE BOOKINGS OR SERVICES

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Where a student has made an advance booking, reservation or order for a service that is to be provided later, the Institute will assess cancellation requests in accordance with applicable law.
 

Where a cancellation charge is legally permitted, such charge must be reasonable in the circumstances.
 

Factors that may be considered include:

  • The nature of the service;

  • The notice given by the student;

  • Costs already reasonably incurred by the Institute;

  • Whether the Institute can reasonably replace the cancelled booking; and

  • The circumstances of the cancellation.

The Consumer Protection Act specifically provides for cancellation of advance bookings, reservations or orders, while allowing a supplier in appropriate circumstances to impose a reasonable cancellation charge.

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10. SERVICES ALREADY PROVIDED

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Where a student has already received or substantially utilized a service, the Institute may consider the value of services already provided when assessing a cancellation or refund request.


This may include:

  • Classes already attended;

  • Study materials already supplied;

  • Assessments already undertaken;

  • Registration services already completed;

  • Graduation services already provided; and

  • Other services already delivered.

Any assessment will remain subject to applicable consumer and contract law.​​

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11. FAILURE BY FUNDA INSTITUTE TO PROVIDE A SERVICE

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Where Funda Institute fails to provide a service in accordance with the applicable agreement or applicable legal requirements, the matter must be escalated to Finance and Senior Management for assessment.


Depending on the circumstances, the student may be entitled to an appropriate remedy, which may include:

  • Rectification of the service;

  • Rescheduling;

  • Transfer to another service;

  • A reasonable credit; or

  • A refund where legally required or otherwise approved.

The Institute will not rely on this policy to avoid a legal obligation arising from its own failure to provide the agreed service.


The CPA provides consumers with remedies where services do not meet the required standards, including the possibility of requiring the supplier to remedy the defect or provide a reasonable portion of the price as a refund, depending on the circumstances.

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12. REFUND APPROVAL PROCESS

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All refund requests must be submitted to Finance.


Finance will verify:

  • The student's identity;

  • Student number;

  • Course and intake;

  • Amounts paid;

  • Amounts allocated;

  • Outstanding balances, if any;

  • Services already received;

  • Reason for the refund request; and

  • Applicable contractual and legal requirements.

Where required, the request will be escalated to Senior Management for approval.


NB: No employee may promise or authorise a refund outside the approved process.

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13. REFUND CALCULATION

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Where a refund is approved, Finance will calculate the amount payable based on:

 

Total payments received

less legitimate amounts due to Funda Institute

less amounts relating to services already provided, where legally permissible

less any lawful and reasonable cancellation charges, where applicable

= Refund amount
The calculation will be documented and retained for audit purposes.

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14. OVERPAYMENTS AND DUPLICATE PAYMENTS

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Where a student has accidentally made a duplicate payment or paid more than the amount required for the relevant service, Finance will verify the transaction.
The verified excess amount may, depending on the circumstances:
 

  • Remain as a student credit; or

  • Be refunded to the student where appropriate and approved.

The Institute may request proof of payment before processing the adjustment.

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15. STUDENT ACCOUNT STATEMENTS

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Students may request a statement reflecting their account activity.


The statement may include:

  • Payments received;

  • Payment dates;

  • Payment references;

  • Amounts allocated;

  • Course fees;

  • Outstanding balances;

  • Student credits; and

  • Other relevant financial transactions.

Students are encouraged to raise discrepancies with Finance as soon as they become aware of them.

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16. COMMUNICATION WITH STUDENTS

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All payment, cancellation and refund information communicated to students must be:

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  • Clear;

  • Accurate;

  • Consistent;

  • Easy to understand; and

  • Consistent with this policy and applicable law.

All communication relating to student payments, outstanding balances, payment arrangements, refunds, credits, invoices, and other financial matters must be communicated directly with the Finance Department to ensure that accurate and consistent information is provided and that all financial matters are properly recorded.
 

Students are expected to communicate with the legally employed institution staff, not any former staff members regarding their accounts and payment-related enquiries. Where possible, students should be responsible for submitting their own requests, providing the necessary supporting documents, and following up on their financial matters.
 

Communication on behalf of a student may only be facilitated by a parent, guardian, authorized representative, or staff member where the student is unable or not reasonably fit to communicate directly due to circumstances that prevent them from doing so.
 

All financial communication and arrangements must be documented and retained for record-keeping and accountability purposes. Verbal agreements or informal arrangements will not be regarded as confirmed unless they have been communicated to and acknowledged by the Finance Department.

 

This approach ensures that financial information is handled through the appropriate channel, reduces miscommunication, and provides a clear record of all agreements and decisions relating to student accounts.

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17. STUDENT DISPUTES

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Where a student disputes a payment allocation, cancellation decision, credit or refund decision, the matter must first be referred to the Finance Department.
 

If the matter cannot be resolved internally, it may be escalated through the Institute's complaints procedure and, where applicable, to the appropriate external dispute-resolution or regulatory body.
 

Funda Institute will not penalize or discriminate against a student merely because the student exercises a lawful consumer right.

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18. RECORD KEEPING

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Finance must retain appropriate records relating to:

  • Payments received;

  • Student account credits;

  • Refund requests;

  • Refund approvals;

  • Refund calculations;

  • Supporting documentation;

  • Payment confirmations;

  • Cancellation requests; and

  • Correspondence relating to disputed payments.

Records must be maintained in accordance with the Institute's record-retention requirements and applicable legislation.

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19. RESPONSIBILITIES​​​

Finance Department

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Finance is responsible for:

  • Verifying payments;

  • Maintaining student financial records;

  • Processing account credits;

  • Assessing refund requests;

  • Preparing refund calculations;

  • Maintaining supporting documentation; and

  • ​Escalating matters requiring management or legal review.

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Admissions / Student Support
Admissions and Student Support are responsible for:

  • Communicating the policy accurately to students;

  • Directing refund and cancellation requests to Finance;

  • Avoiding unauthorised promises regarding refunds; and

  • Assisting students with the required documentation.

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Student Responsibilities

Students are responsible for actively managing and monitoring their own financial accounts with Funda Institute. This includes ensuring that all payments, account enquiries, payment arrangements, and other financial matters are attended to within the applicable timelines.

 

Students are responsible for:
 

  • Ensuring that all fees are paid in accordance with the applicable payment terms, due dates, and agreed payment arrangements.

  • Taking note of and adhering to the payment opening and closing dates communicated by Funda Institute.

  • Using the correct student/account reference number when making any payment to ensure that the payment can be correctly identified and allocated.

  • Using only the official payment methods and payment links provided by Funda Institute when making payments.

  • Verifying their payment details before completing a transaction and retaining proof of payment for their records.

  • Regularly checking their account, statements, payment notifications, and other financial communication issued by Funda Institute.

  • Communicating directly with the Finance Department regarding payment queries, outstanding balances, payment arrangements, refunds, credits, or any discrepancies relating to their account.

  • Raising any payment or account-related concerns within a reasonable and applicable timeframe after receiving communication from the Institution.

  • Providing accurate information and supporting documentation when requested by the Finance Department.

  • Ensuring that any approved payment arrangement is honoured according to the agreed dates and amounts.

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Responsibility for Financial Communication

  • Funda Institute will make reasonable efforts to communicate relevant financial information, including payment requirements, account balances, deadlines, payment arrangements, and other account-related notices, through the communication channels provided by the student.

  • Students are responsible for reviewing and responding to such communication within the applicable timeframe. Where a student receives a financial notification or identifies an issue with their account but does not contact the Finance Department within a reasonable timeframe, the Institution may not be held responsible for delays, missed payment arrangements, late requests, or consequences arising from the student's failure to seek assistance or clarification timeously, subject to any rights the student may have under applicable legislation.

  • Students are encouraged to contact the Finance Department as soon as possible where they are unable to meet a payment deadline, identify an incorrect allocation, have trouble making payment, or require clarification regarding their account.

  • Where circumstances prevent a student from communicating directly, communication may be facilitated by a parent, guardian, authorised representative, or appropriate staff member, where applicable.

Accountability

  • The responsibility for a student's financial account is shared between the Institution and the student. Funda Institute is responsible for maintaining accurate financial records and providing appropriate financial communication, while students are responsible for monitoring their accounts, complying with communicated payment requirements, using the correct payment information and methods, and raising concerns or requesting assistance within the required timeframe.

 

20. POLICY EXCEPTIONS


Funda Institute recognises that exceptional circumstances may arise where a student or relevant stakeholder is unable to comply with the standard requirements of this Finance Policy. Exceptions may therefore be considered on a case-by-case basis, subject to appropriate approval and supporting documentation.
A policy exception may be considered in circumstances including, but not limited to:

  • Medical or personal emergencies that prevent a student from making a payment or communicating with the Finance Department within the required timeframe.

  • Technical difficulties with an official payment platform or payment link that prevent a student from successfully completing a payment.

  • Incorrect or delayed payment allocation where the student can provide valid proof of payment and the delay was not caused by intentional non-compliance

  • Banking or payment-processing issues outside the student's reasonable control.

  • Financial hardship, where a student requests an alternative payment arrangement and provides sufficient information to support the request.

  • Special academic or administrative circumstances approved by Management.

  • Situations where a student is unable or not reasonably fit to communicate directly, in which case communication may be facilitated by a parent, guardian, authorised representative, or appropriate staff member.

  • Any circumstance where applicable legislation provides a student with rights or protections that differ from the requirements of this policy.

  • Request for an Exception

A student requesting an exception must contact the Finance Department as soon as reasonably possible and, where applicable, before the relevant payment, enrolment, cancellation, or refund deadline.

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The request should clearly state:

  • The nature of the exceptional circumstance;

  • The specific policy requirement from which the student is requesting an exception;

  • The reason the normal requirement could not be met; and

  • Any relevant supporting documentation or proof.

Where possible, requests should be submitted in writing to ensure that there is a clear record of the request and the decision made.

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Approval of Exceptions

  • Policy exceptions are not automatically granted. Each request will be reviewed based on the individual circumstances and the supporting information provided.

  • Approval may be granted by the Finance Manager, Finance Department, or authorised Management representative, depending on the nature and financial impact of the exception.

  • Where an exception has financial implications, the appropriate level of financial approval must be obtained before the exception is implemented.

  • Documentation and Record-Keeping

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All approved exceptions must be properly documented, including:

  • The student's name and account details;

  • The date of the request;

  • The reason for the exception;

  • Supporting documentation, where applicable;

  • The specific policy requirement being waived or varied;

  • The period or transaction to which the exception applies;

  • The person who approved the exception; and

  • Any conditions attached to the approval.

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This documentation must be retained in accordance with Funda Institute's financial record-keeping requirements.

 

Limitations of Exceptions

  • An exception granted to one student does not create an automatic entitlement for other students and does not constitute a permanent amendment to this policy.

  • Exceptions must not be used to circumvent normal payment procedures, deadlines, financial controls, or approval processes.

  • Funda Institute reserves the right to decline an exception where the circumstances do not justify a deviation from the policy or where granting the exception would conflict with applicable legislation, financial controls, or the Institute's operational requirements.

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Emergency Exceptions
 

In urgent circumstances where immediate action is required, an authorised Finance or Management representative may approve a temporary exception. The reason for the exception and the approval must be documented as soon as reasonably practicable thereafter.
All exceptions remain subject to applicable legislation and the Institute's overall financial governance requirements.

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“No policy exception shall be considered valid unless it has been approved by an authorised representative of Funda Institute and properly recorded. Verbal assurances or informal arrangements made with unauthorised staff members shall not constitute an approved policy exception.”

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20. POLICY REVIEW

 

This policy will be reviewed periodically to ensure that it remains aligned with:

  • Applicable South African legislation;

  • Consumer protection requirements;

  • Funda Institute's operational practices;

  • Payment-provider requirements; and

  • Changes in the Institute's courses and services.

Where significant legislative changes occur, the policy may be reviewed before the scheduled review date

All Occupational Health and Safety programmes offered by Funda Institute are verified and/or endorsed by the South African Institute of Occupational Safety and Health (Saiosh), a recognised professional body appointed by the South African Qualifications Authority (SAQA) for Occupational Health and Safety professional designations.

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