Tuition Fee & Forex Protection Agreement

Between Parent/Guardian/User (“Customer”) and Skolarz EdTech Private Limited (“Company”)
(Digitally Executed under the Information Technology Act, 2000)

1. Preamble

This Agreement (“Agreement”) is entered into on this ___ day of ____, 20XX, by and between:

Skolarz EdTech Private Limited, a company incorporated under the Companies Act, 2013, having its registered office at __________________________ (“Company” or “Skolarz”),

AND

[Parent/Guardian Name], residing at __________________________ (“Customer” or “Parent” or “User”) and declares without any coercion or inducement that his/her age is minimum 18 years or more at the time of executing this agreement, bearing Valid Passport / Aadhaar Number XXXXXXXXXX.

The Parties hereby agree to execute this Agreement electronically in accordance with the provisions of the Information Technology Act, 2000, and such execution shall have the same legal validity as a handwritten signature.

2. Purpose

The Customer subscribes to the Company’s Tuition Fee and Forex Protection Program (“Program”), which provides protection against:

1. Tuition fee inflation for the Student’s intended overseas education; and
2. Adverse foreign exchange rate fluctuations during the defined protection period.

This Agreement outlines the terms governing the financial protection, obligations, and digital execution process between the Parties.

3. Definitions

For this Agreement:

• Tuition Fee and Forex Protection Program means financial protection company owes or extends to the customer equal to any tuition fee inflation & forex fluctuation towards locked Wish-list while subscribing to Tuition Fee and Forex Protection Program on or before extended Free-look period and same is payable upon trigger of Event.
• Event refers to student, customer securing successful study VISA for locked wish-list (target country, universities, consultant and admission year) and same equals to any increase in 1^st (First) term or semester tuition fee & forex fluctuation from date of lock-in to date of securing successful admit in locked academic year.

• Wish-list refers to locked institutes or universities (5 or more) along-with course or stream or specialization either for UG or Diploma or Masters program for target intake or admission year including locked Study abroad education consultant for processing application to destination country.
• Riderz refers to an option that allows customer to add and lock tuition fee and forex rate for more than one country (destination) and or more than 5 (five) institutes / universities by paying a nominal fee to the company on / before extended Free-Look period and same is non-refundable, once paid.
• Program Fee means the one-time, non-refundable fee paid by the Customer to activate protection.
• Protected Tuition Fee means the base 1^st term or semester tuition fee amount (excluding scholarship, if any) for all institutes or universities, along-with course or stream (wish-list) locked by the Customer at the time of subscription.
• Forex Protection means the assurance of rate protection against specified foreign currency movement; locked by the Customer at the time of subscription.
• Protection Period or Lock Period refers to the duration (days) for which tuition fee and forex rate protection are active i.e from the date User Locks the targeted institute, program or course, target intake, education consultant & country for self or for his/her/theirs child / ward; within Free Look Period or Extended Free Look Period as defined herewith.
• Student refers to the ward/child of the Customer for whose education this protection is being availed.
• Free-Look Period means 90 days from the date of paying, remitting the Program Fee, during which Customer, Student can edit planned (wish-list) institutes (universities), education consultant, course or stream of study.
• Extended Free-Look Period means additional 30 days from the date of expiry of Free-Look period, during which Customer, Student can edit planned (wish-list) institutes (universities), education consultant, course or stream of study. Customer can opt for extended free-look period by remitting or paying additional nominal fee to Company.
• Due Date means midnight of date that falls 90 days (Ninety) from plan, program fee payment date unless customer, student has opted for extended Free-look period. On or before this due date, customer or student mandatorily needs to lock the wish-list of universities for planned course, admission year, annual tuition fee budget, country (destination) planned and education consultant.

4. Program Coverage

The Company agrees to in lieu of Program Fee:

1. Lock and cover the increase in tuition fee amount for the specified course and institution as declared (Locked) by the Customer, Student to the extent of 1^st (First) term or semester fee for stated intake or admission year, upon trigger of Event.
2. Offer protection against adverse forex fluctuations (increase) for the specified country as declared (Locked) by the Customer, Student upon trigger of Event.
3. Facilitate access to the Skolarz ecosystem — including verified partners for Study abroad consultants, financial institutions, test prep, accommodation, flights, and insurance — with transparent and best possible pricing.
4. On best effort basis; Provide a digital dashboard for real-time tracking of fee, forex rate, and coverage status along-with college application status.
5. Student can always change planned course or stream or specialization but same shall be within planned budget, locked destination, universities locked and consultant as locked at the beginning of program

5. Customer, Student Obligations

 

The Customer shall:

1. Provide accurate and verifiable details regarding the Student’s course, destination, and estimated tuition amount.
2. Pay the Program Fee in full and Lock wish-list along-with Study Abroad Consultant within the prescribed time (Extended Free-look period).
3. Use the protection benefit solely for the purpose of education payments under the enrolled Program.
4. Notify the Company in writing of any material change in the Student’s Study abroad application journey.

6. Program Fee and Validity

1. The Customer shall pay a one-time, non-refundable Program Fee of ₹_________ (Rupees __________ only).
2. The protection shall be valid for the Protection Period commencing from the date of payment confirmation or Extended Free-look period; whichever is later and valid till locked intake or admission year for locked wish-list (Country, Universities and Consultant).
3. The total protection value shall not exceed the Protected Tuition Fee amount specified at enrollment.

7. Limitations & Exclusions

 

This Program does not cover:

• Fee variations arising from course or institution change by the customer, student post locking them within Extended Free-look period or Due date; whichever is applicable.
• Forex volatility beyond the country (s) locked in the program.
• Study Visa getting declined for reasons, whatsoever.
• Student not processing application with locked Consultant for admission to target country, universities and targeted intake or admission year
• Student not securing admit or offer or I20 across any of the locked institutes or universities for targeted intake or admission year
• Student securing admission, Study VISA for planned intake or admission year but same is not aligned with wish-list locked at the beginning of program.
• Intake or admission or enrolment year not aligned with planned or locked target year
• Delayed or fraudulent submission of claims, documents, etc.
• Force majeure events such as natural calamities, government sanctions, or war-like conditions.
• Any other scenarios other than as stated in the Event.

8. Confidentiality & Data Privacy

1. Both Parties agree to maintain confidentiality of all shared information.
2. The Company shall process Customer and Student data in accordance with applicable Indian data protection laws, including the Digital Personal Data Protection Act, 2023, and the Information Technology (Reasonable Security Practices and Procedures) Rules, 2011.

9. Dispute Resolution & Arbitration

1. Any dispute, controversy, or claim arising out of or relating to this Agreement shall first be resolved amicably within 30 (thirty) days.
2. Failing such resolution, the dispute shall be referred to arbitration in accordance with the provisions of the Arbitration and Conciliation Act, 1996, as amended.
3. The arbitration shall be conducted by a sole arbitrator appointed by company.
4. The seat and venue of arbitration shall be Hyderabad, Telangana, and the language shall be English.
5. The decision of the arbitrator shall be final and binding on both Parties.

10. Governing Law & Jurisdiction

This Agreement shall be governed by and construed in accordance with the laws of India. Subject to the arbitration clause above, the courts of Hyderabad, Telangana shall have exclusive jurisdiction.

11. Termination

1. Company may terminate this Agreement upon material breach by the other Party, with 15 (fifteen) days’ written notice.
2. No refund of Program Fee shall be applicable upon termination or any other scenario.

12. Digital Execution Clause

 

This Agreement is executed digitally and shall be deemed to be signed when executed using digital signature, e-sign, or authenticated click consent, including via platforms such as DocuSign, Leegality, or Zoho Sign, etc., in accordance with the Information Technology Act, 2000.
No physical signature or stamp is required.

13. Entire Agreement

This Agreement constitutes the entire understanding between the Parties and supersedes all prior communications, whether written or oral, relating to the subject matter herein.

IN WITNESS WHEREOF, the Parties have digitally executed this Agreement on the date first written above.

For Skolarz EdTech Private Limited	For the Customer (Parent/Guardian/Student)
Authorized Signatory: _______________	Name: _______________________________
Designation: ________________________	Signature (Digital): __________________
Date: _______________________________	Date: _______________________________

ANNEXURE – A

Item	Description	Value / Remarks
Protected Tuition Fee	₹____________	Locked under Plan
Protection Period	__ Months	Start: ___ / End: ___
Forex Rate Secured	₹____ / USD	Locked at activation
Program Fee Paid	₹____________	Non-refundable
Riderz Fee Paid	₹____________	Non-refundable

ANNEXURE – B (Locked Program)

Student Name: XXXXXXXXX

Country (s)     University (s)   Level (UG/masters)    Intake or Admission year    Study Abroad Consultant