For example, the agreement may require the student to take at least 12 hours of credit per semester or maintain an MPA of at least 3.0. If these conditions are not met, the student could lose the scholarship. The agreement can also determine what a student can use the scholarships for or require the student to write a thank you letter to the donor. A scholarship contract is an agreement between the donor and the recipient that defines the conditions under which a recipient receives the scholarship; it contributes to the protection of the recipient and the organization that awards the scholarship. It is important to understand the importance of a scholarship contract and some common inclusions to help you build a strong contract. A standard contract includes the terms of the agreement and the recognition between the two parties that the conditions are correct and the agreement signed for the conditions to be met. Without written agreement, there may be confusion about what covers the scholarship and what is expected of the student. For example, students may consider a $500 per semester scholarship to be $500 per semester for the remainder of their academic career. On the other hand, the donor may have only planned to offer a one-time grant of $500, or US$500, divided equally between the fall and spring semesters of each academic year. The phrase “conditions may apply” often comes in terms of special offers, giveaways and coupons. Typically, these terms and conditions are designed to ensure compliance with the law and protect the supplier from legal or financial risks. People also often have to accept certain conditions to use certain websites, applications or software for the same reasons.
But what about the terms of the stock market? The first step is to determine the terms of the contract. Is there a precondition for the recipient`s curriculum? Your academic performance? Or maybe they have to be in a sport or other extracurricular activity. Make a list of these general and inseminated terms in the contract. Then write a statement that the recipient can initiate or verify, indicating your consent to the provisions. Add a spot for the signature, then receive a copy to the recipient, either a paper copy or an electronic copy. Indicating your criteria in advance on your application form and even linking to your full agreement helps discourage unqualified candidates and optimize your process. The parties must both tick a box and give another form of consent for having read and accepted the terms of the contract. There could also be an explanation for the signatory to reject the treaty and declare that he does not agree with the terms. Finally, there is a place for the signing of the fellow that confirms their recognition and consent to the conditions. As with any money-exchange agreement, a scholarship agreement contains clear guidance and expectations for both parties.
The fellow knows that he must maintain a certain MPA, or say, visit a number of firms to get the benefits of the scholarship. The treaty makes it clear what is expected of both parties and ensures that everyone is on the same side. The recipient knows what he or she needs to do to keep the scholarship, and the donor has a record of how much he or she gives. Most scholarships have criteria for who is allowed to receive them. These criteria are part of the terms of the scholarships and can be as broad or specific as the donor chooses. A scholarship can only be awarded to medical students, or it could be available to any student with financial needs on the basis of First-come, First-Service. As soon as both sides agree to an agreement, they both sign. It is preferable that each party has a copy or can easily access a copy.
In ensuring that both parties can access the contract, there is no chance that either party will claim that they did not know or remember any of the provisions.