Payment Plan Policy

1. Purpose

This policy establishes the requirements for managing payment plans at Ace Dance Studios, providing flexible payment options while ensuring financial obligations are met consistently and within agreed timeframes.

2. Eligibility and Approval

2.1 Payment plans are available to all students and families and may be requested before or after invoices become overdue.

2.2 All payment plans must be approved by a Studio Owner or Studio Manager and confirmed through a written Payment Plan Agreement.

2.3 Management may decline a request where a previous payment plan has not been honoured.

2.4 Partial payments towards invoices do not constitute an approved payment plan unless a formal arrangement has been established.

3. Payment Plan Requirements

3.1 Payment plans operate through agreed weekly or fortnightly instalments towards all applicable studio fees, including monthly fees, competitions, costumes and additional expenses.

3.2 Instalment amounts will be determined by the student's ongoing financial commitments and any outstanding balances. Payments must be sufficient to cover ongoing fees and progressively reduce overdue amounts within the agreed timeframe.

3.3 Payment plans must not result in outstanding balances remaining consistently overdue or increasing over time. Management may require instalment amounts to be increased where payments are insufficient to meet financial obligations.

3.4 Where an account holder fails to maintain the required payment amount or does not comply with an approved adjustment, the payment plan may be reviewed or terminated, and further action may be taken in accordance with Section 5 of this policy.

3.5 Payments will be allocated to the oldest outstanding invoices first. Surplus payments will remain as account credit towards future fees, subject to applicable refund rights.

4. Payment Deadlines

4.1 Existing overdue monthly fees must be cleared within 4 weeks of commencing a payment plan.

4.2 Competition fees must be paid in full before the relevant competition or travel departure, whichever occurs first.

4.3 Outstanding balances are expected to be settled by 31 December unless otherwise approved in writing.

5. Missed Payments and Non-Compliance

5.1 A seven (7) day grace period applies to missed regular payments, after which Management may issue an email reminder.

5.2 Payment plans will be formally reviewed following two missed payments.

5.3 Where no payment has been received for more than one month, Management may issue a formal overdue notice and require a revised arrangement.

5.4 No late payment fees apply under an approved payment plan.

5.5 Continued non-compliance may result in future enrolments being placed on hold, a review of ongoing participation or lawful debt recovery following written notice and a reasonable opportunity to resolve the balance.

5.6 A payment plan may be considered non-compliant where regular payments are being received but the agreed instalment amount is insufficient to meet ongoing fees and reduce outstanding balances within the required timeframe.

6. Changes, Withdrawal and Re-Enrolment

6.1 Payment plans generally remain in effect for the current dance year. Any changes to payment amounts or schedules must be approved by Management in writing.

6.2 Withdrawal does not automatically cancel outstanding financial obligations or an existing payment arrangement, subject to the Student Agreement and applicable law.

6.3 Re-enrolment with an outstanding balance will be assessed by Management on a case-by-case basis.

7. Responsibilities and Administration

7.1 Account holders are responsible for maintaining agreed payments and communicating any difficulties to Management.

7.2 Studio Management is responsible for approving, monitoring and maintaining accurate records of payment arrangements.

7.3 All payment plans must be documented in a Payment Plan Agreement and acknowledged by the responsible account holder.

7.4 This policy operates alongside the Ace Dance Studios Student Agreement and applicable New Zealand law.