INDUSTRY LEADERS FUND INC (ILF) – TERMS AND CONDITIONS OF AWARD OF GRANT
The award of a grant by the ILF is subject to the applicant’s agreement to be bound by the following terms and conditions. All applicants will be required to agree in writing to these terms and conditions prior to any application being considered.
- The ILF may approve the Grant for the program of study and or work experience (“approved program”) which may include all or part of the program set out in my application for the Grant. Any request by me to change from my approved program to another program will require the approval of the Chief Executive Officer, the President and one additional Board member of the ILF, which they may grant or refuse at their absolute discretion. To be effective such approval must be evidenced in writing by the Chief Executive Officer and such changed program will become my approved program.
- I shall prepare a final itinerary and program based on the approved program. The final itinerary and program must include all travel, education expenses and related expenditure details. I acknowledge that the ILF reserves the right not to approve a final program for reasons of my security, my personal safety, my health, my conduct or if the final program does not reflect the approved program.
- The ILF may at its absolute discretion make multiple grants in any year and may not offer any grants in any particular year.
- All information included on my application form and all supporting documentation is warranted to be true and correct.
- I acknowledge that the Grant is not an award or grant of a specific amount of money but is payment by the ILF of education and travel expenses and travel allowances as approved by the ILF. I further acknowledge that the Grant is not for the total cost of my attendance and participation in the program.
- The approval of the Grant is subject to me not suffering any medical condition or disability that might interfere with the completion of the approved program. The ILF may require me to furnish medical reports by medical practitioners nominated by the ILF and may terminate or decline any grant on the basis of those medical reports. I agree to undertake medical examinations for the purposes of those reports and provide copies of the reports to the ILF if requested to do so.
- The ILF reserves the right, at its absolute discretion, to postpone, cancel or terminate the Grant in the event that the applicant is unable for any reason to undertake the approved program within a reasonable period from the approval of the grant. In any event, if I fail to enrol and commence my approved programme by the second anniversary of the 31 December after the date of the awards ceremony at which I was awarded the grant, the grant shall lapse and be null and void unless an extension is approved by of the Chief Executive Officer, the President and one additional Board member of the ILF, which they may grant or refuse at their absolute discretion. To be effective such approval must be evidenced in writing from the Chief Executive Officer.
- The ILF reserves the right at its absolute discretion to postpone, cancel or terminate a grant if I by my activities or any form of communication bring the reputation of the ILF, the Scholars or the Industry Leaders Fund Scholars Network into disrepute to any degree.
- The ILF reserves the right, at its absolute discretion, to postpone, cancel or terminate a grant if the applicant changes employment and in the opinion of the ILF the purpose for which the grant as awarded may, by reason of such change, not be substantially fulfilled.
- It is a condition of providing the Grant that I shall secure medical and travel insurance appropriate for my needs for the activities associated with the grant, and acceptance of the Grant shall be regarded as confirmation by me that I have done so. I acknowledge that I am responsible for my own security and personal safety and that the ILF has made no representation or warranty in relation to these or any related matters. I absolve and hold harmless the ILF and all of its officers, employees and Board members, from liability for any and all harm, damage or injury that I or my dependents may suffer as a result, directly or indirectly, of accepting the Grant.
- I am solely responsible for obtaining all passports, visas and other relevant travel documents.
- I shall, upon request by the ILF, provide full and complete accounts, including supporting evidence, for the use of the grant funds pursuant to these terms and conditions, and refund to ILF any part of the grant, including travel costs, that is not for any reason completed.
- It is a condition of the Grant that a report be prepared by me on the activities undertaken under the program and that this report be provided to the ILF. The ILF may use the report to promote the activities and programs of the ILF. I acknowledge that the ILF may require repayment of a proportion of the Grant funds if I fail to provide the report to the standard required by the ILF and may exclude me from The Industry Leaders Fund Scholars Network until such time as I provide the report to the satisfaction of the ILF.
- I shall obtain my own advice in respect to the taxation of the Grant in respect to my own individual circumstances, and any other effect that the Grant may have upon my personal financial position and confirm that I have not relied upon any advice in relation such matters that may have been received from the ILF.
- The award of a grant does not constitute an offer of employment or an offer of a consultancy between the ILF and myself.
- I shall provide all reasonable assistance to the ILF and its officers and staff, to support and promote its aims and objectives and its continued activities, before during and after the approved programme. Such support shall include but not be limited to, assisting other applicants during the application process with course choices and other relevant matters, mentoring other scholars, addressing audiences at ILF events on my experiences of accepting a Grant, personal and employer benefits flowing from the Grant and promoting ILF activities, as requested.
- The ILF reserves the right to distribute the contact details of the applicant to the Scholars in the Industry Leaders Fund Scholars Network.
- I acknowledge that these Terms and Conditions constitute the entire agreement between me and the ILF and any changes to the agreement must be in writing and signed by myself and the ILF,