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 from time to time seek expressions of interest from applicants for a grant in accordance with the mission and vision of the ILF.
- The ILF may at its absolute discretion make multiple grants in any year and may not offer any grants in any year.
- All applications must be submitted on the application form(s) as approved by the ILF from time to time.
- The ILF Board may nominate a committee to determine applications for grants.
- The ILF may approve a grant for a program of study and or work experience which may include all or part of the program set out in the application for the grant.
- It is the responsibility of the applicant to prepare a final itinerary or program based on the approved program. The final itinerary or program must include all travel, education expenses and related expenditure details. The ILF reserves the right not to approve a final program for reasons of security, personal safety, health or if the final program does not reflect the approved program.
- The applicant acknowledges that any 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.
- The ILF reserves the right to postpone, cancel or terminate a grant if the applicant changes employment and in the sole opinion of the ILF the purpose for which the grant as awarded may, by reason of such a change, not be substantially fulfilled or 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.
- An approval of a grant is subject to the applicant not suffering any medical condition or disability that might interfere with the completion of the approved program. The ILF may require any successful applicant to furnish a medical report by a medical practitioner nominated by the ILF and may terminate or decline any grant on the basis of that medical report.
- The ILF may fund medical and travel insurance for any travel associated with a grant. Each applicant is required to complete an application form as required by ILF. ILF does not warrant that the insurance is sufficient for the applicant’s purposes. Each applicant should review the travel insurance relevant to their personal circumstances and any additional insurance shall be the responsibility of the applicant.
- The applicant is responsible for gaining the approval of their employer for taking leave to undertake the program.
- The applicant shall refund to ILF any part of the grant including travel costs in respect to any part of the grant that is not for any reason completed.
- The applicant agrees that the grant requires that a report be prepared by the applicant on the activities undertaken under the program and be provided to ILF. The applicant acknowledges that ILF may with-hold a portion of the grant funds to be agreed until the report to the standard required by ILF is received. The ILF may use the report to promote the activities and programs of the ILF.
- Applicants are responsible for obtaining their own advice in respect to the taxation of any grant in respect to their own individual circumstances.
- The award of a grant does not constitute an offer of employment.