Common use of Merit Award Clause in Contracts

Merit Award. Where a Bursar is awarded a merit award, such award shall, if awarded prior to the payment of the Bursary, be utilised by the Institution to settle the balance in the Bursars account. Where the award is made after the Bursary has been paid, and if there is a credit balance in the Bursar’s account and provided that credit balance is as a result of the Merit award and not the Bursary, then that credit balance, may be dealt with by the Institution as it deems appropriate.

Merit Award. Where a Bursar is awarded a merit award, such award shall, if awarded prior to the payment of the Bursary, be utilised by the Institution to settle the balance in the Bursars Bursar’s account. Where the award is made after the Bursary has been paid, and if there is a credit balance in the Bursar’s account and provided that credit balance is as a result of the Merit award and not the Bursary, then that credit balance, may be dealt with by the Institution as it deems appropriate.