Contact Hour Funds definition

Contact Hour Funds means the funds paid or payable by the Department under this Contract for the Scheduled Hours of supervised training and assessment reported for a Skills First Student. Contract means this VET Funding Contract and includes all schedules, annexures, attachments, plans and specifications and exhibits to it. Contract Notification means a document issued by the Department via the SVTS that either provides specific information or advice about aspects of this Contract or formally notifies the Training Provider of a variation to this Contract. Control means, with regard to an entity:

Contact Hour Funds means the funds payable by the Department in relation to the scheduled hours reported by the RTO as in respect of an Eligible Individual to whom the RTO has provided the Training Services as detailed in Schedule 1 of this VET Funding Contract. Contract Notifications means contract notifications issued by the Department from time to time via the SVTS.

Contact Hour Funds means the funds paid or payable by the Department under this VET Funding Contract in respect of the scheduled hours of supervised training and assessment reported in relation to an Eligible Individual. Contract Notification means a document issued by the Department from time to time via the SVTS that either provides specific information or advice about aspects of this VET Funding Contract or formally notifies the Training Provider of variation/s to this VET Funding Contract. Control means, with regard to an entity: the legal, financial or equitable ownership, directly or indirectly, of 50 percent or more of the share capital (or other ownership interest, if not a corporation limited by shares) of the entity; control or influence of, or having the capacity to control or influence, the composition of the board or other decision-making body of the entity, or of decision making (directly or indirectly) in relation to the financial and operating policies of the entity, whether or not the control or influence is based on statutory, legal or equitable rights and whether or not it arises by means of trusts, agreements, arrangements, understandings, practices, the ownership of any interest in shares or stock of that entity or otherwise; or effective control of the entity. Corporations Act means the Corporations Act 2001 (Cth). Course Commencement Date means the date of first scheduled training for the first unit of competency towards the completion of the qualification in which the Eligible Individual has enrolled.

Examples of Contact Hour Funds in a sentence

• Subject to the conditions and limitations set out in this Contract, we will pay you Contact Hour Funds by: multiplying the number of Scheduled Hours of training and assessment that you report under this Schedule 1 as delivered, or to be delivered, to a Skills First Student; with the applicable hourly rate per Scheduled Hour as identified in Clause 11.2 of this Schedule 1.

• We are not liable to pay the Contact Hour Funds in excess of the Maximum Payable Hours for a program.

• We are not liable to pay the Contact Hour Funds: in excess of two times the nominal hours per subject as published in the Victorian Purchasing Guide; and in excess of the nominal hours per subject as published in the Victorian Purchasing Guide for RPL.

• We will pay you Contact Hour Funds monthly in arrears based on the Student Statistical Reports you submit to us in accordance with this Contract.

• We will calculate the Fee Waiver Contribution payable by: multiplying the number of Scheduled Hours for which you are entitled to be paid Contact Hour Funds for the Skills First Student; with the applicable ‘Fee Waiver Contribution per Hour’ (fixed value) for the program (as identified on the Funded Programs Report).

• Where a Skills First Student withdraws from a subject, we will calculate Contact Hour Funds for their enrolment in that subject based on the Hours Attended, not the Scheduled Hours.

• We will calculate Contact Hour Funds at the subject level, and you will be paid for the Scheduled Hours reported for the subject in equal instalments over the number of months of scheduled delivery.

More Definitions of Contact Hour Funds

Contact Hour Funds means the funds payable by the Commission in relation to the scheduled hours reported by the RTO as in respect of an Eligible Individual to whom the RTO has provided the Training Services as detailed in the schedules to this Agreement. Department means the State of Victoria acting through the Department of Education and Early Childhood Development (or its successor).

Contact Hour Funds means the funds payable by the Commission in relation to the scheduled hours reported by the Board/Council in respect of an Eligible Individual to whom the Board/Council has provided the Training Services as detailed in the Schedules to this Agreement. Continuing Student is defined in Schedule 3 to this Agreement.