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

• Contact Hour Funds will be paid to the Training Provider monthly in arrears on the basis of Student Statistical Reports submitted by the Training Provider to the Department in accordance with this Contract.

• Payments of Contact Hour Funds to the Training Provider in respect of an Eligible Individual by the Department under this Schedule 1 will be made monthly in arrears by the Department on the basis of Student Statistical Reports submitted by the Training Provider to the Department in accordance with this VET Funding Contract.

• To avoid doubt, no payment is made from Contact Hour Funds in respect of withdrawals with no attendance.

• The maximum hourly value is the relevant ‘Maximum Fee Concession Contribution per hour’ for the course (as identified on the Student Tuition Fee Contribution Report); and the number of hours for which the Training Provider is entitled to be paid the Contact Hour Funds in relation to the delivery of the training and assessment for that course to that Eligible Individual.

• The Fee Waiver/Exemption Contribution payable will be calculated by multiplying: the applicable ‘Fee Waiver/Exemption Contribution per Hour’ (fixed value) for the course (as identified on the Student Tuition Fee Contribution Report); and the number of hours for which the Training Provider is entitled to be paid the Contact Hour Funds in relation to the delivery of the training and assessment for that course to that Eligible Individual.

• Contact Hour Funds paid by the Department to the Training Provider in respect of an Eligible Individual will be calculated at the unit of competency level, such that the Training Provider will be paid for the scheduled hours reported in respect of the unit of competency in equal instalments over the number of months of scheduled delivery, except that each monthly instalment will be for a whole number of scheduled hours.

• The Department is not liable to pay the Contact Hour Funds to the Training Provider in respect of an Eligible Individual in excess of two times the nominal hours per unit of competency as published in the relevant Victorian Purchasing Guide.

• To avoid doubt, the Training Provider is not eligible for Contact Hour Funds from the Department for the Eligible Individual contact hours associated with these units of competency, and must report such units of competency as credit transfer.

• In these instances, payment of Contact Hour Funds in respect of the individual by the Department for the individual unit of competency from which the individual withdrew will be made based on the Hours Attended by the individual prior to withdrawal.

• The Department is not liable to pay the Contact Hour Funds to the Training Provider in respect of an Eligible Individual in excess of the Maximum Scheduled Hours for the applicable course or qualification.

More Definitions of Contact Hour Funds

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.

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 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.

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.