Memorandum of Understanding between UAP and BRAC Bank for Cash Collection Service
University of Asia pacific signed a 'Memorandum of Understanding' with BRAC Bank for cash collection service with a view to expanding and introducing a more systematic, improved and efficient collection. The MOU was signed on July 24, 2013. It has been agreed that under the MOU, BRAC Bank through its own real time online branch network and SME sales service center network will collect cash from the students of UAP within banking hour. Cash deposit through BRAC Bank's own branch network and SME Sales & Service enter network (within banking hour) will be instantly credited in the collection account of UAP maintained with BRAC Bank. BRAC Bank will be collecting UAP's deposit of following operations;
Operation A: Tuition fees
Operation B: Admission fees
Operation C: Other Fees (Caution money, certificate verification & ID card, extracurricular activities fee, registration fee, lab fee, library fee, examination fee, convocation fee).
Under the MOU, both the parties will have option to terminate this MOU before expiry of the contract period by giving 3 (three) months prior notice along with the reason for termination of the MOU to the other party.