The total fee for the EQUIS process is € 40.625 ! (5-year accreditation); € 34.375 ! (3-year accreditation) or € 25.000 ! (non-accreditation) for new applications submitted between 1 January 2012 and 31 December 2013 or for accredited schools starting the re- accreditation process between 1 January 2012 and 31 December 2013. The fee schedule at the time of the (re-)application remains valid throughout that cycle of the School’s accreditation process.
|Application Fee||€ 9,375|
Invoiced on receipt of the finalised datasheet and must be paid by the date of the EQUIS Committee in order to be presented for eligibility. For accredited Schools, due at the time of starting the re-accreditation process.
|Review Fee||€ 15,625|
Due 30 days before the School is due to be presented to the EQUIS Awarding Body for (re-) accreditation.
|If (re-) accreditation||€ 9,375 / 3 years||€ 15,625 / 5 years|
|If non-accreditation||€ 0|
The accredited schools have 2 options regarding the final payment:
- The above amount can be paid in annual instalments of € 3.125 !, each year no later than 30 days after the date on which the Awarding Body conferred the EQUIS label.
- The above amount can be paid at once no later than 30 days after the date on which the Awarding Body conferred the EQUIS label.
Travel, lodging and other direct expenses as incurred by Briefing Visit experts and Peer Reviewers are to be paid without delay by the institution, on submission of receipts.
Peer reviewers will be asked to keep intercontinental travel below € 6.000 !. If the estimated cost exceeds this amount, prior approval must always be sought from the School, copying the EQUIS Office.
CANCELLATION, POSTPONEMENTS, LATE PAYMENTS
Schools withdrawing between the Briefing Visit and the date of the EQUIS Committee meeting when their eligibility would have been assessed will be charged a withdrawal fee of € 1,500.
Should the School decide to cancel or postpone the Peer Review visit, the School will be liable for any non-refundable costs incurred by the Peer Reviewers at that time.
Any postponement, rescheduling or cancellation of the Peer Review will require the payment of an administration fee of € 1.500 should this occur more than 6 months in advance of the planned PRV date. A fee of 5.000 will be charged should this occur within 6 months of the scheduled PRV date.
In order to advance in the accreditation process, a School must be up to date in all its payments to EFMD.