for the Postgraduate Program at the Institute for Law and Finance of the Goethe-University Frankfurt am Main

(Convenience Translation, October 2011: The German original of this document remains binding)

On the basis of § 21(3) of the Hessen Higher Education Act in the version published on July 31, 2000 (German Law Rpt. I, p. 374), the University's Presidential Council has issued the following Terms of Enrolment for the Law and Finance Program:

§ 1 Tuition Fee, Amount of Payment

(1) A tuition fee designed to cover costs shall be levied for participation in the post-graduate law and finance program (the "Program") of the Faculty of Law of the Johann Wolfang Goethe University, Frankfurt am Main, conducted for the Faculty of Law by the Institute for Law and Finance (ILF).

(2) The tuition fee for participation in the Program shall be €18,000 for students and €22,000 for students within the meaning of § 8 Para.1 Sentence 2 of the Program and Examination Regulations of the Law Faculty of the Johann Wolfgang Goethe University, Frankfurt am Main, for the postgraduate course in "Law and Finance" leading to the academic degree of "Master of Laws (Finance) (LL.M. Finance) originally issued on 23 January 2002 and amended on 6 February 2008.

§ 2 Services Covered by the Tuition Fee

(1) The tuition fee shall cover participation in the courses and lectures offered in the Program, including all prescribed examinations and the evaluation of the master's thesis, as well as the costs entailed in the conferment of the "Master of Laws (Finance)" degree after the course of studies has been successfully completed. The participants shall be authorised to use the facilities of the Institute for Law and Finance in accordance with the respective use regulations.

(2) The tuition fee does not cover the general registration fee due from students who are immatriculated as students at the University. Such fees when due shall be paid by the students to the University.

§ 3 Persons Paying and Receiving Tuition Fee; Due Date

(1) Payment of the tuition fee shall be due from each person who is offered admission to study at the ILF and accepts such offer.

(2) The tuition fee shall be paid to the Johann Wolfang Goethe University, Frankfurt am Main. The Dean of the Faculty of Law shall request payment from the admitted participant with a billing notice pursuant to § 4 of these Terms of Enrolment. The ILF shall collect any outstanding amounts on behalf of the Faculty of Law.

(3) The claim for payment of the tuition fee shall arise upon delivery of the participant's written declaration of acceptance.

(4) The tuition fee shall be paid in three instalments. A down payment of 10% of the amount specified in the billing notice pursuant to § 4 of these Terms of Enrolment shall be paid within three weeks after such notice is delivered. A further 40% of the specified amount shall be paid no later than October 1 of the academic year in which the participant is admitted. The residual sum shall be paid no later than April 1 of the following year. In the case where a participant is admitted to part-time study, the down payment shall be made within three weeks after the notice is delivered. Of the remaining amount, one payment of 20% shall be made no later than October 1 of the academic year in which the participant is admitted and another payment of 20% shall be paid no later than April 1 of the following year. The residual sum shall be paid in equal parts no later than October 1 and April 1 of the following year thereafter.

(5) Registration in the Program shall take place only after receipt of the down payment specified in § 3(4) of these Terms of Enrolment. A right to participate in the Program shall arise only upon timely payment of the instalments specified in § 3(4) of these Terms of Enrolment. Without prejudice to the prerequisites specified in § 10(4) of the Program and Examination Regulations, the certificate shall not be handed over pursuant to § 16(2), sentence 2 of the Program and Examination Regulations until the entire tuition fee has been paid.

§ 4 Collection of the Tuition Fee

The Dean of the Faculty of Law shall specify in the billing notice, in particular:

- the amount due;

- the date by which payment must be made; and

- the account on which payment is to be transferred.

§ 5 Cancellation of the Obligation to Pay the Tuition Fee

(1) The obligation to pay the tuition fee shall be cancelled if the admitted participant, before the beginning of lectures for the first semester, is prevented from participating in the Program by events over which he or she has no control. In such case, the admitted participant must notify the ILF as soon as the intervening event occurs, but in no case later than 14 days before the beginning of lectures for the first semester. If the Dean so requests, the admitted participant shall provide evidence of the event's occurrence. With the exception of the down payment provided for in § 3(4), moneys already paid shall upon request be returned to the admitted participant. The admitted participant may also request, in the case he or she is admitted to the Program for the following year, that the moneys paid be wholly or partially applied to sums due for such year. The Dean shall make a decision on any such request.

(2) The obligation to pay the tuition fee shall generally not be cancelled if the participant becomes unable to continue participation in the Program after the commencement of lectures. If the participant is prevented from continuing by events beyond his or her control, the Dean may waive the participant's obligations to pay further instalments or apply moneys already paid wholly or partially to a tuition fee for the following year, provided that the participant has been admitted for such year.

§ 6 Application of the Hessen Administrative Costs Act

In addition, the Hessen Administrative Costs Act in the version published on January 12, 2004 (German Law Rpt. I, p. 36) shall apply.

§ 7 Effective Date

These Terms of Enrolment shall enter into effect when officially published.