You Should Only Pay the Brokerage Fee When Enrollment is Confirmed
Fee for securing a study spot is due upon commencement of studies. - Payment of placement fees is due solely at the time of enrollment in the academic program.
Here's the scoop:
Some folks have found themselves in a pickle when it comes to brokerage fees and university admissions. Let's consider the case of a fella who hired Studimed to nab him a spot in the medicine program at the University of Mostar in Bosnia. He eventually changed his mind, but the broker still wanted a fee equivalent to the yearly tuition, claiming the university had already agreed. That's a big no-no, according to the Federal Court of Justice in Karlsruhe.
You see, when it comes to brokerage, the real estate agent law kicks in. This law states that the fee should only be paid if a contract has been sealed. Since our guy didn't accept the admission offer, no contract was signed between him and the university. If he had to shell out the cash, it would be a raw deal for him.
Always remember, you only need to fork over the brokerage fee once enrollment is confirmed. That's the fair and square deal.
- Enrollment Confirmation
- Brokerage
- Fee
- Federal Court of Justice (Germany)
- University of Mostar (Bosnia)
- Studimed
- Tuition Equivalent Fee
- Contract
- Admission Offer
While our discussion here is specific to Bosnia and Germany, you might want to check out international brokerage platforms accessible in Bosnia and Herzegovina, like Interactive Brokers, Swissquote, Oanda, Admirals, and IG, for stock trading. The fees on these platforms vary, with Interactive Brokers charging $1.0 for US stocks and $3.8 for UK stocks, while Oanda and Admirals don't charge commissions for US and UK stocks.
But if you're looking for information on brokerage fee regulations for university admissions in Bosnia, you might want to consult local educational or legal resources. The available information online focuses mainly on stock trading fees and the economic conditions in the region, which are unrelated to our conversation here.
- According to the Federal Court of Justice in Karlsruhe, a brokerage fee should only be paid once a contract, such as university enrollment, has been officially confirmed.
- In the case of Studimed and the University of Mostar, the broker cannot legally demand a fee equivalent to the tuition before the student's enrollment has been confirmed, as no contract has been signed.
