Free Scholarship Agreement

1. Introduction

This Scholarship Agreement (“Agreement”) is made and entered into as of the [1st day of January, 2050], by and between:

Scholarship Provider:
[Your Company Name]
[Your Company Address]

Contact Person: [Contact Person’s Name]
Email: [Contact Person’s Email]
Phone: [Contact Person’s Phone Number]

Recipient:
[Recipient's Full Name]
[Recipient's Address]
[City, State, ZIP Code]

Email: [Recipient’s Email]
Phone: [Recipient’s Phone Number]

2. Purpose

The purpose of this Agreement is to outline the terms and conditions under which the Scholarship Provider will grant a scholarship to the Recipient for the academic year commencing in September, 2050. This scholarship aims to support the Recipient’s educational expenses and encourage academic excellence.

3. Scholarship Details

3.1 Amount and Disbursement

The Scholarship Provider agrees to provide the Recipient with a scholarship amount of [USD 10,000] for the academic year [2050-2051]. The scholarship funds will be disbursed in the following manner:

• Initial Payment: [USD 5,000] upon signing of this Agreement.

• Subsequent Payment: [USD 5,000] following the submission of the first academic progress report due June 30, 2051.

The scholarship funds will be disbursed directly to the educational institution where the Recipient is enrolled.

3.2 Educational Institution

The scholarship funds are designated for use at the following educational institution:

Institution Name:
[Institution’s Name]
[Institution’s Address]

Institution Contact: [Institution Contact Name]
Email: [Institution Contact Email]
Phone: [Institution Contact Phone Number]

4. Recipient's Responsibilities

4.1 Academic Standing

The Recipient agrees to:

• Maintain a minimum cumulative GPA of [3.0] on a 4.0 scale.

• Remain enrolled as a full-time student throughout the duration of the scholarship.

4.2 Reporting Requirements

The Recipient agrees to submit an annual progress report to the Scholarship Provider by June 30th of each year. This report should include:

• Academic transcripts or proof of grades.

• A written summary of academic achievements and extracurricular activities.

• Any challenges or changes in the educational status.

• Notify the Scholarship Provider of any changes to enrollment status or contact information within [10] business days.

4.3 Conduct and Integrity

The Recipient agrees to:

• Adhere to the code of conduct and policies of the educational institution.

• Act with integrity and avoid any actions that may negatively impact the reputation of the Scholarship Provider.

5. Termination and Reimbursement

5.1 Termination

This Agreement may be terminated by the Scholarship Provider under the following conditions:

• Failure to maintain the required academic standing.

• Violation of any terms outlined in this Agreement.

• Withdrawal or expulsion from the educational institution.

5.2 Reimbursement

In the event of termination, the Recipient agrees to reimburse the Scholarship Provider for any funds disbursed that are not used in accordance with this Agreement. The reimbursement amount will be calculated based on the proportion of the scholarship that remains unused at the time of termination.

6. General Provisions

6.1 Amendments

Any amendments to this Agreement must be made in writing and signed by both parties. Amendments may include adjustments to scholarship amounts, payment schedules, or reporting requirements.

6.2 Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the State of [State], without regard to its conflict of laws principles.

6.3 Dispute Resolution

Any disputes arising under this Agreement shall first be addressed through mediation, conducted in good faith by both parties. If mediation fails, disputes will be resolved through binding arbitration in accordance with the rules of the Arbitration Association and conducted in [City, State].

6.4 Confidentiality

Both parties agree to keep confidential all information related to this Agreement, including the scholarship amount and Recipient’s personal and academic information, except as required by law or as necessary for the administration of the scholarship.

6.5 Force Majeure

Neither party shall be held liable for any failure or delay in the performance of its obligations under this Agreement due to circumstances beyond its reasonable control, including but not limited to natural disasters, war, or acts of terrorism.

7. Signatures

IN WITNESS WHEREOF, the parties hereto have executed this Scholarship Agreement as of the date first above written.

Scholarship Provider

Name: [Your Company Representative]
Title: [Representative's Title]
Date:                               

Recipient

Name: [Recipient’s Full Name]
Date:                               

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