BLOCK RATE CREDIT (BRC)
Block Rate Credits
Block Rate will be defined as discount credits made available only to students who are committed to completing their training program AND make payments in blocks of $1500.00 each and which will be applied towards Aircraft rental/Instruction charges described in Pay as You Go & Rate Sheet “A”. A $150 Block rate discount credit will be issued on each $1500.00 block payment. Block rate discount credit is applied towards Program completion only and any unused portion of all funds paid and credited must be flown off. There will be no refund of block rate credit issued or deposits made under Rate Sheet “B” under any circumstances as such discount credits are only offered to those students intending to complete the signed for training program.
“BRC” is not redeemable in cash as these are credits provided by OCFC towards course completion
Block Rate Credit (“BRC”) is a program completion credit and given is to students who deposit $1,500.00 at a time and is applied towards program completion only. What that means is that “BRC” is not redeemable in cash as these are credits provided by OCFC towards program completion AND can only be applied towards the cost of flight training and aircraft rental. Furthermore, “BRC” is never to be applied to negative accounts. Any monies paid should first be applied to bring an account to positive or zero and only after which a student will be eligible for “BRC”. What does this mean? If, for example, a student on the day of the flight is either negative, zero balance or has a balance that is positive, but if he flies that day without pre- paying on his account and his account will become negative, he must pay up before the day ends. However, If an account is left negative overnight then no “BRC” will be applied until his account is zeroed out or is brought current. Please note, from here onward we will have zero tolerance to negative accounts which means a renter or student cannot fly or an aircraft SHALL NOT BE DISPATCHED without an account being current or in positive status. Effective immediately, OCFC will not dispatch an aircraft when the renter has accumulated a negative account. The dispatcher who dispatches an aircraft when there is an outstanding balance shall be personally responsible and held liable for the negative account in an amount equal to the resultant negative amount at least until the account is brought current by the renter/student. If for some reason inadvertent an account becomes negative, it must be brought to a zero status or positive within seven days from the date the account becomes negative, failing which either the student and/or the dispatcher will have to assume full responsibility for the losses incurred by OCFC.
In order for any student to avail of any discounts and discount credit offered, their account should be in good standing at all times, which means that the student account cannot have a negative balance at any time during the training period. Furthermore, any discount offered by OCFC, whether written or verbal, is not an obligation but at the sole discretion of OCFC.