Terms & Conditions

General Terms and Conditions for IMD Programs

Welcome to IMD – International Institute for Management Development. We are a foundation duly organized and validly existing under the laws of Switzerland with its registered office at Chemin de Bellerive 23, 1007 Lausanne, Switzerland (“IMD”).

To meet both the professional and academic objectives, the IMD General Terms and Conditions (the “Terms”) are set out below and govern the relationship between IMD and you, the participant (“Participant”). Participant refers to any individual who interacts with a Program, including applicants, accepted individuals, and active attendees, unless otherwise specified), (both the “Parties” and each individually a “Party”) in relation to the programs IMD offers as set out on the IMD website in various formats (including, in-person sessions, technology-enabled virtual programs (both live and on-demand), and blended learning that combines physical and digital components, and IMD Sprint programs, as set out on the IMD website at www.imd.org and https://www.imd.org/sprint) (the “Programs” and each individually a “Program”). Acceptance of these Terms by you is a prerequisite for acceptance to a Program offered by IMD. Any deviations from these Terms must be agreed between the Parties in writing.

These Terms apply specifically to Programs and no other topics that may be relevant to your relationship with IMD. This exclusion covers, for example, any specific agreement with IMD regarding your travel, accommodation, or social activities either during or after your participation in a Program.

Additional terms may apply to each Program, including Degree Programs (MBA or EMBA) and Sprint Programs, based on information and other documents communicated to you before, during, and/or after completion of the Program. In the event of any discrepancy between these Terms and the additional terms, these Terms shall prevail.

These Terms may not be modified, superseded, or otherwise replaced, fully or in part, by other terms, conditions, contractual clauses, or sets of rules that would be communicated to IMD, unless they are accepted and signed in writing by duly authorized representatives of IMD. In particular, any communication to IMD of such other terms, conditions, contractual clauses, or other sets of rules (regardless of the way it is communicated to IMD) shall not be held as a valid modification of these Terms and IMD will not be required to respond to such communication.

1. INFORMATION ON AND APPLICATION TO PROGRAMS

1.1. General

The completion of any enrolment or application form (on paper or online), or any other request to enrol in a Program, does not itself entitle you to be enrolled, or in any way participate, in any such Program. This does not imply any right to receive the reasons for the discontinuation or rejection of any application. If applicable, additional information can be found in the handbook specific to each Program.

1.2. Brochures, website content and collaterals

IMD’s brochures and website content are non-contractual and may not be used to request any special delivery or performance in the context of a Program.

1.3. MyIMD account

On applying to a Program through the IMD website or other IMD platform, you will create a MyIMD account. All information provided therein must respect these Terms. Once accepted into a Program, you may be required to update your MyIMD account profile with additional information.

1.4. Application

It is your responsibility to ensure that all required information, supporting documents, and other elements of the enrolment process are received by IMD before the specific deadline and are true, accurate, complete, and in no way misleading or deceptive. IMD may not be held liable for any problem encountered with the filing of an application form, including when done through IMD’s website or any other IMD platform. IMD reserves the right to request additional documents, information, or proof at any time in relation to your application.

When applying through IMD’s website or any other IMD platform, you should receive an automatic confirmation email to the email address provided. Should you not receive such an email, you should contact IMD immediately at: [email protected].

Upon submission, your application will be reviewed to ensure alignment with your objectives and profile. If accepted, you will receive an acceptance letter electronically, along with an invoice where applicable, confirming your Enrolment. A program coordinator will provide pre-program details.

1.5. Insurance

If applicable, you hereby confirm and agree that you will maintain, at your own expense, valid and adequate health and accident insurance coverage for the entire duration of your participation in the Program. This insurance must cover you while you are in Switzerland and/or in any other countries where the Program is conducted.

1.6. Application content

Should any elements of information and/or supporting documents transpire to be wrong, inaccurate, or otherwise misleading or deceptive, IMD may cancel Enrolment, exclude participation in the Program, and withdraw any award, certification, or degree. This shall also apply when failing to cite sources or using the work of others in your application. In such a case, no reimbursement of any fees (as detailed under Clause 2 (Fees, Costs and Expenses) of these Terms) shall be made. IMD reserves the right to claim compensation for any prejudice suffered.

2. FEES, COSTS AND EXPENSES

The following section outlines the payment terms that apply to the Programs, including the tuition fee for the Program you are enrolled in (the “Program Fee”).

Payment method: Payment of the Program Fee must be made using one of the following IMD-approved methods: (i) wire transfer to IMD’s designated bank account, (ii) the dedicated payment portal for Sprint Programs, or (iii) any other method expressly authorized by IMD. The applicable payment method will be specified in the relevant Program documentation or invoice. All costs or expenses associated with the chosen payment method, including but not limited to bank charges or transaction fees, shall be borne exclusively by you.

Payment timing: Except as specifically provided for with respect to IMD’s MBA and EMBA Programs (please refer to the specific additional terms for those programs) Program Fees must be paid in full within 30 days of invoice issuance and prior to the official start date of the relevant Program. In cases where registration occurs within one month of the Program’s initiation, immediate settlement of the invoice is mandatory, without exception. Specific deadlines and payment instructions will be communicated in the Program invoice or through the designated Program portal. Failure to meet the payment deadline may result in denied access or cancellation of Enrolment.

Non-payment: If payment of the applicable Program Fee (fully or for each invoice) is not received in accordance with the specified terms, IMD reserves the right to deny or revoke access to the Program platform, cancel Enrolment, or dismiss you from the Program. It may also lead to IMD withholding Program certification and/or revoking or suspending alumni status. These measures apply to all Program types.

VAT: Unless expressly stated otherwise, all fees are exclusive of any value-added tax (VAT), sales tax, or other indirect taxes that may be applicable in any jurisdiction. Participants are solely responsible for the payment of any such taxes.

Costs and expenses: Participants are solely responsible for all other costs incurred in connection with their participation in a Program. This includes, without limitation, expenses related to travel, accommodation (including any fees resulting from late cancellations, whether booked independently or through IMD), and participation in events, meetings, or conferences organized by IMD or held in the context of a Program. This also applies to any costs associated with applying to or being enrolled in a Program. Additionally, any expenses incurred as a member of the IMD alumni network are the sole responsibility of the alumni member.

3. ENROLLMENT AND ACCEPTANCE ON A PROGRAM

3.1. Acceptance

Should you be accepted by IMD as a Participant in a Program, IMD shall notify you by email. The email address we use is the one you provided us on your application. Once IMD has sent such notification you shall be deemed to have enrolled in the Program (i.e., “Enrolment”). Acceptance requires completion of all scheduled sessions and activities.

3.2. Changes to a program

IMD shall at all times have the right to make changes to any of its Programs, INCLUDING AFTER YOUR ACCEPTANCE.

IMD will use reasonable efforts to deliver each Program as outlined in its official materials, including brochures and the IMD website. However, all Programs are designed to be adaptive and development-focused, and IMD reserves the right to modify any aspect at any time, including but not limited to the timetable, syllabus, location, number of sessions, instructors, external service providers, method of delivery, content, course descriptions, design, and faculty, even after your Enrolment.

IMD will endeavor to inform Participants of any significant changes as early as possible. However, IMD shall not be held liable for any modifications made to the Program.

3.3. Cancellation of a Program by IMD

Should the Program be cancelled by IMD after your acceptance, for whatever reason, IMD will make every effort to transfer you to a replacement Program in accordance with the transfer policy, if applicable, as set out in Clause 3.4.

You may decline the proposed transfer to a replacement Program by notifying IMD within five (5) business days of receiving the transfer offer. In such case, or if no suitable replacement Program is available, any Program Fee already paid shall be reimbursed in accordance with the IMD cancellation policy set out in Clause 3.4 below.

IT IS EXPRESSLY SPECIFIED AND UNDERLINED THAT THERE SHALL BE NO FURTHER RESPONSIBILITY FOR IMD FOLLOWING SUCH CANCELLATION OF A PROGRAM, INCLUDING, IF APPLICABLE, FOR ANY COSTS THAT YOU WOULD HAVE IN RELATION TO YOUR PARTICIPATION IN A PROGRAM SUCH AS TRAVEL OR ACCOMMODATION COSTS. PARTICIPANTS ARE ADVISED TO CONSIDER TRAVEL CANCELLATION INSURANCE.

Cancellation due to Violation of Terms: IMD reserves the right to cancel your Enrolment and dismiss you from the Program if you breach any of these Terms. This includes, but is not limited to, providing false or misleading information during the application process, failing to comply with Program requirements, or engaging in conduct that is deemed inappropriate or disruptive. In such cases, no reimbursement of any fees will be made, and IMD may withhold Program certification and/or alumni status. IMD also reserves the right to claim compensation for any damages or losses incurred as a result of the breach. Participants will be notified in writing of any such actions taken by IMD.

3.4. Cancellation by a Participant or Transfer to Another Session Requested by a Participant

You may cancel or, if applicable, transfer the Enrolment by giving IMD written notice either to your IMD contact or by sending an email to [email protected]. Subject to the applicable Program, IMD will honor cancellations or any applicable transfers as set out below.

4. PARTICIPATION IN A PROGRAM AND GENERAL CONDUCT

You are required to act professionally during a Program, when on and off campus.

Failure to comply with the principles outlined below, or in any way deemed relevant to IMD, shall be qualified as unprofessional behavior and may result in sanctions, including exclusion from a Program.

IMD does not endorse the opinions and views expressed by the candidates and organizations admitted to its Programs.

4.1. Professional Integrity

You are expected to behave with integrity and shall abide by all applicable rules of IMD. IMD is committed to providing a working environment in which all individuals are treated with respect and dignity and shall take all measures to that effect. Certain behaviors are deemed unacceptable including the following:

• Abusive, defamatory, or hurtful statements, including but not limited to ethnic, racial, religious, or gender-attacking language, are not tolerated in the Programs and may lead you to exclusion from the Program.
• Any form of discrimination, harassment, or retaliation for any reason whatsoever committed by a person present in a Program.
• Behaviour that is offensive, disrespectful, demeaning, or oppressive and undermines the positive environment necessary for learning. Arriving late or leaving early from programs, coming late to class, entering and leaving class while in session, surfing smartphones, or leaving group work discussions may be considered disruptive behaviours.
• Failing to cite sources or claiming the work of others as one’s own work.
• Deceiving or misrepresenting oneself in an injurious way to peers, faculty, any IMD team member, or any third parties.
• Contributing less than an equal or one’s fair share to group assignments.
• Receiving external support for assignments (team or individual) other than editing/proofreading for language syntax.
• Disrespect of Program deadlines and attendance requirements.

This list is not exhaustive. You are always expected to display appropriate standards of ethics, integrity, and professionalism in your actions and relationships.

Your participation in a Program is personal to you and you may not share or transfer your rights or access to any Program to which you are enrolled or provide access to the Program to any third party.

IMD reserves the right to monitor location-based information (including but not limited to IP addresses) that is used to access a Program (including any materials provided). If you are found to be in contravention of the access rule set out above, IMD may terminate your access to the Program. In such circumstances, no refunds will be given.

4.2. IMD’s Reputation

You are expected to abide by the laws of Switzerland or any country where the Program takes place. In addition, engaging in any action or displaying any attitude that may affect the reputation of IMD negatively shall be considered unprofessional and may result in sanctions including your exclusion from a Program.

5. GRADING AND EVALUATION

IMD is at liberty to identify and determine the applicable grading system and criteria. You shall be informed of the details and changes in the Program grading system.

5.1. Programs with Degrees

IMD offers several programs that offer a degree upon successful completion of requirements. The programs IMD offers are set out on the IMD website at https://www.imd.org/ .

The bestowing of a degree, as well as all grades that are given to you, shall be decided by the faculty members and other course providers responsible for each assignment within the Program.

It is essential for IMD to ensure that any grades and evaluations are done according to clear standards. The goal of graded feedback is to maintain degree standards and to ensure the acquisition of learning. The level of feedback is at the discretion of the faculty member responsible for each assignment.

5.2. Programs without Degrees

For non-degree programs, you shall receive a certificate of attendance on the condition that attendance and participation requirements specified for the Program are met.

5.3. Dismissal

If you do not demonstrate sufficient competence in the subject area requirements of the Program, and/or behave unprofessionally, you cannot remain in the Program. Dismissal may also imply a chronic situation that does not respect subject matter and assignment requirements or professional conduct, and which is deemed irreversible. Dismissal means that you must leave the Program and cannot re-enter that Program at any point in the future.

The dismissal decision is taken by the Program Director. It is final and has immediate effect.

6. ALUMNI

6.1. Alumni Status

Alumni status (recognition as an IMD alumnus or alumna) is conferred exclusively by IMD and is not automatically granted upon completion of a Program. The applicable eligibility criteria for the conferral of alumni status are set out in IMD’s Alumni Policy, as published and updated from time to time on www.imd.org/alumni/policy. IMD retains full discretion to interpret and apply these criteria, to amend them at any time, and to designate additional Programs as conferring alumni status. IMD also reserves the right to withhold or revoke alumni status if a Participant does not fulfil the applicable requirements or breaches these Terms, including, without limitation, cases of non-payment of Program Fees or misconduct as referred to elsewhere in these Terms.

6.2. IMD Alumni Association (IAA) Membership

The rights, obligations, services, and benefits associated with alumni status are governed exclusively by the Terms and Conditions of the IMD Alumni Association (the “IAA Terms”), as published and updated by IMD from time to time. Granting of alumni status by IMD may render a Participant eligible for membership in the IAA, through which alumni-related services and activities are organised and administered. These Terms do not enumerate, create, or guarantee any alumni rights or benefits; all such matters, including, without limitation, any alumni communications, events, directories, or club activities, are addressed solely under the IAA Terms. Alumni are required to consult, accept, and comply with the IAA Terms in force at the relevant time for the applicable framework governing alumni participation. For the avoidance of doubt, references in these Terms to alumni matters are made solely to direct alumni to the IAA Terms and shall not be read as supplementing or modifying them.

7. PROCESSING OF PERSONAL DATA AND CONFIDENTIAL INFORMATION

7.1. Processing of Personal Data

In the context of the Programs, IMD needs to process personal data relating to you. Such processing is done at all stages linked to the Programs, i.e., downloading of information, application, enrolment, participation, and management of the alumni network. All processing activities of personal data by IMD are subject to and framed by IMD’s Privacy Notice. This Privacy Notice is available on IMD’s website (https://www.imd.org/settings/privacy/).

IMD ensures that your personal data is processed in accordance with applicable data protection laws, including the Swiss Federal Data Protection Act (nFADP) and the General Data Protection Regulation (GDPR). The processing of your personal data is based on the execution of a contract with you, the data subject. Personal data may be shared with third parties under limited circumstances, such as for program administration and to facilitate the smooth running of programs. IMD takes all reasonable measures to protect your personal data and ensure its confidentiality.

IMD is not responsible for the processing of personal data by other Participants of Programs, including when such processing is done in the context of a Program, on IMD’s premises, and/or otherwise during an event or activity organized by, or linked to, IMD. It is your responsibility to ensure that the processing of personal data respects all applicable data protection laws.

7.2 Audio, Photo, Video, Written and Derivative Materials

Photographs, audio recordings, live streams, videos, written materials, and derivative works (collectively referred to as “media”) may be captured during events at IMD (such as conferences, dinners, etc.) as well as in the context of the Programs. These media constitute an essential part of such events or Programs.

As a general rule, you will always be informed before any media specific to you is taken. If you do not wish to appear in specific media, you must inform the responsible person for the event at the latest when the information is provided to you.

Regarding general media linked to activities at IMD, such media may be taken by both IMD and other participants. You understand that you may appear in such media, including photographs and videos. IMD cannot be held responsible for media taken by other participants, including in the context of Programs or events at IMD.

All such media as mentioned above (the “Material”) may be used by IMD, within the applicable legal framework, for any educational, commercial, and/or promotional purposes worldwide in any medium and in any form whatsoever. This includes, without limitation, the reproduction, display, publication, performance, distribution, broadcast, and making available of the Material in whole or in part. Such uses include the publication of videos online on IMD’s website, on sharing platforms such as YouTube, on presentation platforms such as Kulu Valley, in concurrent broadcasts such as live video streaming, and in photographs appearing in print or online.

Where you have provided your consent to specific media collection, you waive all moral rights in the Material, including the right to inspect or approve any display. You assign all author’s and neighbouring rights in the Material to IMD and waive any right to compensation for, or ownership of, such Material.

7.3 CCTV Systems

For security reasons, IMD’s premises are protected by a general CCTV system. The CCTV system is contracted by IMD to a third-party supplier (data processor).

As a rule, the images of the IMD CCTV system are stored for no longer than 14 days. Exceptions may apply, however, particularly where the observation, or suspicion, of any wrongful or damageable activity on IMD’s premises.

The images of the CCTV systems may be communicated to state authorities upon their request or in any other case in which such communication would be required to protect IMD’s lawful interests.

7.4 Confidential Information

You must respect the confidentiality of all confidential information that you acquire in the course of participating in a Program. Confidential information includes, but is not limited to, any information, documents, reports, electronic files, and other materials, whether disclosed orally, in writing, or through other media, that is disclosed by IMD or other participants during the Program. This includes information obtained during interviews, meetings, assignments, presentations, and other activities related to the Program, whether such information is marked as confidential or not.

You acknowledge that the information shared with you during the Program is confidential and proprietary to IMD and other Participants. You agree to treat all confidential information with the utmost care and confidentiality, and not to disclose, use, or permit the use of such information for any purpose other than your participation in the Program, without the prior written consent of IMD.

Furthermore, you agree to comply with all applicable laws of the territory where the Program is delivered, including but not limited to data protection and privacy laws. You also agree to take all reasonable measures to protect the confidentiality of the information, including implementing appropriate security measures to prevent unauthorized access, use, or disclosure.

Further information can be found in the handbook specific to each Program.

The obligations of confidentiality shall survive the completion of the Program.

7.5 Technical support and access

Where IMD has direct control over the system, software, or setting involved, if you are unable to access a Program that is delivered virtually, IMD will use reasonable endeavors to provide a solution. If the issue lies with your hardware, systems, software, WiFi, network, or settings, IMD may, solely at its own discretion, provide assistance to help you resolve the issue. Please note any failure by you to connect to a virtually delivered Program shall not give rise to any refund of a Program Fee.

You accept and acknowledge that periods of downtime may be required with respect to the information technology infrastructure connected to the Program and that technical assistance may not be available during such periods of downtime. Further, you accept that you will not have a claim for breach of contract or otherwise in respect of such period of unavailability.

IMD will use reasonable endeavors to make a virtually delivered Program available but cannot guarantee uninterrupted, timely, or error-free availability, or that defects will be corrected. IMD reserves the right to suspend access to a virtually delivered Program for the purpose of scheduled or emergency maintenance, repairs, or upgrades to improve the performance or functionality of the related website.

You also accept and acknowledge that IMD cannot be held responsible for any delay or disruptions to your access to a virtually delivered Program as a result of such suspension or any of the following:

• the operation of the internet and the world wide web, including but not limited to viruses;
• any firewall restrictions that have been placed on your network or the computer you are using to access the Program;
• failures of telecommunications links and equipment; or
• updated browser issues.

IMD does not make any commitment to you that a virtually delivered Program will be compatible with or operate with your software or hardware.

8. Intellectual Property

All intellectual property rights and related rights, whether registered or unregistered, including but not limited to copyrights (including moral rights), trademarks, service marks, trade names, logos, trade secrets, patents, utility models, design rights, domain names, rights in databases, know-how, inventions, methodologies, processes, algorithms, source code, data, research, reports, questionnaires, models, and any other proprietary information or materials, as well as all applications, renewals, extensions, and rights to apply for any of the foregoing (collectively referred to as “Intellectual Property”), are protected and retained by IMD.

IMD Intellectual Property: IMD retains all rights, title, and interest, including all Intellectual Property, in any and all materials, content, methodologies, tools, or know-how used or provided by IMD in connection with the Programs. This includes any pre-existing materials and any deliverables developed and provided by IMD to Participants, as well as all Intellectual Property in materials designed and/or developed by IMD and utilized in the Programs. This encompasses pedagogical outputs, platforms, webinars, video recordings, and all online tools and documents developed for student assessment, academic engagement, feedback, and other curriculum-related purposes, as well as all work done by Participants in the course of a research project managed by IMD. Nothing in these Terms shall be construed as granting Participants any rights, whether by license or otherwise, in or to IMD’s Intellectual Property, except as expressly agreed in writing by IMD. IMD may use its Intellectual Property in the development of other programs and in its general provision of academic services.

Participant Contributions: Unless otherwise expressly agreed in writing by IMD, any materials, content, research, designs, models, questionnaires, exercises, and other deliverables created, developed, or prepared by Participants in the course of a Program shall be considered “Work Product” and shall be the sole and exclusive property of IMD. Participants hereby irrevocably assign to IMD, on a worldwide basis and for the full duration of rights, all rights, title, and interest, including all Intellectual Property, in and to the Work Product. To the fullest extent permitted by law, this assignment shall include moral rights. IMD shall have full discretion to determine whether and how to credit Participants as authors.

Use of IMD Intellectual Property: IMD grants Participants a perpetual, non-exclusive, royalty-free, fully paid-up, non-transferable right and license to access, view, and use the IMD Intellectual Property only for the purposes of receiving instruction and participating in the Program. For the avoidance of doubt, the license granted by IMD does not include the rights to transfer, sell, or license IMD Intellectual Property to any third party; reuse or reproduce IMD Intellectual Property for any purposes including internal communication and training purposes; modify or adapt IMD Intellectual Property for any purpose; communicate, display, upload, or publish IMD Intellectual Property on any medium; or use IMD Intellectual Property in any other way not consistent with the conducting of the Program .

Company Intellectual Property: For Participants taking part in a Program who are affiliated with a company, any intellectual property owned by that company shall remain the exclusive property of the company. Participation in the Program does not transfer, assign, or grant any rights to IMD or any other party in relation to the company’s intellectual property.

Use of Third-Party Material: Participants must ensure that any materials they use or incorporate into their Work Product do not infringe the intellectual property rights of any third party. With the exception of short excerpts constituting fair use, Participants must obtain prior written consent from the relevant copyright holder for any third-party copyrighted content used in their Work Product. Participants shall bear all responsibility for complying with such obligations.

Plagiarism: IMD strictly prohibits plagiarism, which is the act of copying another person’s idea, music, artwork, or written work and claiming it as original or as one’s own work. Any infringement of copyrights or other intellectual property rights will allow IMD to take appropriate action, including but not limited to termination of the Participant’s enrolment in the Program.

Infringement and Compliance: Participants are expressly made aware that the obligations set out in this Intellectual Property clause are of particular importance for IMD and that any violation or non-compliance may cause significant prejudice or damage to IMD. Participants may be held accountable for any and all such prejudice or damage. This precision does not limit any and all other responsibilities of the Participants pursuant to other clauses of these Terms.

Confidentiality: Participants must keep confidential all information relating to IMD’s Intellectual Property and any other confidential information disclosed during the Programs. Participants shall not use, disclose, or permit the use of such information for any purpose other than their participation in the Programs, without the prior written consent of IMD.

9. Force Majeure

For the purposes of this clause, the term “Force Majeure Event” shall mean any event, cause or occurrence or series of events, causes, or occurrences beyond the control of a Party, including without limitation, strikes, natural disasters, telecommunication outages, riots, terrorist acts, explosions, hostilities, chemical or biological contamination, epidemic, pandemic, civil or military disturbances, and any other event or circumstance which leads to a general disinclination to travel.

In no event shall a Party be responsible for any loss or damage resulting from any delay or failure in the delivery of a Program or any part thereof, or its ability to perform its obligations hereunder, if such delay or failure is caused directly or indirectly, in whole or in part, by a Force Majeure Event. Once the Force Majeure Event has ended, the parties shall, as soon as practicable, resume the performance of all its obligations.

10. Governing Law and Jurisdiction

These Terms, as well as any and all matters arising out or in relation to them (including non-contractual disputes or claims and their interpretation) shall be governed by the laws of Switzerland, to the exclusion of the rules on conflicts of laws.

Any claim or dispute regarding the Terms or in relation to them shall (including for non-contractual disputes or claims and their interpretation) be subject to the exclusive jurisdiction of the Courts of Lausanne, Switzerland, subject to an appeal at the Swiss Federal Court.

11. Miscellaneous

It is your sole responsibility to ensure that all required conditions to attend the Program are met. This includes any requirements linked to visas or other authorizations required. IMD has no responsibility in this context.

IMD does not provide advice or legal guidance surrounding visas and other requirements.

IMD complies at all times with Swiss and applicable foreign laws, including anti-money laundering, corruption, and sanctions laws and regulations. BY ACCEPTING THESE TERMS YOU REPRESENT AND WARRANT THAT THE PAYMENT OF ANY PROGRAM FEES TO IMD IS NOT DIRECTLY OR INDIRECTLY DERIVED FROM ANY ENTERPRISE OR ACTIVITIES THAT CONTRAVENE SWISS OR APPLICABLE FOREIGN LAWS, INCLUDING ANTI-MONEY LAUNDERING, CORRUPTION, AND SANCTIONS LAWS AND REGULATIONS. You also agree and undertake to provide any information or documents deemed necessary by IMD to comply with any of its Know-Your-Customer or management risks guidelines or program, and related responsibilities from time to time.

IMD will never make or offer any payments to or confer or offer any benefit upon any third party, including any person/firm employed by or on behalf of any government official/employee, political party, employee of any political party, or political candidate with the intent to influence the conduct such third party in any manner.

IMD cannot accept responsibility and expressly excludes liability for any loss or damage to your property that occurs whilst you are on the Program. You should take particular care not to leave personal belongings unattended at any time.

Monetary Cap for Liability: IMD’s total liability to you for any claims arising out of or in connection with your participation in the Program, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, shall be limited to an amount equal to the Program Fee actually paid by you. This limitation of liability does not apply to any liability for death or personal injury caused by IMD’s negligence, fraud or fraudulent misrepresentation, or any other liability that cannot be excluded or limited by law.

Survival Clause: The following provisions of these Terms shall survive the termination or expiration of your participation in the Program: Processing of Personal Data and Confidential Information (Clause 7) and Intellectual Property (Clause 8), and any other provisions which by their nature are intended to survive termination. These provisions shall remain in full force and effect and shall be binding upon you even after the completion of the Program.

If any provision of these Terms is held to be unenforceable for any reason, it shall be replaced rather than voided, if possible, in order to achieve the intent of the Parties to the fullest extent possible. In any event, all other provisions of these Terms shall remain valid and enforceable to the fullest extent possible.

By accepting these Terms, you acknowledge that you have read, understood, and agree to be bound by them.

General Terms and Conditions for IMD Programs. Last updated on: 02 September 2025.