Despite their significant presence in western business schools, the needs and experiences of international students have not been adequately reflected in the business education literature. We draw upon psychological contract theory--used to understand employer-employee relationships--to develop a novel theoretical model on the international student-usiness school relationship. Based on a review of psychological contract and international education literatures, we propose that students perceive a variety of institutional obligations arising from explicit and implicit promises made by business schools. Fulfilment or breach of these obligations will impact upon students' educational performance and satisfaction. We also examine ways in which students' cultural orientation might moderate the psychological contract process.