Terms & Conditions

1. Payments schedule
The payment schedule attached hereto in the form of pre-agreement statement and quotation sets out the payment information relating to the agreement and must be read as part of this agreement.

2. Consent
The Borrower consents to the Credit Provider obtaining any information from his employer inter alia, without derogating from the generality hereof, details pertaining to the Borrower’s salary, employment, residential address and best contact details. In the event of the Borrower being married in community of property, and the Borrower’s spouses consent is required of this agreement, the Borrower warrants that his/her spouses requisite consent, if any, will be provided within a reasonable period after a request is made by the Credit Provider for same to be provided. The Borrower indemnifies the Credit Provider against any loss or damages it may suffer as a result of a failure to provide such aforesaid consent. The Borrower consents to the Credit Provider obtaining any information from the relevant credit bureau(s).

3. Statements
The Credit Provider shall supply the Borrower with a copy of the duly executed credit agreement or, in the case of an electronic or telephone originated credit agreement a copy of the transcribed agreement. The Credit Provider shall provide a statement of account to the Borrower on or before the last day of month for the duration of the credit agreement, which the Borrower agrees to. The Borrower agrees to collect the statement which will be faxed to the Borrower at an arranged fax number.

4. Marketing
The Borrower consents that Credit Provider, its affiliates, associates and subsidiaries may send advertising and promotional material by email, SMS to his/ her computer, cellular telephone as provided herein. The Borrower furthermore consents to the Credit Provider sending SMS’s to him/her with regards to his/her outstanding balance, when his/her installment is due and payable, when he/she is in arrears with his/her payments and related matters. Should Borrower wish to unsubscribe from such messages, please contact the Credit Provider.

5. Early Settlement
The Borrower is entitled to settle the Agreement at any time, without advance notice to the Credit Provider. The amount required to settle the Agreement shall be total of the following amount: The unpaid balance of the principle debt up to the settlement date: The unpaid interest charges up to the settlement date: and All other fees, charges and insurance payable by the Borrower to the Credit Provider up the settlement date.

6. Consumer’s right to terminate the agreement
The Borrower may terminate this agreement at any time by paying the settlement amount due to the Credit Provider, in accordance with paragraph 6 above.

7. Credit Provider’s right to terminate the agreement
The Credit Provider reserves the right, to terminate this agreement and proceed with legal proceedings, which proceedings may result in a Court of law enforcing the payment of the Borrower’s outstanding obligation in terms of this agreement. Any judgment of such Court, as aforesaid, shall be recorded by credit bureau available to other credit providers.

8. Penalty Interest on arrear amounts
Should the Borrower default and/or fails to pay any amount on the due date thereof, then same shall attract penalty interest as calculated below: -the Borrower shall be liable for and pay interest, calculated on the total amount which is payable but is unpaid at the same rate as set out in the proposed loan agreement and quotation, from the date of default to the date of payment in full; and -the full outstanding balance of the capital together with total cost of credit charges (including any unpaid accrued interest) and 34 (thirty four) percent debt collection fee, at the sole discretion and instance of Credit Provider, immediately become due, owing and payable.

9. Payments
Payments will be allocated firstly towards payment of any due or unpaid interest thereafter any due or unpaid fees or charges (including legal costs, if any) and lastly the capital. I hereby authorize the Credit Provider to debit funds for collection at my account provided in my application form on condition as agreed in this agreement.

10. Breach of Agreement
If the borrower is in default for at least 20 days, subject to 10 days written notice, the Credit Provider may approach the court for an order to enforce the loan agreement including a claim for all outstanding amounts and/or damages. The Borrower agrees to pay all reasonable cost of collection of payments and further agrees to pay all legal cost on an attorney and client scale caused by his/ her default including debt collector’s costs and tracing fees.

11. Complaints
Complaints may be directed to the Credit Provider at the contact details provided in the Agreement.

12. Cession
The Credit Provider has the right on written notice to the Borrower to transfer (cede and assign) all the Credit Provider’s rights and obligations in this Agreement to a third party and the Borrower will then pay the third party instead of the Credit Provider.

13. Entire Agreement
This agreement constitutes the entire agreement between the parties relative to the subject matter hereof and supersedes all representatives, warranties, agreements or undertakings previously made relative to such subject matter, and no such representations, warranties, agreement or undertakings shall be of any force and effect unless contained herein. No indulgence, extension of time, relaxation or latitude which the Credit Provider may show, grant or allow to the Borrower shall constitute a waiver by the Credit Provider of any of its right and Credit Provider shall not thereby be prejudiced or stopped from exercising any of its rights against the Borrower which may have then already arisen or which may thereafter arise. No variation of any of the terms and conditions of this agreement will be binding on the parties unless committed to writing and signed by them respectively. Should any provision or portion of this agreement be unenforceable by law, void or voidable, such provision shall be severable from the remaining provisions hereof which shall remain in full force and effect.