Terms & Conditions

This signed Authority and Mandate refers to our loan as above.

I hereby authorise you to issue and deliver payment instructions to the bank for collection against my abovementioned account at my above mentioned bank on condition that the sum of such payment instructions will never exceed my obligations as agreed to in the Agreement, and commencing on pay date, continuing until this Authority and Mandate is terminated by me upon full repayment of the loan, or by giving you notice in writing of no less than 20 ordinary working days, and sent by prepaid registered post or delivered to your address indicated above.

Penalties and collection charges will be for my account should I fail to honour a repayment on due date. The individual payment instructions so authorised to be issued must be issued and delivered as follows i.

On payday as above for this month, and in the event that the payment day falls on a Saturday, Sunday or recognized South African public holiday, the payment day will automatically be the very next ordinary business day.

Further, if there are insufficient funds in the nominated account to meet the obligation, you are entitled to periodically track my account and re-present the instruction for payment as soon as sufficient funds are available in my account on or after the dates when the obligation in terms of the Loan Agreement is due and the amount of each individual payment instruction may not be more or less that the obligation due; I understand that the withdrawals hereby authorised will be processed through a computerized system provided by the South African Banks and I also understand that details of each withdrawal will be printed on my bank statement.

Each transaction will contain a number, which must be included in the said payment instruction and if provided to you should enable you to identify the Agreement.

A payment reference is added to this form before the issuing of any payment instruction. I shall not be entitled to any refund of amounts which you have withdrawn while this authority was in force, if such amounts were legally owing to you. UNPAID DEBIT ORDER Unpaid debits will incur a R50 penalty fee plus overdue interest for each month they remain unpaid Loans above R1,000 will incur a further R500 collection fee if no arrangements are made by the client within three (3) workings days of non payment, as these will forwarded to a 3rd party for collection MANDATE I acknowledge that all payment instructions issued by you shall be treated by my above mentioned bank as if the instructions had been issued by me personally.

CANCELLATION I agree that although this Authority and Mandate may be cancelled by me by prior written notice to you, such cancellation will not cancel the Agreement. I shall not be entitled to any refund of amounts which you have withdrawn while this authority was in force, if such amounts were legally owing to you. ASSIGNMENT I acknowledge that this Authority and Mandate has been ceded to Netcash (Pty) Ltd as per your agreement with Netcash (Pty) Ltd, but in the absence of such assignment of the Agreement, this Authority and Mandate will be null and void.

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