Credit Related Documents
Acknowledgement of Debt
This acknowledgement of debt covers a general acknowledgement of debt and repayment plan. The document excludes a suretyship. Please us the AOD including a suretyship if you need to include a suretyship. Alternatively, if you have multiple suretyships, then you would use this document and use the stand along suretyships provided on the system.
The AOD includes the usual acceleration clause, costs clauses and certificates of balance.
In the preparation of this document, please be mindful of the following:
if the agreement is a credit agreement other than an incidental credit agreement, and the debt is greater than R500,000, and the debtor is not a juristic person with an asset value and turnover of higher than R 1 Million as at the date of the agreement, then the creditor must be registered in terms of section 40 of the National Credit Act, 2008;
the agreement includes a schedule of repayments which must be attached as an annexure.
The National Credit Act, 2008 ("NCA") has application to this contract. If the debtor is a juristic person with either an asset value or a turnover above R1 million, the agreement is not regulated by the NCA.
Section 4 of the NCA provides that the debtor's declaration of asset value and/or turnover is binding (provided of course that the debtor is a juristic person.
It is also very important to note that in terms of Section 40 of the NCA, if a creditor has qualifying debts in excess of R500,000 that creditor must be registered as a credit provider.
Acknowledgement of Debt including a suretyship
This acknowledgement of debt covers a general acknowledgement of debt and repayment plan. The document includes a suretyship. If you have multiple suretyships, then you would use this document and use the stand along suretyships provided on the system.
The AOD includes the usual acceleration clause, costs clauses and certificates of balance.
In the preparation of this document, please be mindful of the following:
if the agreement is a credit agreement other than an incidental credit agreement, and the debt is greater than R500,000, and the debtor is not a juristic person with an asset value and turnover of higher than R 1 Million as at the date of the agreement, then the creditor must be registered in terms of section 40 of the National Credit Act, 2005;
the agreement includes a schedule of repayments which must be attached as an annexure;
the agreement also includes a suretyship. If however the surety is a corporate entity, and more particularly, a corporate entity that is a related party in terms of the Companies Act 2008, then we recommend that you also make use of the suretyship by a company as a separate document.
The National Credit Act, 2005 ("NCA") has application to this contract. If the debtor is a juristic person with either an asset value or a turnover above R1 million, the agreement is not regulated by the NCA.
Section 4 of the NCA provides that the debtor's declaration of asset value and/or turnover is binding (provided of course that the debtor is a juristic person.
It is also very important to note that in terms of Section 40 of the NCA, if a creditor has qualifying debts in excess of R500,000 that creditor must be registered as a credit provider.
In addition to the provisions of the NCA, the Companies Act 2008 is applicable to any suretyship that is signed by a company that is a "related party" vis-a-vis the debtor.
In addition to the provisions of the NCA, the Companies Act 2008 is applicable to any suretyship that is signed by a company that is a "related party" vis-a-vis the debtor.
Cession of Book Debts
This is a cession of book debts or claim that would typically be used in order to secure the repayment of an outstanding debt. The cession pledges the debts owed to the creditor as security.
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The cession is both a primary and a reversionary cession, meaning that if the debtor has already ceded its debts (typically to a bank) then the cession still operates once the primary cession has been discharged. The cession also includes the usual protection mechanisms such as costs clauses, certificates of balance, disclosure of information by the debtor (cedent) and the like.
The AOD includes the usual acceleration clause, costs clauses and certificates of balance. The document includes a declaration of asset value/turnover for juristic persons that are above the respective threshold of R1 million. Repayment provisions are catered for in a repayment schedule that must be attached to the document.
The AOD includes the usual acceleration clause, costs clauses and certificates of balance. The document includes a declaration of asset value/turnover for juristic persons that are above the respective threshold of R1 million. Repayment provisions are catered for in a repayment schedule that must be attached to the document.
Credit Application Form and T&C Freight Forwarding
The terms and conditions used by freight forwarders are very specific - necessarily so. Freight forwarding companies often find themselves entangled in disputes with shippers, SARS and the like. In order for a freight forwarder to avoid the pitfalls of these disputes, they need comprehensive terms and conditions. A clear example of this lies in the fact that - in the absence of clear contractual terms to the contrary - a person that undertakes transportation services takes on the role of a "common carrier" which carries liability for losses or damage occurring while the goods are under its control. These terms and conditions cover all of the bases.
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The cession is both a primary and a reversionary cession, meaning that if the debtor has already ceded its debts (typically to a bank) then the cession still operates once the primary cession has been discharged. The cession also includes the usual protection mechanisms such as costs clauses, certificates of balance, disclosure of information by the debtor (cedent) and the like.
The AOD includes the usual acceleration clause, costs clauses and certificates of balance. The document includes a declaration of asset value/turnover for juristic persons that are above the respective threshold of R1 million. Repayment provisions are catered for in a repayment schedule that must be attached to the document.
The AOD includes the usual acceleration clause, costs clauses and certificates of balance. The document includes a declaration of asset value/turnover for juristic persons that are above the respective threshold of R1 million. Repayment provisions are catered for in a repayment schedule that must be attached to the document.
Credit Application Form and T&C Manufacturer
If the company is a manufacturer of goods it is very important that its terms and conditions cover warranties, claims time frames and returns policies (over and about the usual provisions that would be included in the terms and conditions generally.
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The cession is both a primary and a reversionary cession, meaning that if the debtor has already ceded its debts (typically to a bank) then the cession still operates once the primary cession has been discharged. The cession also includes the usual protection mechanisms such as costs clauses, certificates of balance, disclosure of information by the debtor (cedent) and the like.
The AOD includes the usual acceleration clause, costs clauses and certificates of balance. The document includes a declaration of asset value/turnover for juristic persons that are above the respective threshold of R1 million. Repayment provisions are catered for in a repayment schedule that must be attached to the document.
The AOD includes the usual acceleration clause, costs clauses and certificates of balance. The document includes a declaration of asset value/turnover for juristic persons that are above the respective threshold of R1 million. Repayment provisions are catered for in a repayment schedule that must be attached to the document.
Credit Application Form and T&C Transporters
If the company is engaged in the transportation of goods, their terms and conditions are vital to the management of risk. Among the issues that must be clearly addressed, are concerns about damages arising from delays, accidents and other issues that are generally beyond the control of the transporter. The limitation of liability is critical.
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The cession is both a primary and a reversionary cession, meaning that if the debtor has already ceded its debts (typically to a bank) then the cession still operates once the primary cession has been discharged. The cession also includes the usual protection mechanisms such as costs clauses, certificates of balance, disclosure of information by the debtor (cedent) and the like.
The AOD includes the usual acceleration clause, costs clauses and certificates of balance. The document includes a declaration of asset value/turnover for juristic persons that are above the respective threshold of R1 million. Repayment provisions are catered for in a repayment schedule that must be attached to the document.
The AOD includes the usual acceleration clause, costs clauses and certificates of balance. The document includes a declaration of asset value/turnover for juristic persons that are above the respective threshold of R1 million. Repayment provisions are catered for in a repayment schedule that must be attached to the document.
Credit Application Form and T&Cs Print Industry
If the company is engaged in the print industry, their terms and conditions need to cater for various specific circumstances. Who is responsible for design, are their proofs that are signed off, what about the risk of delays and limitations on liability?.
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The cession is both a primary and a reversionary cession, meaning that if the debtor has already ceded its debts (typically to a bank) then the cession still operates once the primary cession has been discharged. The cession also includes the usual protection mechanisms such as costs clauses, certificates of balance, disclosure of information by the debtor (cedent) and the like.
The AOD includes the usual acceleration clause, costs clauses and certificates of balance. The document includes a declaration of asset value/turnover for juristic persons that are above the respective threshold of R1 million. Repayment provisions are catered for in a repayment schedule that must be attached to the document.
The AOD includes the usual acceleration clause, costs clauses and certificates of balance. The document includes a declaration of asset value/turnover for juristic persons that are above the respective threshold of R1 million. Repayment provisions are catered for in a repayment schedule that must be attached to the document.
General Credit Application Form and Terms and Conditions
This is a general credit application form and terms and conditions, typically used for trading companies
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The cession is both a primary and a reversionary cession, meaning that if the debtor has already ceded its debts (typically to a bank) then the cession still operates once the primary cession has been discharged. The cession also includes the usual protection mechanisms such as costs clauses, certificates of balance, disclosure of information by the debtor (cedent) and the like.
The AOD includes the usual acceleration clause, costs clauses and certificates of balance. The document includes a declaration of asset value/turnover for juristic persons that are above the respective threshold of R1 million. Repayment provisions are catered for in a repayment schedule that must be attached to the document.
The AOD includes the usual acceleration clause, costs clauses and certificates of balance. The document includes a declaration of asset value/turnover for juristic persons that are above the respective threshold of R1 million. Repayment provisions are catered for in a repayment schedule that must be attached to the document.
Irrevocable Payment Guarantee (Company)
Payment guarantees are frequently used by companies to secure debts, often in place of suretyships. The payment guarantee is very similar to the suretyship but is preferred by some credit insurers. This payment guarantee is designed for use by companies registered under the Companies Act 2008. The reason why we have a separate payment guarantee for companies is that - more often than not - the payment guarantee is issued by a related party and therefore, there are additional requirements that need to be complied with, such as compliance with the solvency & liquidity rules.
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The cession is both a primary and a reversionary cession, meaning that if the debtor has already ceded its debts (typically to a bank) then the cession still operates once the primary cession has been discharged. The cession also includes the usual protection mechanisms such as costs clauses, certificates of balance, disclosure of information by the debtor (cedent) and the like.
The AOD includes the usual acceleration clause, costs clauses and certificates of balance. The document includes a declaration of asset value/turnover for juristic persons that are above the respective threshold of R1 million. Repayment provisions are catered for in a repayment schedule that must be attached to the document.
The AOD includes the usual acceleration clause, costs clauses and certificates of balance. The document includes a declaration of asset value/turnover for juristic persons that are above the respective threshold of R1 million. Repayment provisions are catered for in a repayment schedule that must be attached to the document.