With the introduction of the National Credit Act, 2008 and the Protection of Personal Information Act, 2012 (amongst other regulatory matters) it is critical for most businesses to undertake a review or update of their current credit application forms. This document is compliant with the current legislative framework. It is designed for businesses operating as transporters.
A written acknowledgement of debt is an important document. It confirms a debtor’s indebtedness and also provides for repayment terms. If the creditor subsequently needs to institute legal proceedings, this document will be critical.