1. Interpretation and definitions

In these terms and conditions:

1.1 clause headings are for convenience;

1.2 unless the context indicates a contrary intention, an expression that denotes:

1.2.1 the singular includes the plural and vice versa;

1.2.2 any gender includes the other genders;

1.2.3 a natural person includes a juristic person and vice versa; and

1.2.4 any number of days will be calculated by excluding the first and including the last day, or where the last day falls on a day that is not a business day, the next business day;

1.3 unless the context requires otherwise, the following words and expressions have the meanings set out hereunder:

2 Professional One Account

2.1 If the Account is a Professional ONE Account, to open and keep Your Professional One Account, You must always:

2.1.1 give us any documents we require for credit assessments; and

2.1.2 meet the credit requirements for the Professional One Account as set out in the prevailing Pricing Schedule.

2.2 If You do not, We may exercise our rights in terms of clause 3.13 below.

3 Use of the account

You agree that:

3.1 We will open a banking account for You, the type of account and styling of which will be indicated by You;

3.2 You will supply Us with the details of the signing arrangements (and any changes thereto) on the Account;

3.3 We may debit the Account with the amounts of all transactions carried out by You, and pay all cheques, promissory notes, bills of exchange and other negotiable instruments drawn, made or accepted by You, whether the Account is in credit or otherwise;

3.4 We are authorised to receive and deposit any cheque to the Account, but the proceeds will be available only when the cheque has been honoured. If the cheque is dishonoured, the Account will be debited accordingly;

3.5 all cheque deposits are subject to a clearance period, which normally is seven business days, but may vary;

3.6 if a cheque deposited by You is returned unpaid, We will inform You within a reasonable period;

3.7 negotiable instruments will be returned to You at Your risk;

3.8 the use and handling of the Account are subject to the clearing rules between banks, and between banks and the Automated Clearing Bureau, including the Rules of the Payment Association of South Africa;

3.9 You will not have the right to stop any payment We make or are about to make to any third party in respect of any transaction, nor will You have the right to instruct Us to reverse a payment in respect of a transaction that has already been made, except as provided otherwise by law;

3.10 We will restrict the use of an Account when legally obliged to do so;

3.11 You will conduct the Account in a manner acceptable to Us;

3.12 We reserve the right to monitor the use of the Account for assessing compliance with and adherence to the product rules;

3.13 if You no longer qualify for the Account, We have the right to migrate You to an account for which You do meet the qualifying criteria. Such migration will be communicated to You and the terms and conditions and Fees for that account will then apply;

3.14 We have the right to claim any difference in the pricing applicable to the two accounts from You, from the date that You cease to qualify for the Account to the date of the migration;

3.15 You may not cede, assign or otherwise encumber any of Your rights or obligations in and to the Account (including the funds held in the Account) without Our prior written consent, which consent may be subject to any terms and conditions stipulated by Us at Our sole discretion.

3.16 We may accept instruction by electronic means;

3.17 We must comply with local and international laws, regulations, policies and requirements with regard to anti-money-laundering, counter- terrorist financing and sanctions. We may therefore continuously screen, verify, process and monitor all your and any related information, instructions and transactions effected by you and/or on your behalf. This may result in your transactions or the use of your account being prohibited, delayed, withheld, limited, declined or conditionally approved, your funds being confiscated and/or our relationship being terminated.

4 Use of cards

4.1 Subject to Product Specifications, You and/or Your authorised representative may deposit and/or withdraw cash from the Account, and generally operate the Account through access to an ATM, SSK and a point-of-sale device by using the Card together with a PIN, if required.

4.2 You will select a PIN for Your Card. This is a secret number that only You know. This number must be encoded on the Card by Us and is used as a means of user identification. It is important that Your Card is not used fraudulently. You must therefore:

4.2.1 take proper care of the Card and the Card number;

4.2.2 not allow anyone other than Your authorised representative to use the Card and PIN;

4.2.3 always take reasonable steps to keep the Card safe and the PIN secret;

4.2.4 never tell anybody who offers to help, including any of Our employees, the PIN;

4.2.5 never write down or record the PIN.

4.3 You will be liable for any transactions performed with the Card if You have given Your PIN to someone else.

4.4 The Card is valid from the time it is issued or from the first day of the 'valid from' date on the Card, as the case may be, until it expires, or until the Agreement is terminated.

4.5 You may not cede or delegate any of Your rights or obligations in respect of the Card or its use.

4.6 You must sign the Card on the back with a ballpoint pen as soon as you receive it.

4.7 We are the owners of the Card and when the Account is closed, You must give the Card back to Us (or to any person who is authorised to act on Our behalf) or provide Us with written confirmation that Your Card has been destroyed.

4.8 If the Card, the Card number or PIN:

4.8.1 is lost, stolen or used wrongfully; or

4.8.2 is used by any person other than You or Your authorised representative;

You must notify Us immediately by calling the number provided on Your statement or on the Card itself or by contacting any of Our branches. You must also notify Us immediately if anyone obtains knowledge of Your PIN or if You suspect that this has happened. You will be provided with a reference number during the telephone call. You will be liable for and must repay to Us all amounts We pay or have to pay if the Card, Card number or PIN is used, unless it has been reported as being lost, stolen or used wrongfully. You will also be liable for any transactions that were made before the above notification but processed only thereafter.

4.9 We may debit Your Account with the amounts of:

4.9.1 all transactions carried out by You or with Your authority by means of the Card and the PIN; and

4.9.2 all transactions not authorised by You, but which have been carried out by means of the Card and PIN before We have had the reasonable opportunity, after the verbal notification in terms of clause 4.8 above, to prevent any further unauthorised transactions.

4.10 Except where a transaction is made by means of a PIN or by telephone or on the internet, You must sign a sales voucher or a refund voucher, as the case may be, each time the Card is used or the Card number is given to a merchant or supplier. By signing the voucher You confirm that the information on it is correct.

4.11 Unless You have notified Us that the Card has been lost or stolen in terms of clause 4.8, even if You do not sign the relevant vouchers, You will be liable for and must repay to Us all amounts We pay in respect of Your Card Transactions.

4.12 You must comply with all applicable exchange control regulations when the Card is used outside the common monetary area. Card Transactions made in foreign currencies will be converted into South African rand at an exchange rate determined by Us and will be shown on Your statements in South African rand. An additional fee may be payable by You for such transactions.

4.13 You may not use the Card for any unlawful or illegal transaction and it is Your duty to make sure that a transaction is lawful before the Card is used.

4.14 The Card may be used only for payments and transactions specified in the Product Specifications for that type of account.

4.15 When You use any electronic device, You do so at Your own risk and We will not be held liable for any loss or theft resulting from the use of any device.

4.16 When making withdrawals at ATMs outside the borders of South Africa, the daily withdrawal limit may be different from the daily withdrawal limit at ATMs in South Africa.

4.17 You authorise Us (which authorisation may not be cancelled):

4.17.1 to pay any purchases or services in respect of which the Card or the Card number is used and to debit the amount concerned to Your Account;

4.17.2 to debit Your Account with the amount of the sales voucher or any other cash amount withdrawn; and

4.17.3 to make the necessary entries to do the above and to reverse these entries when appropriate.

4.18 We will in no way be liable to You if any merchant or supplier does not accept the Card or the Card number, or if We refuse to authorise any Card Transaction.

4.19 If there are any claims or disputes between You and the merchant or supplier in respect of the nature, quality or quantity of any goods or services obtained by You from the merchant or supplier or in respect of any other matter, Our right to receive payment from You will not be affected in any way, nor will it give anyone a right of setoff or counterclaim against Us. You hereby acknowledge that no merchant or supplier is Our agent.

4.20 If a merchant or supplier refunds You, the refund will be credited to Your Account only if and when We have received a properly issued credit voucher from the merchant or supplier.

4.21 By keeping and/or using the Card You accept all these terms and conditions in respect of the use of the Card.

5 Contactless transactions

5.1 For the purposes of this clause:

5.1.1 'Contactless payment' means a payment transaction that may or may not require a PIN that is made for an amount below the contactless transaction limit and where the contactless-enabled Card is placed against a compatible payment device or within close proximity of the contactless-payment device.

5.1.2 'Contactless payment device' means a point-of-sale device that is enabled to perform contactless payments.

5.2 A Card may be enabled to make contactless payments.

5.3 You may make a contactless payment for an amount below the prescribed limits without the use of a PIN.

5.4 When You make a contactless payment without the use of a PIN, You do not have the right to dispute this payment or have it charged back.

5.5 You cannot make internet purchases or cash withdrawals at an ATM or cash withdrawals at retailer points of sale using contactless payment technology.

6 Interst

6.1 We will not pay interest on any account, unless this is specifically agreed in writing or where this is part of the Product Specification.

6.2 Where applicable, interest will accrue to credit balances, calculated on the end-of-day balance, and capitalised monthly.

6.3 Interest rates on credit balances will be the rates specified on www.nedbank.co.za or will be available from the NCC or at any branch, levied in accordance with the type of account indicated by You or, if applicable, the rates as subsequently agreed with You.

6.4 If the end-of-day balance is a debit balance, debit interest at the maximum interest rate for credit facilities, as prescribed from time to time in the regulations promulgated in terms of the NCA, or, if applicable, the rate subsequently agreed with You, will accrue to the Account.

6.5 We may change the interest rates on credit balances at Our discretion.

6.6 Interest on debit balances will be calculated daily from the date on which the Account goes into debit on the basis of a year of 365 days, whether or not the year is a leap year, and is debited monthly in arrear. Any interest not paid on or before the due date for the payment thereof will bear further interest at the rate applicable to this Agreement.

7 Withdrawals

7.1 Funds are available on demand, subject to:

7.1.1 daily withdrawal limits at ATMs;

7.1.2 withdrawal limits at teller terminals; and

7.1.3 cheque deposits having been cleared.

8 Deposits

There is no limit on the number and size of deposits that can be made on the Account.

9 No right to overdraw the account

9.1 You must ensure that there are sufficient funds in the Account to pay for any debits against the Account.

9.2 The Account must always have a zero or credit balance. We will only grant You credit if You apply for a credit facility and it is approved by Us subject to separate terms and conditions applicable to the credit facility.

9.3 If We have not granted You a credit facility but the Account has a debit balance, the full debit balance will be payable immediately. In such instance We will charge Our standard Fees to the Account and interest will be levied on the debit balance in terms of clause 6.6 above.

10 Fees and taxes

10.1 We will charge Fees in accordance with the prevailing Pricing Schedule, or as agreed with You. Such Fees will be debited in accordance with the prevailing Product Specifications.

10.2 The Pricing Schedule that contains information regarding the Fees, is available at any branch or at www.nedbank.co.za.

10.3 You confirm that You have read and understood the Fees for Your Account.

10.4 You must pay all Fees when due to Us.

10.5 We are entitled at Our reasonable discretion to vary any Fees, or the items attracting Fees, provided that if the NCA applies to this Agreement, no Fees will exceed the maximum amount or no items attracting Fees will exceed the stipulations of the NCA, as prescribed from time to time.

10.6 We will give You reasonable notification before Fees or items that attract Fees change.

10.7 Fees that attract value-added tax will include value-added tax.

10.8 In addition, if the NCA applies, You must pay any:

10.8.1 default administration charge imposed by Us to cover administration costs incurred because You are in default of an obligation under this Agreement; and

10.8.2 collection costs that may be charged by Us in respect of the enforcement of Your monetary obligations under the Agreement (other than a default administration charge); provided that such charges and costs will not (to the extent that the NCA applies to this Agreement) exceed the maximum default administration charges and collection costs prescribed from time to time in the NCA.

10.9 Interest at the interest rate applicable to this Agreement from time to time will be charged in respect of any Fees not paid on or before the due date for payment thereof and this will not prejudice, restrict or in any manner detract from Our rights pursuant to an act of default.

10.10 In addition, and to the extent permitted by the NCA (where applicable), all amounts that We may pay or incur pursuant to this Agreement due to Your default, including any amount actually disbursed by Us, either when collecting any payment owing by You or when exercising any of Our rights arising from any breach of Your obligations in terms of this Agreement, as well as legal costs on the attorney-and-client scale (including tracing fees and any collection commission), will be payable by You to Us on demand.

10.11 All applicable government levies in respect of the use of the Account will be debited to Your Account monthly and paid over to the relevant government body.

11 Statements

11.1 We will at Our discretion, issue regular statements relating to Your Account subject to relevant Product Specifications.

11.2 You elect to receive electronic statements.

11.3 At Our sole discretion an additional cost may be levied against Your Account for paper-based statements, whether posted or obtained at any branch or through any self-service or digital channel.

11.4 If the Account is overdrawn and if the NCA applies to this Agreement, We will provide You with a statement of Account as prescribed by the NCA.

11.5 Where the NCA applies We will provide You with monthly statements by post or email in accordance with the requirements of the NCA.

11.6 It is Your responsibility to check Your Account regularly and report any discrepancies to Us within 30 days of the date of Your detection of the discrepancy.

11.7 If there is a dispute regarding the items appearing on the statement, Our records will be prima facie (on the face of it) proof.

12 Income tax certificates

12.1 After February each year, We will generate:

12.1.1 an IT3(b) certificate only if the amount of interest earned on an Account is equal to or more than the minimum amount prescribed by SARS from time to time; and

12.1.2 an IT3(s) income tax certificate where applicable.

12.2 These certificates will be made available to You on request once they have been generated.

12.3 The certificates indicate the amount of interest accrued and interest paid in the particular tax year, irrespective of whether the interest is paid out in the same tax year.

12.4 These certificates will be sent to SARS regardless of whether the interest paid or earned is equal to or more than the minimum amount of interest prescribed by SARS from time to time.

13 MyPocket

13.1 Depending on the Product Specifications of Your Account, You may have a MyPocket savings pocket linked to Your Account, in which case the following rules apply:

13.1.1 Your Account automatically comes with one MyPocket and You may open another nine MyPockets.

13.1.2 You can choose a name for each MyPocket and can be renamed as many times as you like.

13.1.3 Funds can be transferred to or from a MyPocket to or from Your Account through Nedbank’s digital channels only. Funds cannot be deposited directly into a MyPocket by cash or cheque deposit.

13.1.4 Funds in a MyPocket are always available and You will have immediate access to funds when they are transferred into your Account.

13.1.5 You cannot use a MyPocket at an ATM or point-of-sale device, and no cards or chequebooks are issued on a MyPocket.

13.1.6 You can, however, make third-party payments directly from a MyPocket.

13.1.7 A MyPocket cannot be overdrawn.

13.1.8 Because a MyPocket is linked to your Account, your linked MyPocket(s) will also become dormant or will be closed if your Account becomes dormant or is closed. Any funds in any dormant or closed MyPocket(s) will then be transferred to your Account.

13.1.9 A MyPocket cannot be converted into another type of account.

13.1.10 You may close any MyPocket at any time.

13.1.11 eNotes and No-funds Alerts are not issued on a MyPocket and a MyPocket is not linked to Nedbank Greenbacks or Nedbank Affinity Programmes.

13.1.12 Interest will accrue on the credit balance in MyPocket, calculated on the end-of-day balance and capitalised monthly.

13.1.13 Depending on the balance in a MyPocket, You will earn interest on an escalating basis up to the maximum prescribed by us from time to time. Once this maximum has been reached, interest will accrue on a descending basis.

13.1.14 Information on the interest rates and the maximum balance are available on www.nedbank.co.za or from the NCC or at any branch.

13.1.15 We may change the interest rates on credit balances at Our discretion.

13.1.16 An IT3(b) certificate will be issued only if the amount of interest earned on a MyPocket(s), is equal to or more than the minimum amount prescribed by SARS from time to time.

13.1.17 The Account statement referred to in clause 11 above will not include the balances on MyPocket(s). Statements for MyPocket(s) can be obtained at any Nedbank branch or can be viewed on Nedbank digital channels.

13.1.18 The Pricing Schedule that contains information regarding the Fees applicable to MyPocket, is available at any branch or at www.nedbank.co.za.

13.1.19 You confirm that You have read and understood the Fees for Your MyPocket.

13.2 You do not have to use the MyPocket automatically opened with Your Account if You do not want to. If You do not use the MyPocket, You will not pay any fees and it will not affect Your Account at all.

14 Confidentiality and disclosure of information

14.1 Your personal information will be treated as confidential and will not be disclosed, except in the following circumstances:

14.1.1 when We are legally compelled to do so;

14.1.2 when it is in the public interest to disclose; and

14.1.3 when Our interests require disclosure; or

14.1.4 when disclosure is made at Your request or with Your written consent.

14.2 We may disclose information to credit reference agencies relating to Your personal debts owed to Us:

14.2.1 if You have fallen behind with the repayment of Your debt and have not made alternative satisfactory arrangements with Us (if the amount owed or in arrears is in dispute, this fact will also be disclosed but not the amount itself); or

14.2.2 if You have given Your written consent.

15 Liability

15.1 Except where damage or loss arises directly or indirectly from Our wilful misconduct or gross negligence (or any person acting for or controlled by Us), We will not be liable to You for any damage or loss that You may suffer because of:

15.1.1 any action taken in terms of clause 2.17 above;

15.1.2 Your use of electronic means to communicate with Us;

15.1.3 any person having gained unauthorised access to any information or data;

15.1.4 incorrect information having been given to Us or to any person, including any credit bureau; and

15.1.5 a delay, failure or malfunction of any ATM, SSK or other device (electronic or manual) that You use to carry out transactions on the Account.

16 Dormant accounts

16.1 We are still entitled to charge fees on a Dormant Account.

16.2 Once an Account is dormant, You will be able to perform only credit transactions on the Account and not debit transactions.

16.3 To lift the dormant status on the Account You will have to contact the NCC.

16.4 We may, after notification to You, at Our sole discretion close an Account that has been dormant for such a period as We may determine from time to time.

16.5 We will give You 60 days' notice that the Dormant Account will be closed.

16.6 Once the Dormant Account has been closed, no interest will accrue to the Account.

16.7 Should You wish to claim any credit balance from a closed Dormant Account, You will have to call the NCC or any of Our branches for guidance on the process to be followed.

17 Events of demand

17.1 The following will be events of demand, each of which will be severable and distinct from the others:

17.1.1 if You fail to conduct the Account in a manner acceptable to Us;

17.1.2 if You allow the Account to become overdrawn and fail to rectify such excess on demand;

17.1.3 if You breach any condition contained in this Agreement, or a condition of any other Agreement with Us (which breach will constitute a breach of this Agreement);

17.1.4 if You commit an act of insolvency, or an act similar to an act of insolvency, as defined in the Insolvency Act of 1936 (as amended), or an act defined in terms of section 344 of the Companies Act of 1973 (as amended), if applicable;

17.1.5 if You are unable or cease to conduct the business carried on by You in an ordinary and regular manner, if applicable;

17.1.6 if any of Your material assets are attached under writ of execution; or

17.1.7 if You are voluntarily or compulsorily placed under judicial management, are sequestrated or have Your estate wound up, or enter into any compromise, composition or arrangement with Your creditors or any class thereof.

17.2 Where an event of demand occurs, We may (without limiting any other right We may have) claim immediate repayment of all amounts owing under this Agreement or arising in connection therewith, and all such amounts will immediately become due and payable, together with interest calculated at the applicable rate and levied as agreed in terms hereof.

17.3 No indulgence or extension of time granted by Us to You may be deemed to be a waiver of any of Our rights.

18 Termination

18.1 This Agreement may be terminated unilaterally by either Party.

18.2 You may cancel this Agreement without prior notice to Us, but We will, subject to clause 16, give reasonable prior notice of Our intention to close the Account, except where fraud or suspected fraud is occurring or has occurred on the Account, in which event We may close the Account without prior notice.

18.3 On termination of this Agreement Your right to use any Card that has been issued to You in respect of the Account will terminate. You must immediately return the Card to Us at the address set out in clause 19.1 or destroy the Card to prevent further use.

19 Legal notices

19.1 For all purposes under this Agreement, the Parties choose the following addresses as their respective domicilia citandi et executandi:

Us:                Nedbank 135 Rivonia Campus, 135 Rivonia Road, Sandown, Sandton.

You:             the last known physical address supplied by You.

19.2 Any legal notice to be served on any Party may be served at the address specified for such Party in this clause.

19.3 Legal notices will be valid and effective only if given in writing and delivered by hand or prepaid registered post.

19.4 If delivered by hand, the notice will be deemed to have been received on the date of delivery, provided it was delivered to a responsible person during ordinary business hours.

19.5 If delivered by prepaid registered post, the notice will be deemed to have been received within seven days of the posting date, unless the contrary is proved.

19.6 Notwithstanding anything to the contrary in this clause, a written notice or other communication actually received by any Party will be adequate written notice or communication to such Party even if the notice was not sent to or delivered at the Party's chosen address.

19.7 A Party may by written notice to the other Party change its address for the purpose of this clause to any other address (other than a post office box number), provided that the change will become effective on the seventh business day after receipt of the notice.

19.8 It is Your responsibility to ensure that We are kept informed of any changes to Your personal information, including address and contact details.

20 Certificate

To the extent permitted by the NCA, the nature and amount of Your obligation and the applicable interest rate will be determined and proved by a certificate or any other written evidence ('certificate') purporting to have been signed by a Nedbank manager whose capacity or authority does not have to be proved. Unless the contrary is proved, the certificate will on the production thereof be binding and be prima facie proof of the content thereof and of the fact that the amount is due and payable. The certificate will be valid as a liquid document (alternatively proof of a liquidated amount) in any competent court or for any other purpose.

21 Allocation of payments

Each payment made by You in terms of this Agreement will be allocated firstly to any due or unpaid interest charges, secondly to any due or unpaid Fees, and lastly to the reduction of the capital amount outstanding.

22 Jurisdiction

At Our option any claim arising hereunder may be recovered in any magistrate's court having jurisdiction, notwithstanding the amount of the claim, and You hereby consent to the jurisdiction of that court.

23 General terms

23.1 Before opening an Account, We are entitled to satisfy ourselves of Your suitability as an accountholder.

23.2 We are entitled to refuse to open an Account or accept a deposit.

23.3 You agree that We may combine any or all accounts You may have with Us, without notifying You thereof. However, if We combine only some of these accounts, We will still have the right to claim from You any amount in respect of an account that is not part of the combined accounts.

23.4 The Agreement constitutes the whole agreement between the Parties in connection with the Account.

23.5 We will give you notice of any amendments to the Agreement.

23.6 Any latitude, indulgence or extension of time granted by Us to You will not constitute a novation or waiver of Our rights in terms of these terms and conditions. The failure by any Party to enforce any provision of this Agreement will not in any way affect that Party's right to require performance of the provision at any time in the future.

23.7 Any amendment of the Agreement will not constitute a novation of the Agreement or of any of Your previous obligations to Us.

23.8 Should any competent court find any provision of this Agreement defective or unenforceable, the remaining provisions of this Agreement will continue to be of full force and effect.

23.9 The Agreement will be governed in accordance with the laws of the Republic of South Africa.

24 Alternative dispute resolution

24.1 You may dispute all or part of any particular credit or debit entered on the Account in terms of this Agreement by delivering a written notice to Us. We will give You written notice either explaining the entry in reasonable detail or confirming that the statement was in error, either in whole or in part, and setting out the revised entry.

24.2 Should You not be satisfied with the response referred to above, You have the right to contact the Ombud for Banking Services at: 

24.3 Tel: 0860 800 900/+27 (0)11 712 1800

24.4 Fax: +27 (0)11 483 3212

24.5 Email: info@obssa.co.za

24.6 Physical address: 1st Floor, Houghton Place, 51 West Street, Houghton

24.7 Postal address: PO Box 87056, Houghton, 2041

24.8 In addition to the above, to the extent that the NCA applies to this Agreement, You have the right to:

24.8.1 resolve a complaint by way of alternative dispute resolution;

24.8.2 file a complaint with the National Credit Regulator; or

24.8.3 make an application to the tribunal, provided that any such right is exercised in accordance with the NCA.

24.9 The National Credit Regulator can be contacted at: 

Tel: +27 (0)11 554 2600/0860 627 627

Fax: +27 (0)11 554 2871

Email: info@NCR.org.za

Physical address: 127 15th Road, Randjies Park, Halfway House, 1685 Postal address: PO Box 209, Halfway House, 1685

24.10 The National Consumer Tribunal can be contacted at: 

Tel: +27 (0)12 683 8140

Fax: +27 (0)12 663 5693

Email: Registry@nct.org.za

Physical address: Ground Floor, Block B, Lakefield Office Park, 272 West Avenue, cnr West Avenue and Lenchen Avenue North, Centurion

Postal address: Private Bag X 110110, Centurion, 0046

25 Limitation if the NCA appplies

Clauses 26 to 28 are applicable only if the NCA applies to this Agreement.

26 Credit Bureau information

26.1 We hereby inform You that We supply consumer credit information to the credit bureaus, and in this regard:

26.1.1 You confirm that We may transmit to the credit bureaus data about the application, opening and termination of an account by You;

26.1.2 You acknowledge that information on non-compliance with the terms and conditions of this Agreement is transferred to the credit bureaus; and

26.1.3 the credit bureaus provide a credit profile and possibly credit scores on Your creditworthiness, subject to the credit record.

26.2 We will advise You in terms of the NCA before any prescribed adverse information concerning You is reported to a credit bureau and will provide a copy of that information to You on written request.

26.3 You have the right to have the credit record disclosed and to correct inaccurate information.

26.4 You may contact the credit bureaus at:

26.4.1 TransUnion

Tel: 0861 886 466/+27 (0)11 214 6000

Fax: 0866 701 737

Email: disputeinfo@transunion.co.za

Physical address: Wanderers Office Park, 52 Corlett Drive, Illovo, Johannesburg, 2000 Postal address: PO Box 4522, Johannesburg, 2000

26.4.2 Experian (Pty) Ltd (Headoffice)

Tel: 0861 110 5665

Email: info@experian.co.za

Physical address: Experian House, Ballyoaks Office Park, 35 Ballyclare Drive, Bryanston, 2021 Postal address: PO Box 98183, Sloane Park, 2152

27 Application for debt review

27.1 Without detracting from or in any manner limiting Our right in the event of default, Your attention is directed to section 86 of the NCA, which entitles You, in certain circumstances, to apply to a debt counsellor in the prescribed manner and form to have yourself declared overindebted.

27.2 An application in terms of section 86 of the NCA may not be made in respect of and does not apply to this Agreement if We have proceeded to take the steps contemplated in clause 28 to enforce this Agreement at the time such application is made.

27.3 A debt counsellor who has accepted an application in terms of section 86 must determine, in the prescribed manner and within the prescribed time, whether You appear to be overindebted.

27.4 Depending on the findings of the debt counsellor, the application may be rejected or it may be recommend that You and the respective credit providers voluntarily consider and agree on a plan of debt rearrangement or, if the debt counsellor concludes that You are overindebted, a proposal may be issued recommending that the magistrate's court make an order with regard to any plan or debt rearrangement contemplated in section 86(7) of the NCA.

27.5 If a recommendation by a debt counsellor is accepted by You and each credit provider, such recommendation must be recorded in the form of an order and, if it is consented to by You and each credit provider concerned, filed as a consent order by the debt counsellor in terms of section 138 of the NCA.

27.6 If a debt counsellor rejects an application contemplated in section 86(7)(a) of the NCA, You, with the leave of the magistrate's court, may apply directly to the magistrate's court, in the prescribed manner and form, for an order contemplated in terms of section 86(7)(c).

27.7 If You are in default under this Agreement and this Agreement is being reviewed in terms of section 86 of the NCA, We may give You, the debt counsellor and the National Credit Regulator contemplated in the NCA notice to terminate the review in the prescribed manner. Such notice may be given at any time at least 60 business days after the date on which You applied for the debt review.

27.8 If We give notice to terminate a review as contemplated in clause 27.7 and proceed to enforce this Agreement, the magistrate's court hearing the matter may order that the debt review resume on any conditions the court considers just in the circumstances.

28 Required procedure before debt enforcement

28.1 If You are in default under this Agreement, We may:

28.1.1 give You written notice of the default and propose that You refer this Agreement to a debt counsellor, alternative dispute resolution agent, consumer court or ombud with jurisdiction, with the intent that the Parties resolve any dispute under this Agreement or develop and agree on a plan to bring the payments under this Agreement up to date, and We may not commence any legal proceedings to enforce this Agreement before such notice has been given; or

28.1.2 in circumstances where this Agreement is being reviewed in terms of section 86 of the NCA, give You, the debt counsellor and the National Credit Regulator notice to terminate the review in the prescribed manner at any time at least 60 business days after the date on which You applied for debt review, provided that the requirements set out in this subclause will not apply in circumstances where this Agreement is subject to a debt restructuring order or to proceedings in a court that could result in such an order.

28.2 We may approach the court for an order enforcing this Agreement only if, at that time, You are in default and have been in default under this Agreement for at least 20 business days and:

28.2.1 at least 10 business days have elapsed since We have delivered a notice to You as contemplated in clause 28.1.1;

28.2.2 in the case of a notice contemplated in clause 28.1.1, You have –

28.2.2.1 not responded to that notice; or

28.2.2.2 responded to the notice by rejecting Our proposals.

28.3 Despite any provision of law or contract to the contrary, in any proceedings commenced in a court in respect of this Agreement, the court may determine the matter only if the court is satisfied that:

28.3.1 the procedures contemplated in clause 28.2 have been complied with;

28.3.2 there is no matter arising under this Agreement, and pending before the National Consumer Tribunal established by section 26 of the NCA, that could result in an order affecting the issues to be determined by the court; and

28.3.3 We have not approached a court –

28.3.3.1 during the time that the matter was before a debt counsellor, alternative dispute resolution agent, consumer court or the ombud with jurisdiction;

28.3.3.2 despite You having –

28.3.3.2.1 agreed to the proposal made in terms of section 129(1)(a) of the NCA and acted in good faith in fulfilment of that Agreement;

28.3.3.2.2 complied with an agreed plan as contemplated in section 129(1)(a) of the NCA; or

28.3.3.2.3 brought the payments under this Agreement up to date, as contemplated in section 129(1)(a) of the NCA.

28.4 In any proceedings contemplated in section 130 of the NCA, if the court determines that:

28.4.1 this Agreement is subject to a pending debt review in terms of part D of chapter 4 of the NCA, the court may –

28.4.1.1 adjourn the matter, pending a final determination of the debt review proceedings;

28.4.1.2 order the debt counsellor to report directly to the court, and thereafter make an order contemplated in section 85(b) of the NCA; or

28.4.1.3 if this Agreement is the only credit Agreement to which You are a party, order the debt counsellor to discontinue the debt review proceedings, and make an order contemplated in section 85(b) of the NCA;

28.4.2 there is a matter pending before the tribunal as contemplated in section 130(3)(b) of the NCA, the court may –

28.4.2.1 adjourn the matter before it, pending a determination of the proceedings before the said tribunal; or

28.4.2.2 order the said tribunal to adjourn the proceedings before it, and refer the matter to the court for determination; or

28.4.3 this Agreement is either suspended or subject to a debt rearrangement order or Agreement and You have complied with that order or Agreement, the court must dismiss the matter.

28.5 The provisions of this clause will apply to this Agreement only to the extent that the Agreement is subject to the NCA.

29 Acknowledgement

29.1 You warrant that You have fully and truthfully answered all questions and responded to requests for information by Us relating to this Agreement.

29.2 You confirm that You understand and appreciate the risks and costs inherent in this Agreement, as well as Your rights and obligations under this Agreement.