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Credit Agreements

Once-off credit agreements: Is registration as a credit provider under the National Credit Act required? by Johanei Borstlap

Is registration as a credit provider under the National Credit Act 34 of 2005 (“the NCA”) required for a once-off credit agreement? This was the issue in the case of Du Bruyn NO & others v Karsten (929/2017) [2018] ZASCA 143 (28 September 2018). Mr. De Bruyn and Mr. Karsten conducted business together as shareholders in two …

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Standard acknowledgements of debt and the National Credit Act (NCA)

The new NCA does not only regulate installment sale agreements and lease agreements in respect of movables as was done by its predecessor, the repealed Credit Agreements Act 75 of 1980. The NCA also applies to a much wider variety of credit agreements and has no monetary cap. Instead of instituting legal action a creditor …

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