REGISTRATION AS A CREDIT PROVIDER UNDER THE NATIONAL CREDIT ACT Lending money without being registered as a credit provider may have a dire effect on your rights as a lender. It is therefore important to know whether you are required to register as a credit provider under the National Credit Act (“the Act”) before entering …
Registration of credit providers under the NCA by Zorada Temmingh Read More »
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 …
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regulate installment sale agreements and lease agreements in respect of movables as was done by its predecessor, the repealed Credit Agreements Act 75 of 1980.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 …
Standard acknowledgements of debt and the National Credit Act (NCA) Read More »