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Standard Bank of South Africa Limited

1 PART B - TERMS AND CONDITIONS FOR PERSONAL LOANS DEFINITIONS

"Account" means the loan account in your name opened in our books in respect of this Agreement;

"Agreement" means the pre-agreement statement and quotation/cost of credit section – (Part A) of this loan agreement read together with these terms and conditions (Part B) and all letters and notices relating to this document;

"Bank", "we", "us" or "our" means The Standard Bank of South Africa Limited (Registration number 1962/000738/06), its successors in title or assigns;

"Borrower", "you" or "your" means the person described as the Borrower in Part A of this Agreement;

"Business Days" mean any days other than a Saturday, Sunday or a statutory holiday in the Republic of South Africa;

"Collection Costs" means the amount that may be charged by us in enforcing your monetary obligations under this Agreement, but excludes any Default Administration Charges;

"CPA" means the Consumer Protection Act 68 of 2008 and all regulations promulgated in terms of this act;

"Credit advanced" means the loan amount paid to you or on your behalf by us;

"Credit Limit" or "Reduced Credit Limit" means the amount of the Loan, determined from time to time that is available for use by you in terms of this Agreement;

"Current Account" means an active account into and from which deposits and withdrawals can be made by way of cheques, bills, debit authorisations, any of our self-service channels, etcetera;

"Debit Authorisation" means the method by which you effect Repayments that may be required in the "Minimum Repayment" clause in Part A and includes a debit order;

"Default Administration Charges" means charges which you must pay if you default in any payment obligation under this Agreement;

"Deferred Amount" at any time means the amount due by you in terms of this Agreement, the payment of which is deferred and upon which interest is calculated. This amount includes –

interest;

the fees and charges set out in the Quotation/Part A;

Default Administration Charges referred to in clause 6.1 below if such charges become applicable; and

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Collection Costs as referred to in clause 6.2 below if such charges become applicable,

from the date upon which any such amount becomes due or may be levied until all payments due by you in terms of this Agreement have been made in full less any amount paid towards the settlement thereof or any amount credited towards the Deferred Amount at that time;

"Initiation Fee" means the fee in respect of the cost of initiating the Agreement payable by you upon entering into the Agreement;

"Loan" means the amount we have agreed to lend you in terms of this Agreement;

"Loan Account" means the Loan Account in the name of the Borrower opened in our books in respect of this Agreement;

"Magistrates Court Act" means the Magistrates Court Act 32 of 1944 and all regulations promulgated in terms of this act;

"Margin" means the agreed number of percentage points interest charged by us above or below the Prime Interest Rate or Official Rate, whichever is applicable;

"Minimum Repayment" means the amount advised to you by us and reflected on your monthly Statement as the amount to be paid;

"Natural Person" means a private individual, and for purposes of this definition, a trust with less than three trustees, all of whom are private individuals;

"NCA" or "Act” means the National Credit Act 34 of 2005 and all regulations promulgated in terms of this act;

"Official Rate" means the official rate of interest used in the determination of taxable employment benefits, as prescribed by the Income Tax Act 58 of 1962, and all regulations promulgated in terms of this act, being the reference rate in respect of employees of the Bank;

"Parties" means you and us and “Party” means any one of us as the context may indicate;

"Prime Interest Rate" or "Prime" publicly quoted basic rate of interest (percent, per annum/yearly, compounded monthly in arrears and calculated on the basis of a 365 day year irrespective of whether or not the year is a leap year) published by us from time to time as being our prime rate, as certified by any of our managers whose authority, appointment and designation need not be proved;

"Principal Debt" means the total amount owing to us at any time in terms of this Agreement as reflected in the cost of credit (Part A) of this Agreement, being the amount deferred in terms of this Agreement;

"Repayment" means a payment made by you to us;

"Repayment Due Date" means the due date for payment of all amounts due and payable as advised to you by us;

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"Service Fee" means the fee levied by us in connection with the routine administration cost of maintaining this Loan which forms part of the Principal Debt;

"Settlement Date" means the date on which all amounts due and payable to us by you are paid and this Agreement is cancelled;

"Staff" means an employee of any member of the Standard Bank Group;

"Statement" means a document reflecting the transactions made on your Account up to the date of the statement, the full amount owing to us (including any legally permissible interest, costs, fees and charges that may be levied) and the due date of the Repayment due to us;

"Termination" means that you, or us, may withdraw from this Agreement. You will, on termination, be responsible to immediately pay all amounts that are due and payable by you to us; and

"Transaction Account" means an account that offers the ability to deposit, have debit orders, transfer and withdraw funds.

When any number of days is referred to in this Agreement this will exclude the first day and include the last day. Saturdays, Sundays and public holidays in the Republic of South Africa are excluded.

Where we are required to exercise our discretion in this Agreement we will exercise such discretion in a reasonable manner.

The singular includes the plural and vice versa and any gender includes the other gender.

The headings are for convenience only and are not to be taken into account for the purposes of interpreting these terms and conditions. If any provision in the definition section is important and gives rights to or imposes obligations on a Party, then effect will be given to that provision as if it were a provision in the body of the Agreement.

Any reference in this Agreement to legislation or subordinate legislation is to legislation or subordinate legislation at the date of signature of this Agreement and as changed or re-enacted from time to time.

Important clauses which may limit our responsibility or involve some risk for you will be in bold.

2 PROVISION OF FINANCIAL INFORMATION

At our request, you will be required to provide us with your latest financial statements,

contingent liability details and any other reasonably required information of or relating to you.

3 PAYMENTS

3.1 You must pay to us all amounts that are due and payable in terms of this Agreement, on

or before the Repayment Due Date, without any deduction or demand.

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3.2 The Repayments will continue for the duration of this Agreement and while any

amounts are owed by you to us.

3.3 We will credit each Repayment made under this Agreement to your Account on date of

receipt of the payment, as follows:

3.3.1 firstly, to satisfy any due or unpaid interest charges;

3.3.2 secondly, to satisfy any due or unpaid fees or charges; and

3.3.3 thirdly, to reduce the amount of the Principal Debt.

3.4 In the event of an increase in any legally permissible fee, charge or interest rate, in

accordance with this Agreement, we will notify you of the increased fee, charge or

interest rate and will increase the term of the Loan to ensure that the Repayment

amount remains the same for the term of the Loan.

3.5 You have the right at any time to pay in advance any amounts owed to us without notice

or penalty irrespective (i.e. no matter) of whether or not the amounts are due.

3.6 You shall not be entitled to deduct any amount which we may owe to you, from any

amount owing or which may become owing by you to us arising from this Loan in terms

of this Agreement.

3.7 If you have indicated that you will pay the Initiation Fee in cash and you fail to pay such

fee or any part thereof on the date on which you sign this Agreement, you agree that we

may debit the unpaid Initiation Fee to the Loan Account as part of the Principal Debt.

3.8 If you have indicated that you will not pay the Initiation Fee separately, this fee will be

added to the Loan and debited to your Loan Account on acceptance of this Agreement

by you.

3.9 If applicable, the monthly Service Fee referred to in Part A, to which these terms and

conditions are attached, will be debited to the Loan Account.

3.10 You may not be able to draw against certain deposits (for example, bills, cheques, debit

orders) to your Account until they have been duly and legally paid, even if your Account

has already been credited. Such funds are subject to a 7 (seven) Business Day clearance

period.

3.11 We reserve the right, in its sole discretion, to accept payment made other than by debit

order.

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4 STATEMENTS

4.1 We will provide you with a periodic Statement and in the frequency and medium

indicated in the application for this Loan. You may dispute (i.e. query) all or part of the

Statement delivered to you by sending us written notice of your objections.

4.2 Your Statement will show the outstanding balance, and where applicable, the Minimum

Repayment owing to us and the date by which you must make the Repayment to us.

4.3 You should contact us either via a branch or via the <Customer Contact Centre on

telephone number 0860 123 000> if you do not receive a Statement or if you require

any additional Statements. Failure to receive a Statement will not entitle you to refuse

or fail to pay any amount that is due to us.

4.4 Subject to the provisions of clause 15.1 of this Part B, a transfer from or a credit to your

Account is processed on the date on which the transaction is effected.

5 COSTS, FEES AND CHARGES

5.1 We may charge and recover the following fees in respect of this Agreement as set out in

Part A, to which these terms and conditions are attached, provided that the amount of

any fee charged and recovered does not exceed the legal maximum permissible:

5.1.1 an Initiation Fee in respect of the costs of initiating this Agreement;

5.1.2 a monthly Service Fee recoverable by us in connection with the routine

administration cost of maintaining the Loan;

5.1.3 where applicable, the cost of any credit insurance/assurance for which we pay the

premiums on your behalf;

5.1.4 where applicable Default Administration Charges to cover administration costs

incurred as a result of you defaulting on an obligation under this Agreement; and

5.1.5 where applicable Collection Costs, being amounts that may be charged by us in

respect of the enforcement of your monetary obligations under this Agreement,

but which does not include Default Administration Charges.

5.2 Unless stated otherwise, the costs, fees and charges referred to in this clause 5 are

inclusive of VAT, currently 14% (fourteen percent).

5.3 All costs, fees and charges in respect of this Agreement will be debited to the accounts

specified.

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5.4 Where there is a change in the frequency or time for payment of a fee or charge, we will

give you written notice of at least 5 (five) Business Days setting out the particulars of the

change.

5.5 If we charge a fee in respect of this Agreement which is less than the prescribed legal

maximum, then we may at any time increase it by giving you written notice of the

increase no later than 5 (five) Business Days following the date on which the relevant fee

is changed.

5.6 You must pay to us all applicable costs, fees and charges set out in this clause 5,

together with the Principal Debt and interest on the Principal Debt as set out in this

Agreement.

5.7 We may charge and recover from you interest on and in respect of any unpaid interest,

costs, fees and charges referred to in this clause 5 and clause 6 and clause 7 of this Part

B. Interest will be charged at a rate not exceeding the highest interest rate applicable to

any part of the Principal Debt, provided that the amounts that accrue during the time

you are in default will not in total exceed the unpaid balance of the Principal Debt at the

time of default.

6 LEGAL COSTS AND CHARGES

6.1 Default Administration Charges

6.1.1 If you default in any payment obligation under this Agreement we will levy (and

you will pay) Default Administration Charges. Default Administration Charges will

be equal to the amount payable in respect of a registered letter of demand in

undefended actions (i.e. legal action which is not defended by you) in terms of the

Magistrates Court Act, in addition to any reasonable and necessary expenses

incurred in delivering the letter.

6.1.2 If allowed by law, Default Administration Charges will be imposed in respect of

each letter written including –

6.1.2.1 if you are in default under this Agreement we may draw such default to

your attention in writing and suggest you refer this Agreement to a debt

counsellor (if you are a Natural Person) or a dispute resolution agent,

consumer court or ombud with jurisdiction; and/or

6.1.2.2 if you have approached a debt counsellor we may, in respect of this

Agreement, give notice to terminate the review at any time at least 60

(sixty) Business Days after the date on which you applied for the debt

review.

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6.2 Collection Costs

6.2.1 We will charge (and you will pay), in respect of the enforcement of your payment

obligations under this Agreement all costs incurred by us in collecting any amount

due and/or payable in terms of this Agreement. Collection Costs may not exceed

the costs incurred by us in collecting the debt –

6.2.1.1 to the extent limited by law; and

6.2.1.2 in terms of the Supreme Court Act 59 of 1959, the Magistrates Court Act,

the Attorneys Act 53 of 1979, or the Debt Collectors Act 114 of 1998,

whichever is applicable to the court approached by us to enforce this

Agreement.

7 INTEREST

7.1 If a variable interest rate is applicable to this Agreement:

7.1.1 the rate is linked to our Prime Interest Rate or the Official Rate (whichever is

applicable), by a Margin related to Prime or the Official Rate (whichever is

applicable), that is determined by us and has been disclosed in the "Variable

interest rate" clause in Part A to which these terms and conditions are attached;

and

7.1.2 we may, from time to time, vary the interest rate if Prime or the Official Rate

(whichever is applicable) fluctuates, provided that this new rate does not exceed

the legal maximum permissible rate. If we do amend the interest rate, we will

advise you in writing within at least 30 (thirty) Business Days after the change

becomes effective.

7.2 If a fixed rate is applicable to this Agreement, such fixed rate will be charged for the

duration of the Loan provided that this rate does not exceed the maximum legal

permissible rate.

7.3 The interest payable by you is:

7.3.1 calculated on a daily basis on the outstanding balance;

7.3.2 calculated on a 365-day year, irrespective of whether the relevant year it is a leap

year;

7.3.3 charged in arrears and is due and payable on the Repayment Due Date; and

7.3.4 debited to your Account.

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7.4 We shall be entitled to add any unpaid interest to the outstanding balance of the

Principal Debt which at that stage is still payable in terms of this Agreement.

7.5 Except that the total of the amounts contemplated in Part A in respect of the Initiation

Fee, the Service Fee, the insurance and interest, where applicable, as well as Default

Administration Charges and Collection Costs referred to below which accrue when you

are in default may not exceed the unpaid balance of the Principal Debt at the time the

default occurs.

7.6 If the Prime Rate, the maximum permissible NCA rate or the Official Rate (as the case

may be) increases or decreases, the rate of interest payable by you may decrease or

increase, provided that this new rate does not exceed the legal maximum permissible

rate. The Bank shall in such event have the right to increase or reduce the term of the

Loan to ensure that the Repayment amount remains the same for the term of the Loan

and to cater for such change in the rate.

8 CREDIT LIMIT

If a Credit Limit is applicable to this Agreement, then the following will apply:

8.1 you may at any time request us to increase your Credit Limit subject to our normal

credit conditions;

8.2 you may at any time, by written notice to us, request that the Credit Limit stipulated in

clause 1 of this Part A, be reduced and you may request a maximum Credit Limit that

you are prepared to accept. We will confirm your new Credit Limit, and the day on

which it will take effect, in writing to you;

8.3 we may, from time to time, automatically increase the Credit Limit on your Account, if

you have elected the automatic annual limit increase option;

8.4 if you have elected the automatic annual limit increase option, you may at any time

request us to remove this option and only increase your Credit Limit if you request us to

do so;

8.5 the Account has a Credit Limit and you may not exceed it. Any transactions which are

honoured by us, or interest, costs, fees and charges that are due and payable by you

which result in the Credit Limit being exceeded, will be treated as a request by you for a

temporary increase of your Credit Limit. The temporary excess will be due and payable

immediately unless you have made alternative arrangements with us;

8.6 this Loan is granted to you at our sole discretion. We may immediately suspend without

notice to you, and/or subsequently withdraw on at least 10 (ten) Business Days' written

notice to you, all or part of the Credit Limit, or Reduced Credit Limit (if applicable), under

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this Loan, in the event of a material deterioration in your financial position, in which

event all amounts owing will immediately become due and payable by you to us;

8.7 we may also, at our sole discretion, and on at least 10 (ten) Business Days' written notice

to you, withdraw all or part of the Credit Limit, or Reduced Credit Limit (if applicable), in

the event of any such limit (or part thereof) remaining is not used by you for an

extended period of time; and

8.8 we may withdraw the Credit Limit or Reduced Credit Limit on your Account or close,

restrict activity or suspend access to withdrawals on your Account, without notice to you

if we must do so to comply with the law.

9 TERMINATION OF THIS AGREEMENT BY YOU

9.1 You may terminate this Agreement at any time with or without advance notice to us, by

settling the amount owing to us. The amount required to settle this Agreement will be

the total of:

9.1.1 the unpaid balance of the Principal Debt as at Settlement Date; and

9.1.2 all unpaid interest charges and all other costs, legally permissible fees and charges

due or payable by you to us in terms of this Agreement up to and including the

Settlement Date.

9.2 If you would like a settlement quote/Statement in respect of the amount owing on your

Account, we will provide such a quotation/Statement, in writing, within 5 (five) Business

Days of your request to do so.

10 WARRANTIES, REPRESENTATIONS AND UNDERTKAINGS

10.1 You warrant and represent to us on the date on which you sign this Agreement and

every day thereafter for the duration of this Loan that:–

10.1.1 you have the full capacity to effect and carry out your obligations in terms of this

Agreement;

10.1.2 the terms of this Agreement do not conflict with and do not constitute a breach of

the terms of any other agreement or undertaking or act that is binding on you;

10.1.3 all information that you provided to us in connection with the granting of this

Loan is in all aspects true, complete, current and accurate, and you are not aware

of any material facts or circumstances not disclosed to the Bank which, if

disclosed, would adversely affect our decision to grant you this Loan;

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10.1.4 you are not in default in respect of any of your material obligations in connection

with the Loan and no default as specified in clause 11.1 below has occurred or is

occurring; and

10.1.5 you will ensure that you, at all times, comply with legislation and other laws

applicable to this Agreement and your activities.

10.2 You must:-

10.2.1 tell us immediately if you are placed under an administration order, become

insolvent, or have any form of legal disability. On application for insolvency any

amount outstanding under this Agreement will immediately become due, owing

and payable to us; and

10.2.2 where applicable, ensure that the benefits payable under any insurance policies

referred to in this Agreement will be sufficient to replace the property or assets

covered thereby.

11 DEFAULT

11.1 Default in terms of this Agreement will occur if:

11.1.1 you fail to pay any amount payable to us under this Agreement on the due date;

and/or

11.1.2 there is a material deterioration in your financial position. For purposes of this

clause, “material deterioration” means material deterioration in our reasonable

opinion; and/or

11.1.3 the interest and/or costs and/or fees and/or charges are debited to an account,

other than the Loan Account, and there are insufficient funds available, in the

account to be debited, to meet these amounts when they become due and

payable; and/or

11.1.4 you fail to comply with any legislation and/or regulations applicable to this

Agreement and your activities including but not limited to any environmental laws

or responsibilities and, where applicable, any company legislation; and/or

11.1.5 you breach any of the terms and conditions of this Agreement or any agreement

in terms of which you provided collateral to us, and you fail to remedy the breach

within the timeframe provided for in the written notice to do so; and/or

11.1.6 any representation or warranty made in connection with this Agreement or any

other documents supplied by you are materially incorrect or false; and/or

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11.1.7 you publish a notice of the voluntary surrender of your estate or die; and/or

11.1.8 you are placed under administration or commit an act of insolvency as defined in

the Insolvency Act 24 of 1936; and/or

11.1.9 an application or other proceedings have been brought against you or in respect

of you in terms of which you are sought to be sequestrated or placed under

curatorship, in any such event whether provisionally or finally, whether

voluntarily or compulsory; and/or

11.1.10 you compromise or attempt to compromise with your creditors generally or defer

payment of debts owing by you to your creditors; and/or

11.1.11 any representation, warranty or assurance made or given by you in connection

with your application for this Loan or any information or documentation supplied

by you is, in our opinion, materially incorrect; and/or

11.1.12 you generally do or omit to do anything which may affect our rights or Collateral

in terms of this Agreement; and/or

11.1.13 judgment of a competent court against you or for the attachment of assets or for

payment of any amount remains unsatisfied for more than 7 (seven) days after

the date on which it is issued.

11.2 If you are in default, we may –

11.2.1 give you written notice of such default requesting that you rectify the default;

and/or

11.2.2 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 your Repayments up to date; and/or

11.2.3 suspend the Credit Limit, or Reduced Credit Limit, on your Account; and/or

11.2.4 withdraw the Credit Limit, or Reduced Credit Limit, by giving you 10 (ten) Business

Days written notice; and/or

11.2.5 review the terms and conditions applicable to the Loan; and/or

11.2.6 increase the rate of interest charged; and/or

11.2.7 commence legal proceedings to enforce this Agreement, if –

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11.2.7.1 we have given you notice as referred to in clause 11.2.1 above; and

11.2.7.2 you have been in default under this Agreement for at least 20 (twenty)

Business Days; and

11.2.7.3 at least 10 (ten) Business Days have elapsed since we delivered the notice

contemplated in clause 11.2.1; and

11.2.8 in the case of a notice in terms of clause 11.2.1, you –

11.2.8.1 have not responded to that notice; or

11.2.8.2 have responded to the notice by rejecting our proposal;

11.2.9 recover the legal costs and charges, as set out in clause 6 above, from you.

11.3 If you are in default and we exercise our rights in terms of clause 11.2 of this Agreement

and you dispute our right to do so, you must continue to pay the amounts owing to us.

Our acceptance of such payments will not affect any of our rights in terms of this

Agreement or in law.

11.4 In the event of default, we may, at our election and without affecting any other rights

that we may have in terms of this Agreement or otherwise, recover from you payment

of all amounts owing under this Agreement by adhering to the default procedure

described above.

11.5 If you are subject to the NCA you may, at any time pay to us all amounts that are

overdue, together with Default Administration Charges, Collection Costs and/or legal

costs incurred up to the time of reinstatement.

11.6 The above default clauses and default procedure will not apply if:

11.6.1 you generally do or omit to do anything which may cause us to suffer any loss or

damage; or

11.6.2 we in any way know or suspect that:

11.6.2.1 your Account is being used fraudulently, negligently, for illegal or terrorist

activities, or for any purpose that does not comply with the law; or

11.6.2.2 you are involved in any illegal or terrorist activities,

in these circumstances we may, on notice to you, terminate our Agreement and call

for immediate Repayment of all amounts owing by you to us.

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11.7 If we close, restrict activity or suspend access to your Credit Limit, Reduced Credit

Limit, or your Account for any reason, we will not be legally responsible (liable),

directly or indirectly, for any damages arising as a result of such action that you or any

third party may suffer unless such damages are caused by our gross negligence or that

of any person acting for or controlled by us.

12 INFORMATION SHARING

12.1 By entering into this Agreement you acknowledge and agree that we may provide the

following information to any registered credit bureaux:

12.1.1 details provided by you in your application for credit and this Agreement; and/or

12.1.2 details of the conduct of your Account; and/or

12.1.3 details of any adverse information as defined in the NCA. In respect of such

adverse information, we will give you at least 20 (twenty) Business Days' notice of

our intention to provide the credit bureaux with this information; and/or

12.1.4 details of the transfer of our rights as a credit provider under this Agreement to

another person; and/or

12.1.5 any other details as may be required by the NCA or applicable law.

12.2 Based on their records, the credit bureaux may provide a credit profile and/or a credit

score on your creditworthiness to other credit providers.

12.3 You have the right to contact the credit bureaux to have your credit record with it

disclosed and to request the correction of inaccurate information. The name(s) and

contact details of the credit bureaux will be made available to you on request and shall

also be made available on our website.

12.4 We may provide details to the South African Fraud Prevention Services ("SAFPS") of any

conduct on your Account that gives us reasonable cause to suspect that the Account is

being used for improper purposes. The SAFPS may in turn make this information

available to other members of the SAFPS if they carry out credit or other checks on your

name.

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13 ADDRESSES FOR NOTICES

13.1 You choose, as the address for the serving of legal notices in terms of this Agreement

("notice address"), your address set out in Part A, to which these terms and conditions

are attached.

13.2 Any other notice or communication required or permitted to be given in respect of the

provisions of this Agreement will be valid and effective only if in writing and sent to your

notice address or the telefax number, email address or postal address provided in your

application for this Loan, or any address advised in terms of clause 13.3 below, provided

that the documents to be delivered in respect of legal proceedings in connection with

this Agreement may only be served at your notice address.

13.3 You must give us written notice to change your notice address, postal address, telefax

number or email address. The change will be effective on the 10th (tenth) Business Day

after receipt of the notice.

13.4 Any notice:

13.4.1 sent by prepaid registered post will be deemed to have been received on the 5th

(fifth) Business Day after posting; or

13.4.2 sent by ordinary mail will be deemed to have been received on the 7th (seventh)

Business Day after posting; or

13.4.3 delivered by hand will be deemed to have been received on the day of delivery; or

13.4.4 sent by telefax or email will be deemed to have been received on the 1st (first)

Business Day after the date it was sent.

13.5 Despite anything to the contrary set out in this clause 13, a written notice or

communication actually received by you will be an adequate written notice or

communication to you even though it was not sent to or delivered to your notice

address, postal address telefax number or email address.

13.6 Where the post office does not effect street deliveries at your notice address, we may

send any notices in terms of this Agreement to your post office box number.

14 CESSION BY THE BANK

14.1 To the maximum extent permitted by law, you hereby agree that we may, without

further notice to you, cede all or part of our rights and/or delegate all or any part of

our obligations under this Agreement, either absolutely or as collateral to any person,

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even though that cession and/or delegation may result in a splitting of claims against

you.

14.2 If this Agreement is sold or ceded, you acknowledge that the servicing and/or

administration of this Agreement may, to the maximum extent permitted by law:

14.2.1 be performed by us on behalf of the purchaser/cessionary; or

14.2.2 be contractually managed by a third party on behalf of the purchaser/cessionary;

or

14.2.3 be performed by the purchaser/cessionary itself.

These services and administrations can include the giving of notices, realisation of any

collateral and the recovery of amounts due under this Agreement.

14.3 If this Agreement, or any part thereof, is sold, ceded and/or delegated to any person

(“the purchaser/cessionary), you acknowledge that:

14.3.1 we may elect not to cede or sell our rights under any collateral given directly or

indirectly in respect of your obligations under this Agreement (“Relevant

Collateral”) to the purchaser/cessionary.

14.3.2 notwithstanding the sale, cession and/or delegation of this Agreement, or any

part thereof, to the purchaser/cessionary, the relevant collateral, or any part

thereof as the case may be, will continue to cover your indebtedness to us, our

successors in title or assigns under the Relevant Collateral, on the terms set out in

the Relevant Collateral, or any part thereof as the case may be.

14.4 Unless the context indicates otherwise, any reference to us in this Agreement will be

deemed to include our cessionary, successor in title or agent.

15 GENERAL

15.1 If your due date for any Repayment or the charging of interest, costs, fees or charges

does not fall on a Business Day, the item(s) will be processed:

15.1.1 on the 1st (first) Business Day after that day; or

15.1.2 in respect of the Personal Loan Product on the 1st (first) Business Day prior to that

day.

15.2 You must ensure that you, at all times, comply with legislation and other laws applicable

to this Agreement.

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15.3 Unless specifically stated and agreed, any amendment to this Agreement will not create

a new Agreement.

15.4 Any translated version of this Agreement is translated from this English version, and will

be provided to you, upon request, for information purposes only. While the translated

version of the Agreement describes the rights and obligations contained in this

Agreement, please note that this English version of the Agreement signed by you

constitutes the legally binding Agreement between us. Therefore, any enforcement

procedures in respect of the Agreement will be based on this English version.

15.5 This Agreement will be governed by and interpreted in accordance with the laws of the

Republic of South Africa.

15.6 You consent in terms of section 45 of the Magistrate's Court Act 32 1944, for the

purposes of the Bank taking legal steps to enforce any of its rights in terms of this

Agreement, to the jurisdiction of any Magistrate's Court having jurisdiction in the area in

which you reside or work, despite the amount involved. You do not consent to the

jurisdiction of the High Court if the Magistrate's Court has concurrent jurisdiction.

15.7 To the maximum extent permitted by law, any special consideration we may give you

will not be seen as a waiver of any of our rights under this Agreement or in any way

affect any of our rights against you.

15.8 A certificate signed by any of our managers, whose appointment need not be proved,

specifying the amount which you owe to us and stating that such amount is due, owing

and payable by you to us, will on its mere production be sufficient proof of any amount

due and/or owing by you in terms of this Agreement, unless the contrary is proved.

15.9 You may not transfer your rights or delegate your obligations under this Agreement

unless you have obtained our written consent.

15.10 You may apply to a debt counsellor to be declared over-indebted. Should the debt

counsellor determine that you are over-indebted, they may issue a proposal to the

Magistrate's Court recommending that it declares one or more of your agreements to be

reckless or that your obligations be rearranged.

15.11 You have the right to:

15.11.1 resolve a complaint by referring the matter to a dispute resolution agent, the

consumer court or the ombud with jurisdiction; and/or

15.11.2 in respect of any alleged contravention of the CPA or NCA, file a complaint with

the:

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15.11.2.1 the National Consumer Commission in respect of the CPA; or

15.11.2.2 National Credit Regulator in respect of the NCA;

15.11.3 make an application to the National Consumer Tribunal for:

15.11.3.1 an order resolving a dispute over information held by a credit bureau;

and/or

15.11.3.2 an order compelling the delivery of a Statement; and/or

15.11.3.3 review of a Statement; and/or

15.11.3.4 permission to bring a complaint directly before the tribunal; and/or

15.11.3.5 an order allowing late filing.

15.12 The contact details of the above bodies and institutions are available at your request

and shall also be available on our website.

15.13 We may terminate this Agreement before the expiry of the Agreed Term in accordance

with the provisions of the NCA. We may suspend your Loan Account at any time you are

in default under this Agreement or we may close the Loan Account on not less than 10

(ten) Business Days prior written notice of the intended closure to you.

15.14 Each term of this Agreement is separate from the other. If any term is found to be

defective or unenforceable for any reason by any competent court, then the remaining

terms will be of and continue with full force and effect.

15.15 If any of the clauses in this Agreement are found to be invalid, illegal or unenforceable

this will not affect the remaining clauses in the Agreement.

15.16 This Agreement constitutes the entire Agreement between the Parties.

15.17 You should contact us at our contact telephone number in Part A, to which these terms

and conditions are attached, if you need further explanation of anything related to, or

referred to in this Agreement.

15.18 The contact details of the Credit Bureau, National Credit Regulator, National Consumer

Tribunal and Banking Ombud are available on request and shall also be available on our

website.

15.19 To the extent that this Agreement, or the goods or services which are the subject of this

Agreement, are governed by or subject to the CPA, no provision of this Agreement is

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intended to contravene the applicable provisions of the CPA. All provisions of this

Agreement will be deemed to be qualified to the extent required in order to ensure

compliance with the applicable provisions of the CPA and this Agreement must be

interpreted and applied accordingly.

15.20 Each term of this Agreement is separate from the other. If any term is found to be

defective or unenforceable for any reason by any competent court, then the remaining

terms will be of and continue with full force and effect i.e. all provisions of this

Agreement are, notwithstanding the manner in which they have been grouped together

or linked grammatically, severable from each other. Any provision of this Agreement

which is or becomes unenforceable whether due to voidness, invalidity, illegality,

unlawfulness or for any other reason, shall, only to the extent that it is so

unenforceable, be struck out (treated as pro non scripto) and the remaining provisions

of this Agreement shall remain of full force and effect. The Parties declare that it is their

intention that this Agreement would be executed without such unenforceable provision

if they were aware of such unenforceability at the time of execution hereof.

15.21 This Agreement constitutes the entire Agreement between the Parties in relation to the

subject matter thereof. Neither Party shall be bound by any express, tacit or implied

term, representation, warranty promise or the like not recorded herein. This Agreement

supersedes and replaces all prior commitments, undertakings or representations,

whether oral or written, between the Parties in respect of the subject matter hereof.

15.22 Save as provided for in clauses 5.4 and 5.5 above, any agreed changes to this

Agreement –

15.22.1 will be made in writing and signed by both you and us; or

15.22.2 if the changes are recorded telephonically, we will provide you with written

confirmation of the change.

We will deliver to you a document reflecting the agreed amendment, no later than 20

(twenty) Business Days after the date of the agreed change to this Agreement.