What is commonly referred to in credit management, as an acceleration clause is a clause in which a creditor granting a debtor the right to repay a debt in instalments agrees the right to proceed for the full debt in the event of the debtor defaulting in the payment of any instalment.
For example, a creditor has payment terms of 30 days and a debtor defaults on his payment terms. The creditor contacts the debtor who, for whatever reason, negotiates an extension of payments terms to pay the debt that was …

I have just received my month advanced notice of what will appear in next month’s South African Law Reports from Juta, the legal publishers.
On the credit management front there seems to be oen case with direct interest reported. The headnotes of the revelent case is as follows:
J & K TIMBERS (PTY) LTD t/a TEGS TIMBERS v G L & S FURNITURE ENTERPRISES CC
NATAL PROVINCIAL DIVISION
KOEN AJ
2004 September 6, 16 Case No 103/03
Close corporation—Members—Power of to bind corporation—Close Corporations Act 69 of 1984, s 54—Every member of corporation agent of corporation …

In the 21st March 2005 issue of Fortune Magazine they ran an enlightening article entitled the “The Best Advice I Ever Got“. The Article asked the business giants of the world such as Warren Buffett, Richard Branson, Peter Drucker, Jack Welch and many others what was the best advice they ever got was and the answers certainly make for a good insight into the business minds of these greats.
The one that particularly struck me was the chairman of the US based Coffee giant Starbucks, Howard Shultz, who stated his advice …

Kerry Gleesen: The author of The Personal Efficiency Program

In terms of personal management or management in general very little is formally taught in the area of the nuts and bolts of getting things done or as some call it time management. Managers and their employees are victims of procrastination and bad organisation. We learn a lot of these getting things done or not getting things done methods, as the case maybe, from those around us and sometimes they are not the best examples. We all know the pitfalls of a messy desk and poor filing system. We end …

There were reports in the weekend newspapers and on today of a Supreme Court of Appeal decision in the case between African Bank and certain debt administrators.
I have not been able to get hold of a full copy of the court’s judgment but the gist of the judgment from the Moneyweb report appears to be “that debt administrators are limited to 12.5% for their services. This was after the judge of appeal, Cameron, ruled against the 22.5% fee that almost all attorney debt administrators charge for acting as administrators collecting …