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[7 Mar 2016 | No Comment | ]
Prescribed Rate of Interest Act Changes Explained

The Prescribed Rate of Interest Act (Act 55 of 1975) sets the maximum rate of interest that can be charged on mora interest (over-due payment) and is also used in court orders relating to damages claims.
Mora interest applies where payment is due and the rate of interest has not been agreed between the parties. In order for a creditor to become entitled to such interest there has to be demand made for payment or a due date for payment. The creditor is then entitled to charge mora interest from such …

Credit Law, Credit News, Featured, Headline, National Credit Act »

[2 Feb 2015 | No Comment | ]
Proposed Guidelines for “Statutory in Duplum” Interest & Charges Cap

With consumer debtor’s under pressure the government seems to focusing on the interest that they are being charged. The Department of Trade and Industry has published a PROPOSED GUIDELINES FOR THE INTERPRETATION AND APPLICATION OF SECTION 103(5) OF THE NATIONAL CREDIT ACT 34 OF 2005 (GOVERNMENT GAZETTE No. 38419 , 30 JANUARY 2015). This as a result of “uncertainty in the credit industry regarding the implementation of Section 103(5) of the National Credit Act. The National Credit Regulator therefore publishes these proposed guidelines for information and comment by the public …

Credit Law, Credit Management, Credit News, Credit Risk, Headline, National Credit Act »

[4 Aug 2014 | No Comment | ]
Draft NCA Regulations and National Consumer Tribunal Rules Published

The Minister of Trade and Industry, Dr Rob Davies, has published the National Credit Regulations and regulations for the amendment of regulations dealing with functions and rules of the National Consumer Tribunal in Government Gazette No. 37882 of 1 August 2014. The draft regulations are a result of the National Credit Amendment Act, 2014 (Act No. 19 of 2014), which was signed into law by the President on 19 May 2014.
This notice, among other things, contains affordability assessment regulations that provide criteria credit providers must adhere to before credit can …

Credit Law, Credit Management, Credit News, Credit Seminars, Headline »

[14 Jan 2014 | No Comment | ]
Commercial Credit Management Seminar – Cape Town 9th May 2014

COVERING:
With the continuing effects of the economic downturn being felt by businesses, the importance of good credit management has been   magnified and all companies credit management policies need to be reviewed and upgraded in order to avoid your company becoming a statistic of the poor economy. In addition credit management is also being impacted by the new legislation such as the National Credit Act, the Consumer Protection Act and the new Companies Act.
This is a full day seminar in Cape Town on the  9th May 2014 aimed at commercial creditors …

Credit Law, Credit Management, Credit Seminars, Headline »

[26 Jun 2013 | No Comment | ]
Commercial Credit Management Seminar -Durban -16th August 2013

COVERING:
With the continuing effects of the economic downturn being felt by businesses, the importance of good credit management has been   magnified and all companies credit management policies need to be reviewed and upgraded in order to avoid your company becoming a statistic of the poor economy. In addition credit management is also being impacted by the new legislation such as the National Credit Act, the Consumer Protection Act and the new Companies Act.
This is a full day seminar in Durban on 16th of August 2013 aimed at commercial creditors …

Credit News, Headline »

[17 Mar 2010 | No Comment | ]
Recovery?

The big question being asked by those involved in the credit risk management industry and generally is are we out of those dreaded recession “woods”?
From purely a practical personal perception the answer would be no. The number of bad debt hand-overs decreased toward the end of last year only to bounce back in February and March of this year, particularly businesses being handed over.
However Moody’s being reported in Business Report has stated the opposite:
“South Africa’s economic recovery has “arrived with a bang”, says Kristin Lindow, a senior vice-president at international …