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[6 Oct 2014 | No Comment | ]
Commercial Credit Management Seminar – Durban 16th October 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 Durban on the  16th  October 2014 aimed at commercial creditors (businesses who supply …

Credit Law, Credit Management, Credit News, Credit Seminars, Featured »

[6 Aug 2014 | No Comment | ]
Commercial Credit Management Seminar – Cape Town 10th October 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  10th  October 2014 aimed at commercial …

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 …

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[30 Jul 2014 | No Comment | ]
Prescribed Rate of Interest to change and it’s not a variable rate

 
We previously pointed out that the Prescribed Rate of Interest was set to change after having remained unchanged at 15.5% per annum from 1 October 1993.
 
It has now been confirmed that the prescribed rate of interest will be reduced to 9% on the 1st August 2014 in terms of GOVT NOTICE NO R.554 of the 18 July 2014.
 
Furthermore, and as explained previously, the Prescribed Rate of Interest Act (55 of 1975) sets the maximum rate of interest that can be charged on mora interest (over-due payment) and which is also used in …