Terms & Conditions / Contract Agreement
Introduction
Mzansi loans hub is a registered credit provider in terms of the National Credit Act, registration number NCRCP19376
AGREEMENT AND CONSENT DECLARATION
I hereby give consent to process my personal information, in accordance with the provisions of the Protection of Personal Information Act, for all purposes related to the carrying out of this mandate. Such consent shall extend to the sharing of my/our personal information with your trusted advisors who you may approach for advice assistance during provision of your services to/ us.
WHEREAS IT IS AGREED THAT:
All parties agree that they will comply with Protection of Personal Information Act (POPI) regulations and process all the information and/ or personal information data in respect of the services being rendered in accordance with the said regulation and only for the purpose of providing the services set out in the agreement to provide services.
The company (also called the service provider), all the parties to this agreement, the service provider’s employees and the client’s employees and any subsequent party/ parties to this agreement acknowledge and confirm that:
One or more of the parties to this agreement, will possess and will continue to possess information that may be classified or maybe deemed as private, confidential or as personal information.
Such information may be deemed as the private, confidential or as personal information in so far as it relates to this agreement.
Such information may also be deemed as or considered as private, confidential or as personal information of any third person who may be directly or indirectly associated with this agreement.
Further it is acknowledged and agreed by all parties to this agreement, that such private, confidential or as personal information may have value and such information may or may not be in the public domain.
For purposes of rendering services on behalf of the client, the service provider and any party associated with this agreement and/ or any subsequent or prior agreement that may have been / will be entered into, irrevocably agree that “confidential information” shall also include inter alia and shall mean inter alia:
By Accepting a depicheck mandate it will mean you agree to all terms and conditions set out by Mzansi Loans Hub and this will serve as signature to agree on a loan offer & credit agreement.
(a) All information of any party which may or may not be marked “confidential,” “restricted,” “proprietary” or with a similar designation;
(b) Where applicable, any and all data and business information;
(c) where applicable the parties may have access to data and personal information regarding clients, employees, third parties and the like including personal information as defined in POPI regulation; and
(d) trade secrets, confidential knowledge, know-how, technical information, data or other proprietary information relating to the client/service provider or any third party associated with this agreement and (including, without limitation, all products information, technical know-how, software programs, computer processing systems and technique employed or used by either party to this agreement and/ or their affiliates).
I do hereby authorise the financial institution (Mzansi Loans Hub) to conduct credit and other backround checks on my profile in order to conduct a complete financial analysis of my affairs, for the purposes of providing me with credit related services.
LOAN AGREEMENT
The Borrower nominates the above address for purposes of mail of any nature, including legal notices and court
orders, to be sent.
If the above address of the Borrower changes, then the Borrower must notify the Lender of the new address in writing by hand or
registered mail to the address of the Lender within 10 business days from change.
1. Early Settlement: The Borrower may settle this agreement at any time in terms of section 125 of the National Credit Act, 34 of
2005 [Hereafter referred to as "the Act'] by paying the unpaid balance of the loan amount and unpaid interest charges and all other
fees and charges up to the date of Settlement.
2. Proposed Loan Agreement: This document serves as a proposed loan agreement and quotation and the Borrower has the right
to delay signing this agreement by 5 days, to consider the proposed loan agreement and if the Borrower elects to enter into this
agreement with the Lender, the agreement should be concluded at or below the interest rate and costs initially quoted. The Borrower
has the right to enter into this loan agreement at any stage prior to the lapse of the five (5) business day period.
3. Interest Rate: The interest rates for small and unsecured micro-loans are calculated in arrears on the outstanding capital at a
fixed rate as per Table A of Regulation 42 of the Act. A change to the interest rate of small micro-loans is preceded by a notice by the
Minister of Trade Industry in a Government Gazette and a change to the interest rate of unsecured loans is a factor of any change in
the repurchase rate from time to time by the South African Reserve Bank. Should a change of interest rate occur as contemplated
above that effect this agreement, the Borrower will be given (5) business days written notice of such change before the change is
implemented.
4. Settlement of Loan: The Borrower is hereby notified and agrees that this loan will be settled by making charges against the
bank account specified above in terms of section 124(2) of the Act. The details of the charges are set out in the conditions of this
loan which is part of this agreement:
5. Penalty Clause: In the event of default for whatever reason penalty interest and penalty service fee on repayments in arrears
will be charged at the same interest rate and service fee rate set for this agreement. All attorney's or registered debt collectors costs
will also be recovered from the Borrower on the attorney and client scale or on the official tariffs applicable to registered debt
collectors, as the case may be.
6. Lender's right to terminate agreement: The Lender reserves the right in terms of section 123 of the Act to terminate this
agreement with the Borrower if the Borrower defaults with any of the agreed repayments in terms of this agreement and proceed
with legal proceedings in terms of section 129(1)(b) and section 130(1) of the Act which may result in a Court of Law enforcing the
repayment of the Borrower's outstanding obligations in terms of this agreement and the court judgement recorded by credit bureau
available to other credit providers.
7. Document provided and available: A copy of this signed Loan agreement is provided to the Borrower free of charge. A copy
of the Act and Regulations is available to the Borrower to peruse the sections of the Act stated in this agreement and others on the
premises of the Lender.
8. Conditions, Rights and Obligations: The Borrower and Lender agree that their rights and obligations under this agreement
are limited to the conditions and clauses of this agreement as well as the conditions and requirements set in the Act.
9. Account Statements: The Lender will provide an account statement free of charge to the Borrower at the end of every third
month during the term of a loan agreement. Account statements during intermediate months will be provided on request at a cost of
R3.50 per page.
10. Administration Order: The Borrower declares that he / she is presently not under administration, has no intention of being
placed under administration and agrees that he / she will not attempt to be placed under administration prior to discussing his / her
financial situation with the Lender. The Borrower consents that in the event of being placed under administration on a date after the
approval of this loan, that all payments still due to the Lender after granting of the administration order ["Future Payments"] shall
fall within the ambit Section 74A(2) (e)(ii) of the Magistrates Court Act and therefore excluded in terms of Section 74C (2) of the
said Act and the Lender shall therefore be entitled to recover all moneys still outstanding of this loan by means of legal action.
11. Debt review/re-arrangement: The Borrower declares that at the signing of this agreement he/she has not applied for debt
review to a debt councilor in terms of section 86(1) of the Act or a competent court in terms of section 86(9) of the Act; and/or is
not under debt re-arrangement in terms of section 86(8)(a) or section 87(1)(b)(ii) of the Act.
12. Dispute Resolution: The Borrower agrees that in the event of any dispute or uncertainty he / she will discuss the matter with
the Lender as a first step to resolve the issue. If the matter is not resolved to his / her satisfaction, the Borrower will submit his / her issue in writing to the Lender and if the dispute is not resolved thereafter to be at liberty to take up the matter with the National
Credit Regulatory at toll share number 0860 627 627.
Telephone: 087 151 0074 / 066 062 4385 Email address: info@mzansilaonshub.co.za
[BRANCH :Randburg] NCR Reg No :NCRCP19376
By clicking acknowledged hereunder, all parties irrevocably agree to abide by the terms and conditions as set out in this agreement as well as you irrevocably agree and acknowledge that all information provided, whether personal or otherwise, may be used and processed by the service provider and such use may include placing such information in the public domain. Further it is specifically agreed that the service provider will use its best endeavors and take all reasonable precautions to ensure that any information provided, is used for the purposes it has been provided.
It is agreed that such information may be placed in the public domain and by signature hereunder, all parties acknowledge that they have read all the terms in this policy and that they understand and agree to be bound by the terms and conditions a set out in this agreement.
It is confirmed that by submitting information to the service provider, irrespective as to how such information is submitted, you consent to the collection, collation, processing, and storing of such information and the use and disclosure of such information in accordance with this policy.
SHOULD YOU NOT AGREE TO THE TERMS AND CONDITIONS AS SET OUT IN THIS AGREEMENT AND CONSENT DECLARATION YOU MUST NOTIFY THE SERVICE PROVIDER IMMIDIATELY FAILING WHICH IT WILL BE DEEMED THAT YOU ACCEPT AND AGREE TO THE TERMS AND CONDITIONS SET OUT ABOVE.