Terms and Conditions
In this agreement:
1. “the Company” means the company from which the goods were
purchased;
“the Customer” means the person or entity applying for an Account and any
person or entity that contracts with the Company for the purchase
of goods;
“the goods” means the goods indicated on any company forms, documents,
price lists, quotations, delivery notes,
orders and invoices.
This agreement is subject to the applicable provisions of the National Credit
Act, 2005 (“the Act”), the regulations hereunder and any successor act or
legislation to the extent applicable in relation to the Customer. In the case
of any conflict between the Act and this agreement, the provisions of the
Act shall prevail.
All provisions and the various clauses and sub-clauses of this agreement
are, notwithstanding the manner in which they have been grouped together
or linked grammatically, severable from each other. Any provision, clause
or subclause of this agreement which is or becomes unenforceable in any
jurisdiction, whether due to being voided, invalidity, illegality, unlawfulness
or for any other reason whatever, shall, in such jurisdiction only and only to
the extent that it is so unenforceable, be treated as pro non scripto and the
remaining provisions, clauses and sub-clauses 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.
2. Price
2.1. The price of the goods shall be the Company’s relevant price
current at the time of the dispatch of the goods, and does not
include transportation or delivery costs.
2.2. The Company notwithstanding 2.1 has the right, from time to time,
without notice to the Customer, to change the prices of its goods
prior to delivery.
2.3. The price is stated exclusive of VAT.
2.4. Company price lists shall be considered merely as a guide by the
Customer and the Company has the right, from time to time, or for
any reason and without notice to the Customer, to change the
prices of its goods without reflecting such changes on any price
lists.
3. Payment
3.1. Payment is to be made free of bank exchange or any other set off
or deduction, 30 (thirty) days from date of the Company’s
statement unless otherwise agreed in writing by the parties.
3.2. In all cases where the Customer uses a postal, banking, electronic
or similar such service to effect payment, such services shall be
deemed to be the agent of the Customer.
3.3. Subject to 4.1, should any amount not be paid by the Customer on
due date then the whole amount in respect of all purchases by the
Customer (“the principal sum”) may become due, owing and
payable at the Company’s discretion, irrespective of the date when
Page 7 of 14 Revised: 20 August 2019 Customer Initials _______
the goods were purchased and the Customer may be liable to pay
interest in respect of the overdue amounts at the maximum legal
interest rate permissible in terms of the Act, from due date until
date of payment, inclusive of the first day and exclusive of the last
day, calculated daily and compounded monthly in arrears if
unpaid, at the Company’s discretion. For the avoidance of doubt
but without double counting, it is recorded that should any interest
which has accrued not be paid in full on month end, the same may
be added to the principal sum, and the total will form the principal
debt (“the principal debt”) which shall then bear interest in the
manner as set out above.
3.4. The Customer shall not be entitled to claim set off or deduction of
any amounts due by the Company to the Customer from any
cause arising against any payment due by the Customer to the
Company for goods or services supplied or any other cause
arising.
3.5. The Company may appropriate all payments made by the
Customer to such accounts as it will in its sole and absolute
discretion decide unless the Act applies in which case the
Company must credit each payment made by the Customer firstly,
to satisfy any due or unpaid interest charge, secondly, to satisfy
any due or unpaid fees or charges and lastly, to reduce the amount
of the principal sum owing.
3.6. The Company shall have the right to suspend deliveries and to
exercise its rights in terms of clause 10.1 if any amount due by
Customer is unpaid.
3.7. Acceptance of a negotiable instrument by the Company shall not
be deemed to be a waiver of the Company’s rights under this
agreement. In relation to cheques furnished by the Customer to
the Company, the Customer waives its right to insist on notice of
dishonour or protest being given to it in the event the cheque is
dishonoured.
4. Accounts
4.1. The Company may close or withdraw an Account at any time on
at least 10 business days written notice and the nature and extent
of an Account shall at all times be in the Company’s sole
discretion. Any increases in the amounts charged to an Account
shall be affected subject to the Act, to the extent applicable.
4.2. To the extent that the Act is applicable to this agreement, within 5
(five) business days of written request by the Customer, the
Company shall deliver without charge to the Customer a statement
of the amount required to settle all amounts owing under this
Agreement, as calculated in accordance with clause 4.3 below, as
at the date specified in the said request.
4.3. The statement may be delivered in terms of clause 17 below.
4.4. The statement is binding for a period of 5 (five) business days after
delivery provided that the statement is not binding to the extent of
any credits or charges to the Account after the date on which the
statement was prepared.
4.5. To the extent that the Act is applicable to this agreement, the
Customer may terminate this agreement at any time by paying the
unpaid balance of the principal sum or principal debt outstanding,
the unpaid interest charges and all other fees and charges payable
by the Customer to the Company up to the settlement date. In the
event that the Customer breaches any of its obligations in terms
of this agreement, the Company shall immediately suspend the
Account or terminate the Account by giving the Customer 10 (ten)
business days’ notice of such termination.
4.6. The Account limit shall, save as required for purposes of the Act
(as applicable), not be deemed to be the limit of the Customer’s
indebtedness to the Company.
5. Orders
5.1. Orders by the Customer for the Company’s goods shall be made
in writing to such address, electronic or otherwise, as may be
nominated by the Company from time to time.
5.2. Oral orders shall similarly be capable of acceptance by the
Company, but the Company will not be responsible for any errors
or misunderstandings occasioned by the Customer’s failure to
make orders in writing.
5.3. Orders shall constitute irrevocable offers to purchase the goods in
question and shall be capable of acceptance by the Company by
the delivery of the goods or by written acceptance or confirmation
of the order.
5.4. The Customer shall provide the Company with a valid order
number and a delivery address, unless the delivery address is the
Customer’s principal address indicated on the first page of this
agreement, when placing any order with the Company.
5.5. The Company is not obliged to accept any orders and, at the
discretion of the Company, all orders will be processed in
accordance with its normal business practice, in terms of which
acceptance by the Company of any order will be subject to
authorization by the Company’s Credit Manager.
6. Delivery
6.1. Unless the Company and the Customer agree otherwise, (which
agreement remains subject to the provisions of clauses 6.3 to
6.13), delivery of the goods shall be from the Company’s factory
or store.
6.2. If the Company pays carriage forward on the Customer’s specific
instruction or special request, this shall not in any way prejudice
the Company or be interpreted as appointing the hauler as agent
of the Company, or as varying or waiving any of these Conditions
of Sale.
6.3. If the Company should choose to deliver the goods to the
Customer by road transport, the Customer must arrange off-
loading of the goods at own sole risk. The risk in the goods shall
pass to the Customer at the time of off-loading.
6.4. Any assistance that employees of the Company or employees of
agents of the Company may render with off-loading shall be at the
sole risk of the Customer, who shall be responsible for any and all
damage of whatever nature caused as a result of such assistance.
6.5. If the Customer should choose to collect the goods from the
Company’s premises using its own or its agent’s transport, such
collection shall be entirely at the Customer’s risk, and the
Customer shall be responsible for all damage of whatsoever
nature caused as a result of or during such collection or thereafter.
The risk in the goods will pass to the Customer after the Company
has placed them on rail or truck.
6.6. The Company shall be responsible for loading the goods onto the
Customer’s transport. The risk in the goods shall pass to the
Customer on completion of the loading onto its transport.
6.7. The Company shall try to deliver the goods on the dates that the
Customer specifies, but shall not in any way be liable for any
damages that the Customer may suffer as a result of the failure by
the Company or its agent to deliver the goods in time. The
Customer shall not be entitled to cancel any order by reason of
such delay and the Company’s right to recover all monies owing
to it shall not be affected by failure to effect timeous delivery.
6.8. In the event that the Company makes delivery to the Customer in
instalments, each instalment shall be deemed to be the subject of
a separate contract and non-delivery or delay in delivery of any
instalment shall not affect the balance of the contract or entitle the
Customer to cancel the contract.
6.9. When goods are delivered in instalments, invoices relating to
separate deliveries shall be paid 30 days from date of statement
(unless otherwise agreed) and no payment shall be postponed
until such time as all the goods ordered have been delivered. To
the extent that the Act is applicable to this agreement, prepayment
of statement amounts shall be permitted without penalty and if the
Customer is in arrears on its account, then 20 business days
thereafter a statement of account shall be issued to the Customer,
and thereafter not less frequently than every 2 months, unless no
debit or credit entry was made on the account for that statement
period.
Page 8 of 14 Revised: 20 August 2019 Customer Initials _______
6.10. To the extent that the Act is applicable to this agreement, the
Customer may dispute all or part of any particular credit or debit
entered on an Account under this Agreement or reflected in a
statement by delivering a written notice to the Company
whereupon the Company shall give the Customer a written notice
either –
6.10.1. explaining the entry in reasonable detail; or
6.10.2. confirming that the statement was in error
either in whole or in part, and setting out the revised entry, and
shall not begin enforcement proceedings hereunder based on a
default arising from the disputer entry –
(a) until the Company has explained and confirmed as set out above;
or
(b) if at any time that the matter is under alternative dispute resolution
procedures, or before the Tribunal in terms of section 115 of the
Act.
6.11. If the Customer fails to take delivery of the goods ordered, or in
any way delays the delivery of the goods ordered, then the risk in
the goods shall immediately pass to the Customer and the
Customer shall be liable to pay the Company the reasonable costs
of storing, insuring and handling the goods, until delivery takes
place upon demand.
6.12. In spite of anything to the contrary that the Agreement may
contain, ownership of the Goods shall remain vested in the
Company until it has received full payment for the Goods.
6.13. It may not be possible for the Company to supply the Customer
with the exact quantity of Goods ordered, and the Company shall
then be deemed to have fulfilled its obligations in terms of the Sale.
7. Errors, Shortages and Returns
7.1. All goods are guaranteed full mass as stated on containers and
tankers on delivery and the Company shall not be liable for any
loss of quality, mass or volume of goods by drying, evaporation or
fault of the carrier of the Company, or the nominated carrier.
7.2. The Company shall not be liable for goods lost or damaged as a
result of containers, whether returnable or not, becoming
damaged after delivery.
7.3. Unless the Customer notifies the Company in writing within 24
(twenty four) hours of delivery of the goods that such goods are
defective, short delivered, not in accordance with the order,
damaged or that any other discrepancy exists in regard thereto,
the Company shall not be liable for any of the aforesaid
discrepancies; provided that such notification shall have no other
probative value.
7.4. Subject to clause 9.3 any goods delivered by the Company to the
Customer in error shall only be considered for credit by the
Company if they are:
7.4.1. Returned undamaged by the Customer within 5 (five) days of
delivery thereof, and
7.4.2. In their original packaging and have not been unpacked or used in
part, and
7.4.3. Not defaced by price labels or other markings. The relevant invoice
or delivery note must be quoted in respect of any goods returned
by the Customer to the Company for credit.
8. Ownership & Risk
8.1. Notwithstanding that all risk in and to all goods sold by the
Company to the Customer shall pass on delivery, ownership in all
goods sold and delivered shall remain vested in the Company until
the full purchase price has been paid and in the event of a breach
of these terms and conditions by the Customer or if the Customer
is sequestrated or placed under liquidation or judicial management
or commits any act of insolvency or enters into any compromise
with its creditors or fails to satisfy a judgement granted against it
within 7 days of the date of judgement or changes the structure of
its ownership, the Company shall, without prejudice to any further
rights vested in it, be entitled to take possession of the goods.
8.2. Goods in the possession of the Customer bearing the Company
name, trademarks and labels shall be deemed to be those for
which payment has not yet been made and should any breach of
these terms occur, may be repossessed by the Company in terms
of para 8.1.
8.3. The Customer shall fully insure the goods purchased from the
Company against loss or damage (to a maximum amount equal to
the Customer’s outstanding obligations in terms of this agreement,
to the extent that the Act is applicable to this agreement), until the
full purchase price has been paid by the Customer for such goods.
Pending payment to the Company for goods purchased, all
benefits in terms of the insurance policy selected by the Customer
relating to the insurance of such goods are ceded to the Company.
8.4. The Customer shall inform the Landlord of the premises and/or all
material creditors of the Customer at which the goods are kept that
such goods are the sole and absolute property of the Company
until such time as the full purchase price has been paid to the
Company by the Customer.
8.5. The Customer shall at all times advise the Company in writing of
the address of the premises where the goods are ordinarily kept if
same is different to the Customer’s principal address reflected on
the first page of this agreement.
9. Returnable Containers and Pallets
9.1. The Company has the right to package and deliver goods in
returnable containers and/or pallets.
9.2. All returnable containers supplied by the Company, together with
any product, shall be charged for at the Company’s ruling or usual
price at the date of the Contract, and cost thereof shall be listed
separately on the relevant Company documentation.
9.3. Returnable containers and pallets are payable at the same time as
the goods packaged in the containers and pallets are paid for.
9.4. The return of pallets or a portion thereof, depending on the
condition in which the pallets are returned to the Company, shall
be refunded to the Customer by the Company after the pallets
have been delivered to the Company, and the Customer may not
deduct the deposit paid in respect of pallets from any amounts
owing to the Company.
9.5. In order to ensure continuity of supply of certain goods which are
packed in returnable containers the Company undertakes to
refund the price charged for the returnable container, subject to a
discretionary handling fee (unless the Act is applicable to this
agreement), to the Customer provided that:
9.5.1. The returnable containers have not been used by the Customer in
respect of any other products or materials other than those
delivered to the Customer in the said container; and
9.5.2. Although the Company will endeavor to arrange for the collection
of the returnable containers, the onus is on the Customer to return
such containers, at its cost, in good and usable condition, without
undue delay and in any event by not later than 4 (four) months
after the delivery thereof to the factory or store from which they
were dispatched to the Customer, or
9.5.3. If the Company has undertaken to collect such returnable
containers, such containers shall be loaded by the Customer or its
employees on the Company’s vehicles at the sole risk of the
Customer who shall be responsible for damage of whatsoever
nature caused as a result of, or during such loading operations. If
the Customer requires the loading of the containers to be effected
by the Company’s employees or requires assistance from the
Company’s employees in loading the containers then such loading
shall be at the sole risk of the Customer who shall be responsible
for all damage of whatsoever nature caused as a result of or during
such loading.
10. Legal Proceedings
10.1. Regardless of the place of execution or performance under these
terms and conditions or domicile of the Customer, these terms and
conditions and all modifications and amendments hereof, shall be
governed by and decided upon and construed under and in
accordance with the laws of the Republic of South Africa.
10.2. The Company shall, at its option and notwithstanding that the
amount of its claim or the nature of the relief sought by it exceeds
Page 9 of 14 Revised: 20 August 2019 Customer Initials _______
the jurisdiction of the Magistrate’s Court, be entitled to institute
action out of such court.
10.3. To the extent that the Act is applicable to this agreement, any
action shall only be instituted –
10.3.1. once the Company has given the Customer a written notice
proposing that the Customer refer the default to a debt counsellor,
alternative dispute resolution agent or appropriate Consumer
court, with the intent that the parties resolve the dispute or develop
and agree on a plan to bring the payments under this agreement
up to date; and
10.3.2. if the Customer has been in default for at least 20 business days
and at least 10 business days, running concurrently, have elapsed
since the Company delivered the notice referred to in clause
12.3.1 above to the Customer, and the Customer has not
responded or has rejected the Company’s proposals as set out in
the said notice, in which case the Company may take such legal
steps as are necessary to enforce this agreement.
10.4. A certificate issued and signed by any director or manager of the
Company, whose authority need not be proved, in respect of any
indebtedness of the Customer to the Company, delivery of the
goods or in respect of any other fact, shall constitute prima facie
evidence of the Customer’s indebtedness to the Company and
prima facie evidence of the delivery of the goods and prima facie
evidence of such other fact.
10.5. The Customer’s principal address as given on the first page of this
document, shall be recognized as the Customer’s domicilium
citandi et executandi (domicilium) for all purposes in terms of this
agreement, whether in respect of the serving of any court process,
notices, the payment of any amount or communications of
whatever nature.
10.6. The Customer shall pay all legal costs, including attorney and own
client costs, counsel’s fees, tracing agent’s fees and collection
charges which the Company may incur in taking any steps
pursuant to any breach of these conditions by the Customer.
11. Arbitration
11.1. The Company may refer any dispute arising from or in connection
with this agreement to arbitration, which arbitration shall bind both
Company and Customer. To the extent that the Act is applicable
to this agreement, the Customer may refer any dispute to a
Consumer court, for resolution in accordance with the Act and the
provincial legislation establishing that Customer court or an
alternative dispute resolution agent, for resolution by conciliation,
mediation or arbitration. The Customer may also file a complaint
with the National Credit Regulator. The National Credit Regulator’s
details are:
(tel) (011) 647 4400, or 0860 627 627, (fax) (011) 484 6122,
(email) info@NCR.org.za, (address) 11 Parklane Avenue,
Parktown, JOHANNESBURG, and at PO Box 2694, Houghton,
2041.
11.2. The arbitrator must be a person agreed upon by the parties or,
failing such agreement within 5 (five) days of a dispute being
declared, an arbitrator must be appointed by the Arbitration
Foundation of Southern Africa, who shall then finally resolve the
dispute in accordance with the Rules of the Arbitration Foundation
of SA.
12. Returned Goods
12.1. Goods sold by the Company are not returnable save at the
absolute discretion of the Company. Should the Company elect to
accept the return of any goods, the following will apply –
12.1.1. All goods returned must be complete, clean, saleable and
undamaged and, where applicable, in their original packaging;
12.1.2. The value of the credit for goods returned will be calculated at the
invoice value when the goods were purchased, less a 10%
handling charge, unless the Act is applicable to this agreement.
12.1.3. The Credit Control Department must be notified of the relevant
invoice and delivery note before any claim will be considered.
12.1.4. All goods are to be returned at the Customer’s expense within 15
days after delivery thereof and the risk in the goods remains with
the Customer until the Company receives the goods.
13. Disclaimer
The Company shall not be liable for any loss of profit or any loss
or damage, direct or indirect, consequential or otherwise,
sustained by the Customer arising out of any defect whatsoever,
latent or patent in the Products.
14. Warranties and Indemnity
14.1. Unless specifically stated otherwise, all goods supplied will be to
the Company’s stated specifications.
14.2. Save for the warranties contained herein, the Company gives no
warranties with regard to the goods and specifically excludes the
warranty that the goods purchased by the Company will be
suitable for the purpose for which they are intended.
14.3. The Company disclaims all liability to the Customer in connection
with the Company’s performance or the Customer’s use of the
goods supplied and in no event will the Company be liable to the
Customer for delictual, special, indirect or consequential damages
including but not limited to, loss of profits.
14.4. The Company will not incur any liability of whatsoever nature to
the Customer or any third party for the accuracy and/or efficiency
of the designs or specifications of the goods, either in respect of
new or repeat orders placed by the Customer.
14.5. The Customer indemnifies the Company for any claims of third
parties, arising out of the supply of the goods by the Customer to
the third party from any cause whatsoever and however arising.
15. General
15.1. This agreement represents the entire agreement between the
Company and the Customer and shall govern all future contractual
relationships between the Company and the Customer and shall
also be applicable to all debts that the Customer may owe to the
Company prior to the Customer’s signature hereto.
15.2. The provisions of this agreement shall take precedence over any
other terms or conditions that may be contained in any of the
Customer’s documentation.
15.3. No amendment and/or alteration and/or variation and/or
deletion and/or addition and/or cancellation of these terms
and conditions, whether consensual or unilateral or bilateral
shall be of any force and effect unless reduced to writing and
signed by a director of the Company (and the Customer if the
Act applies). No agreement, whether consensual or unilateral
or bilateral purporting to obligate the Company (and the
Customer if the Act applies) to sign a written agreement to
amend alter, vary, delete, add or cancel these terms and
conditions shall be of any force and effect unless reduced to
writing and signed by a director of the Company (and the
Customer if the Act applies). To the extent that the Act applies
to this agreement, if the parties effect an amendment to any
term or provision of this Agreement, the Company shall, not
later than 20 (twenty) business days after the date of this
Agreement, deliver to the Customer a copy of the amended
agreement, either in paper or printable electronic form, at no
charge.
15.4. No relaxation or indulgence which the Company may give at any
time in regard to the carrying out of the Customer’s obligations in
terms of this agreement or any contract shall prejudice or be
deemed to be a waiver of any of the Company’s rights in terms of
this agreement or the relevant contract.
15.5. The Customer shall not cede its rights nor assign its obligations.
15.6. The Company shall at any time in its sole discretion be entitled to
cede all or any of its rights and /or assign all of its obligations in
terms of this agreement, including all terms and conditions to any
third party, without prior notice to the Customer.
15.7. Any written notice to the Company shall be addressed to The
Managing Director.
Page 10 of 14 Revised: 20 August 2019 Customer Initials _______
15.8. The Customer undertakes to notify the Company within a period
of seven days of any change of address or any changes in the
information as set out in this agreement.
15.9. The headings in this document are included for convenience and
are not to be taken into account for the purpose of interpreting this
agreement.
15.10. Each of the terms herein, shall be a separate and divisible term
and if any such term becomes unenforceable for any reason
whatsoever, then that term shall be severable and shall not affect
the validity of the other terms.
16. Disclosure of Personal Information
16.1. The Customer understands that the personal information given in
this agreement is to be used by the Company for the purposes of
assessing its creditworthiness. The Customer confirms that the
information given by it in this credit application form is accurate
and complete. The Customer further agrees to update the
information supplied, as and when necessary in order to ensure
the accuracy of the above information, failing which the Company
will not be liable for any inaccuracies.
16.2. To the extent that the Act applies to this agreement, the Company
shall give the Customer 20 business days’ notice before any
adverse information concerning the Customer is reported to a
credit bureau and shall provide a copy of that information to the
Customer upon request. The Customer hereby authorises the
Company at all times to contact and request information from any
persons, credit bureau or businesses, including those mentioned
in the credit application form, or any statutory credit bodies and
obtain any information relevant to the Customer’s credit
assessment, including but not limited to, information regarding the
amount purchased from suppliers per month, length of time the
Customer has dealt with such supplier, type of goods and services
purchased and manner and time of payment.
16.3. To the extent that the Act applies to this agreement, if a Customer
has challenged the accuracy of any information reported on it
(“challenged information”), the Company shall take reasonable
steps to seek evidence in support of the challenged information
(“credible evidence”), and within any prescribed time after the filing
of the challenge shall –
16.3.1. provide a copy of any such credible evidence to the Customer, or
16.3.2. remove the information, and all record of it, from its files, if it is
unable to find credible evidence in support of the information,
unless relief is afforded in terms of a ruling of the National
Customer Tribunal established by section 26 of the Act, on
application by the Company.
16.4. The Customer agrees and understands that information given in
confidence to the Company by a third party on the Customer will
not be disclosed to the Customer, save in the event that the
Company receives an adverse credit report from a credit bureau
and is requested by the Customer to disclose the source of the
said report.
16.5. The Customer hereby consents to and authorizes the Company at
all times to furnish credit information concerning the Customer’s
dealings with the Company to a credit bureau and to any third party
seeking a trade reference regarding the Customer in its dealings
with the Company, including but not limited to, information
regarding the amount purchased by the Customer per month, the
length of time the Customer has dealt with the Company, the type
of goods and services purchased and the manner and time of
payment.
16.6. The Customer has the right to contact the credit bureau, have its
credit records disclosed and correct inaccurate information.
17. Statements
17.1. To the extent that the Act applies to this agreement, at the request
of the Customer, the Company shall deliver without charge to the
Customer a statement of all or any of the
following –
17.1.1. the current balance of the Customer’s account;
17.1.2. any amounts credited or debited during a period specified in the
request;
17.1.3. any amounts currently overdue and when each such amount
became due; and
17.1.4. any amount currently payable and the date it became due.
17.2. A statement requested in terms of 15.7 above shall be delivered –
17.2.1. within 10 business days, if all the requested information relates to
a period of one year or less before the request was made; or
17.2.2. within 20 business days, if any of the requested information relates
to a period of more than one year before the request was made.
17.3. A statement under the above clause may be delivered orally, in
person or by telephone; or in writing, either to the Customer in
person or by SMS, mail, fax, email or other electronic form of
communication, to the extent that the Company is equipped to
offer such facilities, as directed by the Customer when making the
request.
17.4. The Company is not required to provide –
17.4.1. a further written statement under this section if it has, within the
three months prior to when the request is made, given such a
statement to the Customer; or
17.4.2. information in a statement more than three years after the account
was closed.
17.5. To the extent that the Act applies to this agreement, within 5 (five)
business days of written request by the Customer, the Company
shall deliver without charge to the Customer a statement of the
amount required to settle all amounts owing under this Agreement,
as at the date specified in the said request, which statement is
binding for a period of 5 (five) business days after delivery.
18. Confidentiality
To the extent that the Act applies to this agreement, all information
received, compiled, retained or reported and pertaining to the
Customer shall be kept confidential by the Company and the
Company shall –
18.1. use that information only for a purpose permitted or required in
terms of the Act, other national legislation or applicable provincial
legislation; and
18.2. report or release that information only to the Customer or to
another person –
18.2.1. to the extent permitted or required by the Act, other national
legislation or applicable provincial legislation; or
18.2.2. as directed by the instructions of the Customer, or an order of a
court or the National Customer Tribunal established by section 26
of the Act.
18.3. To the extent that the Act applies to this agreement, the Customer
may by written notice to the Company at any time after interest
has been charged in terms of 3.3 above –
18.3.1. require the Company to reduce the Account limit under this
Agreement; and
18.3.2. stipulate a maximum Account limit that the Customer is prepared
to accept.
18.4. After receiving the said notice, the Company shall give the
Customer written confirmation of –
18.4.1. the new Account limit, which shall not exceed the maximum limit
stipulated by the Customer, if any; and
18.4.2. the date on which the new Account limit is to take effect, which
may not be more than 30 (thirty) business days after the date of
the notice from the Customer.