Fintech is on the fast track but so is cybercrime
Bitcoin is now worth more than gold, and internet banking and mobile money usage globally has rocketed by 34% in the past six years. One...
Tag: National Credit Act (NCA)
New credit provider registration threshold set at nil as from 11 November 2016
Under the National Credit Act, credit providers that have a total principal debt owed to them exceeding R 500 000.00, under all outstanding credit agreements...
Hands off my salary!
The credit industry in South Africa is significant and lucrative. According to the National Credit Regulator’s Consumer Credit Market Report for the first quarter of...
Defaulting on loan agreement instalments: When does a creditor’s claim prescribe?
Acceleration clauses are commonly found in loan agreements that require debtors to make repayment in instalments. A standard acceleration clause provides that if a debtor...
Credit providers beware – Reinstatement of credit agreement despite acceleration
An agreement constitutes a credit agreement if, as pronounced in the National Credit Act 34 of 2005 (“the NCA”), it provides for a credit facility, a credit transaction (such as, among others, a mortgage agreement or an instalment agreement), a credit guarantee,…
Provided By Eversheds Sutherland
Is your sale of land in instalments subject to the National Credit Act?
The confusing definition of “instalment sale agreements” in the Act
In terms of the National Credit Act (“the Act”), an instalment agreement is defined as a...
A class of emolument attachment orders declared unconstitutional
In a judgment delivered on 8 July 2015 in the case of The University of Stellenbosch and 15 Others v The Minister of Justice and...
