PART A                                                     

THE PARTIES

Company Details                                                                      and            Customer’s Details (“Member”)

NAME: Smart Construction, a division of Visionaire Group (Pty) Ltd                     NAME:

COMPANY REGISTRATION NUMBER: 2015/312689/07                                     ID/REGISTRATION NO:

VAT REGISTRATION NUMBER: 4660283427                                                          TELEPHONE NUMBER:

NCR REGISTRATION NUMBER: NCRCP13323                                   PHYSICAL ADDRESS:

NHBRC REGISTRATION NUMBER: 3000210214                                                                                             

PHYSICAL ADDRESS: 9136 BLOCK A                                                                                                                  

                                     PORTION 9, HAMMANSKRAAL                                                                                      

                                     0400

TELEPHONE NUMBER: 079 224 7149

MEMBERSHIP SUMMARY

1.        Non-refundable Membership Fee (inclusive of VAT)                                                                           : R

2.        Service Fee (inclusive of VAT)                                                                                                               : R           

2.1 The monthly Service Fee will form part of your Premium amount and will be debited to your

Account monthly.

2.2 The total monthly Service Fee over the Agreed Term is calculated on the assumption that there

are no amendments to the Service Fee over the Agreed Term.

2.3 The Service Fee is subject to review and any amendment will result in a corresponding change to

the “Total cost of your premiums” in this Part A.

3.        Minimum Chosen <Monthly Subscription> Premium                                                                          : R

3.1 Premium fee is subject to:

3.1.1 The assumptions reflected in this Part A;

3.1.2 No increase in the Service Fee reflected in clause 2 of this Part A.

3.2 Your first Premium will be due on the _____________________, and will continue for the Agreed Term and while any amounts are owed to us.

3.3 Premiums are to be made by way of a MONTHLY Payment Authorisation. If the Current Account from which the Payments are to be made is closed, for any reason, you will need to immediately make other suitable arrangements with us for the payment of the amounts due in terms of this Agreement.

4.        Agreed Term is subjected to and determined by one of the following:

4.1      Firstly, a member is regarded a member under term for as long as he still continues to pay his Monthly Subscription Premiums;

4.2      Secondly, a member is regarded to still be a member for as long as there are still monies owed to the Company by the member.

4.3      Thirdly, as long as there are still member subscription premium contributions in our Fund Account and he has not claimed or drawn it.

5.        Suspensive Conditions

5.1 The following conditions must be complied with, in a form and substance acceptable to us:

5.1.1 You must accept this Agreement by signing the “Acceptance” below; and

5.1.2 A R________ upfront Non-refundable Membership Fee payment is required and it must be paid to Smart Construction as an initial membership payment.

5.1.3 You must give us the following outstanding documents:

5.1.4 You must provide us with your Payment Authorisation;

5.1.5 You must provide us with 3 (three) months’ payslips or your latest bank statements showing your latest 3 (three) salary deposits or your latest 3 (three) months documented proof of income.

6.        The Agreed Term reflected in this Part A is subject to change and any prescribed legal maximum interest rate, fees or charges may change from time to time in accordance with the provisions of this Agreement.

7.        Special Conditions

Due to the nature of your membership with us that grants you access to borrow money from the investment fund. The following terms and conditions shall apply to your membership.

7.1      A member can only borrow for as long as the Fund has sufficient funds available to lend to its member partners in its account.

7.2      To be eligible to borrow from the Fund, a member must first be a contributing member with an active status for at least 6(six) consecutive months following acceptance of your membership application.

7.3      Lending is provided on a first come first serve basis. Those that lodge successful applications first after their 6(six) consecutive subscription months following acceptance of their membership application will be given first preference and are the ones who will be served first.

7.4      Should a member wish to withdraw their investment, the client will be eligible to a full refund subject to deduction of monthly service fees.

7.5      Member agrees that money investing was not acquired illegally, such as, from fraudulent activities etc.

7.6      Member is informed that, upon application to borrow, the Company will not approve loan without first conducting affordability assessment; and

7.7      All member borrowings are subjected to a 14 % Loan Administration Fee calculated on the borrowed amount.

7.8      Members who invest but never borrow their investments attract interest at a rate of between 3 to 5% p.a.

7.9      Investment withdrawals less than R10 000 may be lodged 30 days prior to such takeout. Any amount over and above this, the application my take up to six (6) months to be successful.

7.10   Due to the nature of borrowings and risks attached, some Member borrowing may require some sort of collateral or Security. As a result, require a member to get into a Pledge Agreement with the Company.

7.11   For a full list of types of borrowings and loan use, a member is required to enquire with the Company.

8.        Withdrawal from this Agreement

If the suspensive conditions in clause 5 above are not met within 30 (thirty) days of your acceptance of this Agreement, we reserve the right to withdraw from and/or terminate this Agreement on written notice to you.

We have the right to review this Part A at any time after the Date of Issue, and to reassess your application, if you provided incomplete or incorrect information or if additional information is disclosed by you to us or obtained by us after the Date of Issue, which information is material and relevant to the assessment or which may have a material impact on your membership herein with us.

Acceptance

1 I/we confirm that:

1.1      The Summary (“Part A”) and the terms and conditions  (“Part B”) have been explained to me/us and that I/we understand my/our rights and obligations, and the risks and costs of our membership;

1.2      We have been informed that in order to be eligible to borrow, i/we must first be contributing member’s with an active status and that I/we understand my/our rights and obligations, and the risks and costs of borrowing as a member;

1.3      I/we have been informed that I/we can refer any questions I/we may have to Smart Construction at any time;

1.4      I am/we are aware of the importance of the wording printed in bold;

1.5      I/we have been free to secure independent advice in respect of the contents of this Agreement;

1.6      I/we accept the summary shown in this Part A and the related terms and conditions in Part B, and confirm that:

1.6.1  I/we can afford the capital, administration fee and interest payments, and the fees referred to in this Agreement;

1.6.2  I/we have been given copies of this Agreement;

1.6.3  Since applying for membership made up of this Part A and Part B:

1.6.3.1         There has been no deterioration in my/our financial position; and

1.6.3.2         I/we have not applied for or taken up any additional memberships;

1.6.3.3         I/we have fully and truthfully disclosed my/our income and expenses to Smart Construction and have fully and truthfully answered all requests for information made by Smart Construction leading up to the conclusion of this Agreement;

1.6.3.4         I/we have disclosed complete and authentic documentation to Smart Construction to enable Smart Construction to conduct an affordability assessment; and

1.6.3.5         Smart Construction has not induced, harassed or forced me/us to enter into this Agreement;

1.6.3.6         I/we have the necessary legal capacity to enter into this Agreement and that no court has declared that I am/we are mentally unfit;

1.6.3.7         Accepting and entering into this Agreement will not cause me/us to become over-indebted in future when we borrow as contemplated in the NCA;

1.6.3.8         This agreement was completed in full at the time I signed it.

2          If I am married in community of property then I need the consent of my spouse in terms of the Matrimonial Property Act of 1984 before entering into this Agreement.

I confirm that the required consent is held.

3          I/we am/are not under debt review nor have I/we applied for debt review as at the date of signature of this agreement by me/us.

4          I/we am/are aware that I/we must not accept this agreement unless I/we understand my/our rights and obligations, and the risks and costs of our membership.

5          Marketing options

5.1      May we contact you using the contact details given to the Company to let you know about other products and services:

5.1.1 Offered by us, including special offers, upgrades and/or new products?-________________________

5.1.2 Offered by subsidiaries and divisions of the Visionaire Group?-_____________________

5.1.3 Offered by other companies?-___________________

5.2      May we or a company contracted to us contact you for research purposes?-__________________________

Debit order authority and instruction

Account name:

Debit order reference number:

Membership agreement reference number:

Customer ID:

Number of Payments:

Smart Construction-a division of the Visionaire Group (Pty) Ltd

Beneficiary Account number: 62563180167

Payment due date:  The first (1^st) payment under this Agreement, identified by the reference number above (the agreement), will be due and payable on the date stated in the agreement or, if no date has been stated, on the first (1^st) day of the month following the date of my/our membership, after which each payment will be due and payable on the first (1^st) day of each month, thereafter please debit my account as follows.

Cycle: MONTHLY

Deduction date: ____(this is your preferred debit order date, and this date should be the same date as your salary deposit date and it should be on or before the date by which payment must be made, as shown on your statement of account):

Debit order amount: R ____ or such amounts as are due in terms of the agreement identified by the reference number above.

·          To debit my chosen account, or

·          To deliver my payment instruction to my bank for collection and I authorise my bank to debit my chosen account,

In keeping with my payment instructions, starting on or after the deduction date, and thereafter on or after the same day of each<week/fortnight/month> or, if such a day is not a business day, then on the first business day immediately before that day, until my obligations in terms of the agreement have been paid or until the authority is cancelled.

I acknowledge and agree that the payments required in terms of the agreement are due and payable on the payment due date, you have the right to debit my account or to collect the payments at any time on or after the payment due date, but that you will endeavour to debit my account or to collect the payments on my deduction date. I will make sure that there are enough funds in my account on the payment due date and on my preferred debit order date. I agree that if there are not enough funds in my account to meet any payment instruction, subsequent payment instructions may be presented by you on a daily basis until my obligations in terms of the agreement have been met or until this authority is cancelled. I further agree that any payment instruction that is not met due to there not being enough funds in my account, or for any other reason, will be a default in terms of the agreement. The total amount paid in terms of this authority will never be more than my obligations as agreed to in the Agreement.

I agree that, although this authority and mandate may be cancelled by me on one month’s written notice sent to the Company by prepaid registered post at the address shown in the Agreement, such cancellation will not cancel the Agreement. I also understand that I cannot reclaim amounts, which have been withdrawn from my account (paid) in terms of this authority and mandate, if such amounts were legally owing to the Company.

The payment instructions will show the membership agreement reference number above (or as communicated to me), and should enable me to identify the Agreement.

I agree to pay any bank charges relating to this debit order authority and instruction.

I acknowledge that this authority may be ceded or assigned to a third party if the Agreement is also ceded or assigned to that third party.

I agree that there is no onus on the Company to ensure that the account number or branch code given by me is correct. I acknowledge that you rely solely on the account number and branch code given by me to comply with my payment instructions.

This authority will remain in force at any other branch of the bank to which the account may be transferred.

I indemnify the Company and hold the Company harmless against all costs, charges, expenses, legal liability, losses and damages, which I may suffer as a result of your acting in accordance with this debit order authority and instruction. I further indemnify you against any claim by a third party arising from the performance or non-performance, as the case may be, in terms of this debit order authority and instruction.

If a conflict arises between the provisions of the agreement and the provisions of this debit order authority and instruction, the provisions of this debit order authority and instruction will prevail

Since members are allowed and granted access to the investment fund to borrow in line with their subscription package. Your membership will be subjected to the following terms and conditions of this Part B.

Part B- Membership General Terms and Conditions

You confirm that you have had an adequate opportunity to read and understand the terms and conditions contained in this Part B, and that you are aware of all the terms printed in bold. Please contact us if you need further explanation of anything referred to in this Agreement. You may contact us at our email address: info@vgsmartconstruction.co.za or speak to a consultant or representative of Smart Construction on 079 224 7149.

Additional information

1.        Definitions

1.1      “Agreement” means the membership agreement (Part A) of this agreement,  read together with these terms and conditions (Part B) and all letters and notices relating to same;

1.2      “Agreed Term” means duration of membership as determined by clause 4 of Part A;

1.3      “Business Day/s” means any day/s other than a Saturday, Sunday or a statutory holiday in the Republic of South Africa;

1.4      “Company”, “we”, “us”, “our” means Smart Construction a division of the Visionaire Group (Pty) Ltd (Registration number 2015/312689/07) a private company duly incorporated according to the company laws of the Republic of South Africa and its successors in title or assigns;

1.5       “Collateral” means any security, indemnity or undertaking provided to us to secure the repayment of your Loans or Facilities in terms of this Agreement;

1.6      “Collection costs” means the amount that may be charged by us in enforcing your monetary obligations under this Agreement, but excludes any Default Administration Charges;

1.7      “Credit Life Insurance” means the life insurance cover that is payable in the event of your death, disability, terminal illness, unemployment or other insurable risks (whichever applies as per the policy taken by you) that is likely to impair your ability to earn an income or meet your obligations under this Agreement;

1.8      “Credit Limit or Reduced Credit Limit” means the amount of the Loan or Facility that is available for use by you in terms of this Agreement;

1.9      “Credit Record” means your payment profile (your credit history) including adverse information on a credit profile held by a credit bureaux;

1.10   “Current Account” means an active account into and from which deposits and withdrawals can be made by way of cheques, bills, Repayment Authorisations;

1.11   “Customer”, “Consumer”, “Client” means the Member; a natural person or a Juristic person;

1.12   “Default Administration Charges” means charges which you must pay if you default in any payment obligation under this Agreement;

1.13   “Fund” means an account opened by the Company on which all member parties investment contributions are stored;

1.14   “Membership Fee” means the fee (inclusive of VAT) in respect of the cost of initiating this Agreement payable by you upon entering into this Agreement;

1.15   “Service Fee Rate Change Letter” means the letter sent to you stating the new service fee rate applicable to this Agreement, following a Rate change;

1.16   “Lien” means something you use to secure your loan with us; the legal right we have to a property or asset, should you default on your loan Repayment;

1.17   “Loan” or “Facility” means the amount we have agreed to lend you in terms of our Agreement, the type and amount of which is listed in our pre-agreement statement and quotation/cost of credit section (Part A) of our Agreements;

1.18   “Loan Account” means the loan account in your name opened in our books in respect of this Agreement;

1.19   “Loan Administration Fee” means the publicly quoted basic fee of administration (percent, per borrowing), published by us from time to time as being our prime fee, as certified by any of our managers whose authority, appointment and designation need not be proved;

1.20   “Loan Administration Fee Change Letter” means the letter sent to you stating the new Loan Administration Fee rate applicable to this Agreement, following a Rate change;

1.21   “Minimum Repayment” means the minimum amount to be paid by you, as advised by us and as reflected on your latest monthly Statement or Service Fee Rate Change Letter;

1.22   “NCA” means the National Credit Act 34 of 2005 and all regulations promulgated in terms of this Act;

1.23   “Parties” means you and us and “Party” means any one of us as the context may indicate;

1.24   “Premium Amount” means an amount you have agreed to pay on a monthly basis as your investment subscription;

1.25    “Principal Debt” means the total amount owing to us at any time in terms of this Agreement, as reflected in Part A of our Agreements, being the amount deferred in terms of our Agreements;

1.26   “Repayment” means a payment/s made, or to be made by you to us and “Repayment Due Date” means the due date for payment of amounts due and payable as advised by us;

1.27   “Repayment Authorisation” means the method by which you make the Repayments and includes a debit order;

1.28   “Secured Loan” means a loan in which you pledges some assets (e.g. a car or property) as Collateral for the loan, which then becomes a secured debt owed to us by you;

1.29   “Service Fee” means the fee (inclusive of VAT) levied by us in connection with the routine administration costs of maintaining the Loan or Facility or your Membership Account which forms part of your payments or Repayments;

1.30   “Settlement Date” means the date on which all amounts due and payable to us are paid;

1.31   “Settlement Value” means the full amount owing to us under this Agreement together with any unpaid interest and all other legally permissible costs, fees and charges as at the Settlement Date;

1.32   “Statement” means a document reflecting the transactions made on your Loan Account, up to the date of the statement, the full amount owing to us (including any interest, costs, fees and charges that may be levied) and the Repayment Due Date;

1.33   “Statement Date” means the date on which your Statement is created and printed;

1.34   “Tribunal” means the National Consumer Tribunal established by section 26 of the NCA; and

1.35   “VAT” means value added tax charged in terms of the Value Added Tax Act 89 of 1991 and all regulations promulgated in terms of this act.

2.        Interpretation

2.1     Words defined, will (for consistency) begin with a capital letter.

2.2     Where any number of days is referred to in this Agreement, it will include only Business Days and will exclude the first day and include the last day.

2.3     If we are required to exercise our discretion in this Agreement, we will exercise such discretion in a reasonable manner.

2.4     The singular includes the plural and vice versa and any gender includes the other gender.

2.5     All headings are for convenience only and are not to be taken into account for the purposes of interpreting these terms and conditions.

2.6     If any provision in the definitions section is important and gives right to or imposes obligations on a Party, then effect will be given to that provision as if it were a provision in the body of this Agreement.

2.7     All legislation and subordinate legislation mentioned in this Agreement includes legislation or subordinate legislation at the date of signature of this Agreement and as changed or re-enacted from time to time.

2.8     Important clauses which may limit our responsibility or involve some risk for you will be in bold.

3.        Loan Administration Fee

3.1      A fixed 14 percent of the total borrowed amounts excluding contributions, is payable on top by the borrower as Loan Administration Fee fixed on all future borrowings by members. If we do amend the administration fee, we will advise you in writing within at least 30 (thirty) Business Days after the change becomes effective, by way of a Loan Administration Fee Change Letter. Any amendment to the administration fee would also result in an amendment to the amount of all future lending.

3.2      The administration fee payable by you is calculated on the outstanding balance on a daily basis, 365 days a year, irrespective of whether the relevant year is a leap year, charged monthly in arrears and is due and payable on the Repayment Due Date and debited to your Loan Account (as applicable).

3.3      We will be entitled to add any unpaid interest to the outstanding balance of the Principal Debt.

3.4      We may charge and recover from you interest on and in respect of any unpaid costs, fees and charges referred to in this Agreement, provided that the amounts that accrue during the time you are in default will not in total exceed the unpaid balance of the Principal Debt at the time of default.

3.5      The default interest rate applicable to any amount by which you are in default and any amount which is not paid on its due date shall be the legal maximum permissible rate.

4.        Optional Credit Life Insurance for your total outstanding obligations to us (if applicable)

You are required to take out Credit Life Insurance in respect of Loans taken with us or to pledge an asset as collateral. You may accept the policy of insurance referred to or provided by us or you may take out a policy with an insurer of your choice provided that the requirements in clause 4.4 below are satisfied.

4.1 We are entitled to fees, commission, remuneration or benefits in the form of a share in the profits earned on this insurance policy, as determined between us and the insurer from time to time, the amount of which is not known at the Date of Issue of this Agreement.

4.2 The monthly insurance premium will be debited to your Loan Account on the 1^st day of each month and will be included in your Repayment Authorisation.

4.3 If you choose to take this Credit Life Insurance, a separate disclosure, outlining the costs and the dates on which the premiums are due and payable by you, will be given to you.

4.4 The proceeds of any Credit Life Insurance policy taken out in respect of our Loans must be paid to us on the happening of any of the following insured events (if applicable):

4.4.1 Death (normal or accident);

4.4.2 Dread disease;

4.4.3 Disability (temporary or permanent); or

4.4.4 Retrenchment.

5.        Payments and  Arrangements

The Loans or Facilities are granted to you at our sole discretion, exercised reasonably, and we may: immediately restrict activity or suspend all or part of the Credit Limit or Reduced Credit Limit (if applicable) under your Loan or Facility without notice to you, if you are in default under this Agreement or immediately restrict activity, suspend all or part of the Credit Limit or Reduced Credit Limit (if applicable) or withdraw the Credit Limit, without notice to you, if we in any way know or suspect that the Credit Limit is being used fraudulently, negligently or for illegal activities, or if we must do so to comply with any law.  Withdraw all or part of the Credit Limit or Reduced Credit Limit (if applicable) on at least 10(ten) Business Days prior written notice to you of the intended withdrawal.

5.1      These Agreements are payable in monthly/weekly/fortnightly payments and you must pay all Repayments on or before the Repayment Due Date, without any deduction or demand, for the duration of this Agreement and while any amounts are owed to us.

5.2      Each Repayment will be credited to your Loan Account on date of receipt, firstly to satisfy any due or unpaid interest, secondly to satisfy any due or unpaid costs, fees and charges, and thirdly to reduce the amount of the Principal Debt.

5.3      Payments are to be made by way of a Monthly payment authorisation. If the account from which the payments are to be made is closed, for any reason, you will need to make other suitable arrangements with us immediately for the payments of the amounts due in terms of this Agreement.

5.4      Where applicable, you have the right at any time to pay in advance any amounts owed to us without notice or penalty, irrespective (i.e. no matter) of whether or not the amounts are due.

5.5      Where applicable, we reserve the right, in our sole discretion, to accept payment other than by way of Repayment Authorisation.

6.        Default administration charges

6.1      Defaults administration charges will be equal to the amount payable for a registered letter of demand in undefended actions in terms of the Magistrate’s Court Act, 1944 in addition to any reasonable and necessary expenses incurred in delivering the letter.

6.2      Defaults administration charges will be imposed for each letter written in terms of the Act, namely:

6.2.1 If you are in default under this Agreement we may draw such default to your attention in writing and suggest that you refer this Agreement to a debt counsellor, or a dispute resolution agent, consumer court or ombudsman with jurisdiction; and/or

6.2.2 If you have approached a debt counsellor we may, in line with this Agreement, give notice to end the review at any time at least 60 (sixty) business days after the date on which you applied for the debt review.

7.        Collection costs

7.1      Collection costs may not be more than the costs incurred by us in collecting the debt:

7.1.1 To the extent limited by the Act; and

7.1.2 In terms of the Supreme Court Act 59 of 1959, the Magistrates’ Court Act 32 of 1944, the Attorneys’ Act 53 of 1979, or the Debt Collectors’ Act 114 of 1998, whichever is applicable to the court approached by us to enforce this Agreement.

7.2      Collection costs will be charged by us in the event that we have to enforce this Agreement.

8.        Statements

We will provide you with Statements on your Loan Account and you may dispute (i.e. query) all or part of the Statement delivered to you, by sending us written notice of your query within 30 (thirty) days of your Statement Date. You should contact us at any of our Offices or on the telephone number provided above if you do not receive a Statement or if you require any additional Statements. Failure to receive a Statement will not entitle you to refuse or fail to pay any amount that is due to us.

9.        Suretyship

9.1      the surety hereby binds him/herself as surety for and co-principal debtor with the Borrower for the due compliance by the Borrower of all his/her obligations in terms of this Agreement into which this suretyship is incorporated, as well as for all obligations of the Borrower towards the Company from whatever cause arising, both present and in future;

9.2      The Terms and Conditions of the Suretyship Agreement will be those incorporated in this clause, and in the remainder of the Terms and Conditions contained in this Agreement where it expressly or by necessary implications refers to the surety;

9.3      The surety hereby renounces the benefits of the exceptions of divisions, excussion and cession of actions, the meaning of which the Surety declares him/herself to be fully acquainted with;

9.4      This Agreement of suretyship shall remain in force and can only be cancelled with the written consent of the Company.

10.     Severability

The Borrower and Surety agree that each and every clause and sub-clause of this Agreement shall be severable from the rest of the Agreement and that any invalidity of any clause or sub-clause shall not affect the validity of the Agreement as a whole.

11.     Insurance

11.1   We may pay any premium on any insurance or assurance policy (including Credit Life Insurance) taken out by you or us in connection with this Agreement by debiting your Loan Account (as applicable) and you authorise us to do so.

11.2   Notwithstanding any provision to the contrary in this Agreement, nothing in this Agreement will oblige us to take out or pay any premiums on your behalf. If any insurer rejects any insurance claim for any reason you will have no recourse against us.

11.3   You consent to us, at any time, enquiring from your insurer if your insurance policy is still in place and fully paid.

12.     Termination of this Agreement by You

You may terminate this Agreement at any time with or without advance notice to us, by settling the total outstanding amount owing to us. The amount required to settle this Agreement will be the total of the Settlement Value up to and including the Settlement Date. If you would like a Statement of the Settlement Value in respect of the amount owing on your Loan Account, as applicable, we will provide such Statement either orally or in writing, within 5 (five) Business Days of your request to do so.

13.     Addresses for notices

13.1   Any document or legal notices that either party wishes to send to the other must be sent to the address set out in Part A of this Agreement. Any notice or communication required or permitted to be given in respect of the provisions of this Agreement, will be valid and effective only if in writing and sent to the notice addresses set out in Part A of this Agreement.

13.2   If such document is:

13.2.1                       Sent by prepaid registered post, will be deemed to have been received on the 5^th (fifth) Business Day after posting; or sent by ordinary mail in a correctly addressed envelope to the other party’s chosen address, it will be considered as received on the 7^th (seventh) day after posting (unless the contrary is proved); or

13.2.2                       Delivered by hand to a responsible person during Ordinary Business Hours at the other party’s chosen address, it will be considered as received on the day of delivery; or

13.2.3                       Transmitted by telefax to the chosen telefax number set out above or sent by electronic mail to the chosen email address, it will be considered as received on the date of transmission (unless the contrary is proved)

13.3   Any document actually received by a party will be an adequate written notice or communication to that party, even though it was not sent to or delivered at the chosen address. Either party may change their address by delivering to the other party a written notice of the new address by hand, registered mail, or electronic mail.

14.     Confidentiality and Information sharing

Unless Smart Construction is obliged to do so by law, it will not disclose any of my confidential information without my consent or instruction. I consent to Smart Construction disclosing, reporting or releasing any information that Smart Construction suspects may be fraudulent, or information relating to any unlawful activity relating to me to the South African Fraud Prevention Services (SAFPS) and/or any similar organisation or bureau, as well as reporting or releasing any credit information relating to me to any Credit Bureau.

15.     Cession by Smart Construction

15.1   To the maximum extent permitted by law, you hereby agree that we may, without further notice to you, cede and transfer all or part of our rights and/or delegate all or any part of our obligations under this Agreement, either absolutely or as collateral to any person, even though that cession and/or delegation may result in a splitting of claims against you.

15.2   You agree that you may not transfer your rights or delegate your obligations under this Agreement unless you have obtained our written consent.

16.     Jurisdiction

I agree that any legal proceedings that Smart Construction intends bringing against me, as a result of a credit Agreement, may be brought in the Magistrate’s Court and I consent to the jurisdiction of the Magistrate’s Court.

17.     Miscellaneous

I understand that in order for Smart Construction to maintain and improve the quality of the service it provides to its customers any telephone calls that are made by or to its customers are recorded. I give my consent to Smart Construction to record any telephone call between us. I agree that I will promptly notify Smart Construction, in writing, of any change in my address, telephone number, employment or banking details. I also agree that I will immediately notify Smart Construction if I should become insolvent, placed under administration or have any other form of legal disability.

18.     Administration/Sequestration

My estate is not subject to debt review and is not under administration, nor am I an un-rehabilitated insolvent. I further confirm that I am not aware and nor do I contemplate any application to place my estate under debt review or administration during the term of this Agreement.

19.     By signing these terms and conditions you repeat the declaration in Part A, to which these terms and conditions are attached