08 Apr An Intermediate Credit Agreement
220.127.116.11 A large agreement (within the meaning of the law) which is a legal entity whose assets or annual turnover at the time of the agreement are less than one million rand. The regulations provide that different categories of consumer credit information can be retained by credit bureaus. For example, civil judgments can be upheld for the earliest of all, the strength of the national credit regulator, the extensive powers of the National Consumer Court and the courts, the almost paternalistic propensity of the legislature to protect and the vast network of dispute settlement accounts for consumer legislation, which will have a huge impact on the huge credit industry in South Africa.  The NCA distinguishes between small, medium and large agreements, based on the monetary thresholds set in national credit regulations. Different rules apply to each category, for example. B requirements for the content of the agreement, the protection of legal entities and the payment of a debt in advance. 18.104.22.168 A corporation with assets or annual revenues of one million rand or more at the date of the agreement, with the combined assets or annual turnover of all associated legal entities; or this result is so unfair that borrowers of very small loans (which come almost without exception from the poorest communities) are discriminated against. The law itself stipulates that service charges must vary from the main debt, i.e. they should be higher for large loans and lower for smaller loans. That is not the case. Regulations should be amended to set service charges at a percentage of the loan amount, subject to a minimum and cap (as is the case with the introductory tax). Service charges should be waived for small credit contracts and, if applicable, the maximum interest rate should be increased. If the service fee is not amended or abolished, it should be challenged in court.