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1.                   INTRODUCTION

Wozipo Capital (Pty) Ltd ("Wozipo") is a registered credit provider NCR Reg No. NCRCP402. The Terms and Conditions as read together with the Quotation/Application Form ("Quotation/Application Form") to which they are attached must be read together as one document which together make up the Agreement ("the Agreement") between Wozipo and the Applicant who is named as such on the front page of the Quotation/Application Form. The Applicant will be referred to herein as "you, your or yourself". "Law" means common law, statutes, regulations and any subsidiary legislation prevailing from time to time in the Republic of South Africa.



Once Wozipo has assessed your application for finance and has agreed to lend you the amount set out in the Quotation/Application Form ("the Amount") on the terms and conditions set out herein, and once you have signed the Quotation/Application Form together with the terms and conditions this becomes a binding agreement between Wozipo and You. For the avoidance of doubt, the terms and conditions set out in the Pre-Agreement Statement and Quotation supersede and replace any voice recording which originated the Agreement for all purposes of the Act. Should we subsequently agree to extend a further loan amount to you by way of a change to the Agreement, we will provide you with a further Quotation reflecting the additional loan amount and any resulting change to the cost of credit, interest rate, repayment period and instalment amount. In such a case, should you accept the further Quotation, the terms and conditions set out in this document will be incorporated by reference into the amended Agreement. You need to ensure that you store this Pre-Agreement Statement in a safe place so that you can refer to it in future.


3.                   PAYMENT RECEIVED BY YOU

Once Wozipo is in possession of the signed Quotation/Application Form and terms and conditions annexed thereto, the amount will be paid into the nominated bank account.


4.                   REPAYMENT OF MONEY

4.1.               You agree that you are indebted to Wozipo for the total contractual amount as set out in the Quotation/Application Form hereof, once the amount has been paid into the account as indicated by you, repayable in equal periodic instalments commencing on the date completed in the Quotation/Application Form as your first deduction date and continuing every month, fortnight or week as the case may be until the money has been repaid in full.

4.2.               The deduction from your salary may be made by your employer and paid to Wozipo in line with the Quotation/Application Form thereof. Should your employer fail to make any payment to Wozipo, Wozipo is entitled to run a debit order for the outstanding instalment amount from your bank account. In the event an instalment is not collected for that period, a penalty may be incurred.

4.3.               Repayments will be allocated, at Wozipo's sole discretion, firstly to the Initiation fee, Service fee and Finance charges and thereafter to reduce the balance of the outstanding capital amount which was originally advanced to you.

4.4.               You will not be entitled to withhold any monies or set-off any counterclaim that you may have against Wozipo and raise this as a reason for non-payment until this money is fully paid up.

4.5.               Should you default on any instalment the period may further be extended to allow you to settle your indebtedness over the additional period at Wozipo's sole discretion.

4.6.               Notwithstanding the date on which Wozipo receives your instalment (whether monthly, weekly or fortnightly), from you or your employer, the first instalment due date will be the last day of the month.

4.7.               Only where applicable, the terms of this agreement shall be based on Heter Iska (in which case "Repayment " shall mean "profit payment"), it being fully understood that you will not be liable to pay any amount more than that set out in the Schedule.


5.                   FEES AND CHARGES

In addition to the amount, you will be responsible for the payment of the fees and finance charges referred to in the Quotation/Application Form. If there is any change to any fees or charges, we will notify you of any such changes at least 5 (five) business days prior to the implementation of such changes.

5.1.               Initiation Fee

                  Relates to the preparation and admin cost of the credit vetting process and sundry clerical administration. You have the option of either paying this fee upfront or having it included in the principal debt. If it is included in the principal debt, interest will be charged on the initiation fee. If you choose to pay the initiation fee upfront, you need to make payment to the nominated bank account that we give you, quoting the reference number that we provide, and provide us with proof of such payment before the loan amount can be advanced to you. This fee is not applicable where a new loan replaces an existing loan or where an additional loan amount is paid in terms of a change to an existing Agreement.

5.2.               Service Fee

                  Relates to the ongoing cost of collections according to the NCR regulations and is a fee we charge each month to manage your Agreement. We will add the fee monthly to the Principal Debt. The service fees we charge will never exceed the maximum fee in terms of the Act (which fee may be amended from time to time if the Act is amended). We will give you at least 5 (five) business days written notice if we increase the service fee amount.

5.3.               Annual Rate

                  The amount shall include finance charges and be capitalized monthly at the monthly finance charge rate set out in the Quotation/Application Form.

5.4.               Default and Penalty Fees

                  To the extent permitted by the Act, should you at any time be in default in terms of this Agreement, you will be liable to pay the default administration and collection costs arising from your failure to comply with any of the terms and conditions of this Agreement, and for legal costs, collection costs and commission on all payments made by you if the matter is referred to a debt collection company or attorney. Such costs will be charged as and when they occur. You will be responsible for the payment of Penalty fees of R68 incurred in the event an instalment is not collected from you and the term of the loan is extended. For every monthly amount not collected a penalty fee is charged.

5.5.               Interest

                  This will be calculated daily in arrears at the Annual Interest Rate and compounded on a monthly basis on your elected due date for repayment. It is charged from the date the Agreement is concluded or the date an amended Agreement is accepted by you. If you pay any instalments later than the date that it is due, you will pay additional interest on the arrear amounts at the same interest rate as set out on the Quotation and which applies to the Agreement.

5.6.               Statements

                  We will send you a statement of account every second month, which you may choose to receive monthly or quarterly.


6.                   EARLY SETTLEMENT

You may settle this Agreement in full at any time by paying the full outstanding amount due to Wozipo. In such an event, the settlement value will be the unpaid balance of the principle debt plus the unpaid interest and all other fees and charges payable by you to us up until the settlement date. You may obtain the settlement value from Wozipo at any time.


7.                   DEFAULT AND ACCELERATION

7.1.               Should you;

7.1.1.          fail to pay any amount payable by you to Wozipo on the due date thereof; or

7.1.2.          breach any provision of this Agreement; or

7.1.3.          publish a notice of the voluntary surrender of your estate;

7.1.4.          or die; or

7.1.5.          have an application for sequestration or curatorship brought against you; or

7.1.6.          be or become insolvent or commit any act which is or would be an act as defined in the Insolvency Act No. 24 of 1936; or

7.1.7.          give Wozipo incorrect, misleading or deceptive information in connection with this Agreement;

7.1.8.          act fraudulently or dishonestly in connection with this Agreement you will be in default.

7.2.               If you are in default, Wozipo may:

7.2.1.          give you written notice of such default and propose that you refer the Agreement to a debt counsellor, alternative dispute resolution agent, consumer court or Ombud with jurisdiction, with the intent that the parties resolve any dispute under this Agreement or develop and agree on a plan to get repayments up to date;

7.2.2.          commence legal proceedings to enforce this Agreement, subject to having provided you with notice in terms of 7.2.1 above and you are and have been in default under this Agreement for at least 20 (twenty) business days; at least 10 (ten) business days have elapsed since Wozipo delivered the notice, and you have not responded to that notice, or have responded to the notice by rejecting Wozipo's proposal;

7.2.3.          At any time before termination of the Agreement you are entitled to reinstate the Agreement if it is in default by paying all overdue amounts, as well as our permitted default charges and reasonable costs up to the time of reinstatement.


8.                   COLLECTION COSTS

Wozipo is entitled to charge you for each letter it needs to write to you in terms of the National Credit Act ("the Act"), Where you are in default under the Agreement, the full outstanding capital balance will become due and payable immediately and you will also be liable for default administration charges and collection costs in terms of the Supreme Court Act, the Magistrates Court Act, the Debt Collectors Act or the Attorneys Act, whichever is applicable.



9.1.               By your signature hereto, you acknowledge and agree that:

9.1.1.          Wozipo have an may obtain any information of any nature whatsoever which relates to you and which may affect your application being granted;

9.1.2.          Wozipo may obtain from and disclose to any credit bureau, the National Loans Register, South African Fraud Prevention Services and/or any of its agents or successors-in-title information with regard to this Agreement, your credit profile and history or any incorrect or false information given by you to Wozipo.

9.2.               In addition, by your signature hereto you hereby confirm that Wozipo may transmit to registered credit bureau information concerning:

9.2.1.          this Agreement and your account with Wozipo;

9.2.2.          any non-compliance by you with the terms of this Agreement, in which event we will give you notice first.

9.3.               You agree that such credit bureau will provide a credit profile and possibly a credit score on your credit worthiness.

9.4.               You have the right to contact the credit bureau to have the credit disclosed and correct any inaccurate information.

9.5.               However, where we intend to submit adverse information such as bad debt or handed over for legal action we will give you at least 20 (twenty) business days’ notice thereof. The credit bureau may use the information that we transmit to provide a credit profile and credit score reflecting your credit worthiness. You may contact the Credit Bureau at any time and you have the right to have your credit record disclosed and you may challenge any incorrect information and have the information corrected where we are unable to provide credible evidence verifying the information.


10.                GENERAL

10.1.            Any amendment to this agreement must be in writing and signed by both parties.

10.2.            If you are unable to make your repayments, you have a right to apply to a debt counsellor to be declared over indebted. A fee might be payable to such debt counsellor who will then evaluate the extent of your indebtedness and may attempt to assist you with the re-arrangement of your debt, if you are in fact over-indebted. If you applied for debt review in terms of section 86 of the Act, and the review is not finalised within 60 (sixty) business days after you applied for the debt review, we may send a notice, terminating the debt review in terms of section 86 (10) of the Act.

10.3.            By signing this agreement, you are also automatically opting in to receive any correspondence from us (you may opt-out of the correspondence at any time).

10.4.            Wozipo may cede and/or assign any of its rights and obligations under the Agreement to any third party without your consent, in which case you hereby authorise Wozipo to disclose any information, including documents, which Wozipo may have relating to you, including any information about the performance of your obligations under the Agreement, to any person to facilitate this right. You may not cede or assign your rights and obligations under the Agreement.

10.5.            By your signature hereto you consent to the jurisdiction of any Magistrates Court having jurisdiction. Wozipo may however agree to start legal proceedings in any other competent court.


11.                NOTICE ADDRESS

All notices, letters, documents, legal letters and legal processes sent by Wozipo concerning the Loan and/or Finance Agreement must be sent to your work place physical address, alternatively residential, as your chosen address to receive such correspondences and legal processes as reflected in the Quotation/Application Form. Wozipo appoints its physical address as appearing on the Quotation/Application Form as its chosen service address. Written notice must be given to the other party for any change of address, which will only be effective 4 (four) business days after the date on which the notice of such change is received. You accept that you will be deemed to have received a notice or letter 5 (five) business days after we have posted it or 2 (two) business days after we have emailed or sent it electronically.


12.                PAYMENT METHOD

12.1.            Payroll deduction (Section 34 Act 75 of 1997)

12.1.1.       You, by your signature hereto, hereby authorize your employer to deduct all instalments due by you to Wozipo, from your remuneration. You acknowledge that your employer is bound to continue making these deductions until such time as the money has been repaid in full and that you cannot cancel this authority to deduct without Wozipo's prior written permission.

12.1.2.       You hereby irrevocably instruct the financial authority of your employer to deduct and pay over to Wozipo all amounts due on or before the agreed upon date between the employer and Wozipo.

12.1.3.       If your employer fails to make payment of any instalment due by you to Wozipo, for any reason whatsoever, you hereby authorize Wozipo to collect any unpaid instalments by way of debit order deduction from your banking account.

12.1.4.       It is your responsibility to ensure that Wozipo receives the agreed instalments on time, even if it has been agreed that the instalments will be deducted from your salary or banking account.

12.2.            Debit order instruction and authority to deduct

12.2.1.       Should your employer refuse to make any deduction or fails to do so for any reason whatsoever, you, by your signature hereto, hereby request, instruct and authorise Wozipo to draw against the bank account nominated by you in the Application Form, or against any other bank account that you may subsequently open or have opened, held at any bank, the amount necessary for the payment of the monthly instalment/s due to Wozipo in terms of this Agreement on the date agreed by you each and every month commencing on the first instalment payment date reflected in the Quotation/Application Form, and any finance charges and/or fees or costs that may be payable or which have accrued in respect of the agreement. Where you have elected to pay instalments monthly, fortnightly, weekly or in any other time interval allocated in the Quotation/Application Form, you further authorize Wozipo to deduct the monthly instalments in such pro rata amounts.

12.2.2.       All withdrawals by Wozipo shall be treated as if they had been authorized and signed by you personally. You understand that the withdrawals hereby authorised will be processed using the payment service system provided by your bank. The details of each withdrawal will be printed on your bank statement or any accompanying voucher. Any bank charges relating to this debit order instruction will be paid by you. Provided that you have paid the full outstanding amount to Wozipo this debit instruction may be cancelled by you on 30 (thirty) days’ notice in writing sent to Wozipo by prepaid registered post. Receipt of this instruction by Wozipo shall be regarded as receipt thereof by your nominated bank at the time of such receipt. You understand that you will not be entitled to any refund of amounts which you have withdrawn while this authority was in force or there existed an outstanding balance owed by you to Wozipo arising from the performance or non-performance, as the case may be, in terms of this authority.



13.1.            We are bound and committed to uphold the terms and provisions of the National Credit Act (“NCA”),  both Section 51 of the Electronic Communications and Transactions Act, 2002 (“ECT Act”) as well as the Protection of Personal Information Act 4 of 2013 (“POPI Act”) regarding the processing of your personal information. We may use any necessary legal means to check and validate the information you provide to us.

13.2.            Your information shall be kept confidential. However, we may disclose it to certain third parties (as required in the normal course of our business), for the specific purpose of this Agreement and to reduce and prevent any form of fraudulent activity, and otherwise as may be legally required by us. Where your personal information is shared with third parties, we endeavour to ensure that they understand and adhere to the provisions of the POPI Act in so far as it relates to the processing of your personal information and we endeavour to have privacy agreements in place to ensure adherence to this. We have implemented reasonable security measures to protect your personal information that we process to ensure that your privacy and confidentiality is upheld.

13.3.            You have provided us with your personal information and have further consented to us processing your personal information in accordance with the provisions of the POPI Act and you further confirm that the information you have provided us is accurate and correct. We will destroy your personal information that you have provided to us upon your request.

13.4.            We are required by various laws to maintain records and we need to collect, use and disclose information to the extent permissible under applicable laws. All of the categories of information that we collect may be shared with third parties, including those within our corporate family and its divisions, for a lawful business purpose. We will not sell or rent your information for financial gain. We will only share your information with third parties if there is a legitimate reason to do so.

13.5.            The Promotion of Access to Information Act (PAIA) coupled with POPIA offers you the right to access information held by a public or private body in certain instances. This right can be exercised in accordance with our PAIA Policy which can be made available upon request.

13.6.            This document is to be read together with our Privacy and PAIA Policy which is available on our website and which you are deemed to have agreed to. Should you have any queries or concerns relating to any terms, or should you wish to withdraw your consent to allow us to process your personal information, you may, at any time, send a request in writing to us.



14.1.            You hereby consent to Wozipo having access to your financial, credit and employment information, as stipulated in this clause, whilst you fully understand that all your financial, credit and employment information is confidential.

14.2.            You, by your signature hereto, hereby direct and instruct your bank to release any financial information that Wozipo may require relating to your banking account and such information includes, but is not limited to, the following:

14.2.1.       confirmation of whether you are the holder of the banking account;

14.2.2.       confirmation of the banking account number, type of account and the branch at which the account is held;

14.2.3.       the time period during which the banking account was active;

14.2.4.       the balance and turnover of the account;

14.2.5.       the transaction or history of the account;

14.2.6.       a statement relating to the transactions that were conducted through the banking account;

14.2.7.       a reconciliation report and an item analysis indicating the date on which the funds are deposited into or withdrawn from the banking account; and

14.2.8.       information relating to any other banking account/s held at the bank.

14.3.            You, by your signature hereto, hereby direct and instruct your employer to release any information that Wozipo may require relating to your employment relationship with your employer, and such information includes, but is not limited to, the following:

14.3.1.       confirmation of your employment;

14.3.2.       the date upon which you are paid;

14.3.3.       details of your remuneration;

14.3.4.       copies of your payslip (both historical and current); and

14.3.5.       the status of your employment.


15.                COMPLAINTS

15.1.            In the event of a dispute or a complaint, you should first refer the matter to Wozipo. If Wozipo is not able to resolve your dispute or complaint, the matter may be referred to an alternate dispute agent for resolution by independent conciliation, mediation or arbitration. If this is not successful, acceptable or possible, you are entitled to file a complaint with the National Credit Regulator, or make an application to the National Consumer Tribunal and you also have the right to request the assistance of the Banking Ombudsman.

15.2.            Complaints and disputes contact details are as follows:

·                     Wozipo Complaints/Compliance Department: phone 011 242 5005 or email

·                     Banking Ombudsman: phone 0860 800 900011 838 0035/38/39 or email

·                     National Credit Regulator: phone 0860 627 627 or email

·                     National Consumer Tribunal: phone 012 683 8140 or email



                  You have the right:

·                     to apply for credit;

·                     to protection against discrimination in respect of credit;

·                     to request that the dominant reason why credit was declined be provided to you in writing;

·                     to be provided with documentation that is required under the Act, in an official language for which we have been approved by the National Credit Regulator;

·                     to information in plain and understandable language;

·                     to receive all documents that are required by the Act;

·                     to be provided with a quotation that is valid for 5 (five) business days and with a Pre-Agreement Statement, the terms and conditions of both of which shall be fully explained to you prior to you entering into any credit agreement;

·                     to be excluded from any—

·                     telemarketing campaign that may be conducted by or on behalf of the credit provider;

·                     marketing or customer list that may be sold or distributed by the credit provider, other than as required by the Act; or

·                     any mass distribution of email or sms messages by or on behalf of the credit provider.



17.1.            By accepting the Quotation and the terms of this Pre-Agreement Statement you acknowledge and confirm that:

·                     you have reviewed the Quotation and Pre-Agreement Statement and that you understand and appreciate the costs, risks, rights, obligations, costs of credit and credit cost multiple associated with you entering into the Agreement;

·                     if the income reflected in your documents confirming your income, is different to the amount on your application, the quotation may be recalculated and it may change or be withdrawn;

·                     you have answered all questions fully and truthfully and that you can afford the monthly loan repayments as quoted to you;

·                     if you are married in community of property, you require your spouse’s consent to enter into this Agreement and you have obtained such consent;

·                     any additional loan amount that may be extended to you as a change to the Agreement will not create a new agreement, and such extension will be on the same terms and conditions as contained herein;

·                     you have not taken up any further credit other than that which already existed at the time you applied for finance;

·                     all the information that you have given us is true and current in every respect and that we may rely on this information;

·                     if you fail to pay any amounts due under the Agreement, Wozipo will be entitled to contact you in respect of these failed payments any day of the week;

·                     if there are insufficient funds in the nominated bank account to meet the debit order obligations, we are entitled to track your bank account at any time and re-present the instruction for payment without notification to you as soon as sufficient funds are available in the aforementioned bank account;

·                     should your debit order authorisation be cancelled/ revoked on the basis of 3 (three) consecutive failed payments, you hereby authorise Wozipo re-instate your debit order at its discretion;

·                     in the event that you change your bank account details, Wozipo is authorised to apply those bank account changes to any other contract you concluded through Wozipo;

17.2.            You further agree that Wozipo will not be liable for:

·                     any claims, loss, damages or liability suffered or incurred by you arising in connection with any fraudulent, unauthorised or mistaken transaction, payment instruction, reversal or error correction made by the creditor listed on the Consolidation Loan Agreement;

·                     any cause or event outside the reasonable control of Wozipo;

·                     any indirect, consequential or incidental loss, damages or liability suffered or incurred in any circumstances whatsoever in connection with services or products supplied by the creditor listed on the Loan Agreement;

·                     we reserve the right to withdraw from the Agreement by giving written notice thereof should any new or previously undisclosed fact emerge that would adversely affect your credit worthiness or ability to repay this loan. The Agreement will then be of no force and effect and neither party will have any claim against the other.

17.3.            By signing this Agreement you declare and agree that you:

·                     have read the Agreement or that it has been read to you;

·                     understand and appreciate the terms and conditions of the Agreement as explained to you in a language of your choice;

·                     have been given a copy of the Agreement;

·                     you accept all of the terms and conditions of the Agreement;

·                     you agree to be bound by all of the declarations and terms contained in the Agreement and those contained in the Quote/Application Form;

·                     you declare that all of the information that you have provided, now and previously, including, but not limited to, the declarations provided in the Application Form, is true and correct in all respects and is not misleading nor does it misrepresent any facts or information in any way.


18.                PAYMENT TO THIRD PARTIES

18.1.            A third party is any entity that provides a product or service stipulated in the Quotation/Application Form.

18.2.            Wozipo Capital will not make any payments to a third party that does not have a VAT number.

18.3.            Wozipo Capital reserves the right to decline a payment to a Third party.

You will make sure a pro forma invoice or quote by the third party include their correct banking details. You will be liable for any amounts paid into a nominated Third Party’s bank account that has been supplied to us incorrectly.



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