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The Credit Service Agreement serves as a foundational document for any entity providing credit services in South Africa. It is essential for compliance with the National Credit Act 34 of 2005 and must be used whenever a credit provider extends credit facilities to consumers or businesses. The agreement encompasses crucial elements such as credit assessments, interest calculations, fee structures, and consumer protection measures. It requires regular updates to reflect changes in legislation and regulatory requirements, particularly those issued by the National Credit Regulator. This document is fundamental for establishing legally compliant credit relationships and must incorporate specific provisions for consumer protection, data privacy, and financial intelligence reporting as required by South African law.

1. Parties: Identification of the credit provider and consumer, including registration details of the credit provider and full consumer information as required by the NCA

2. Background: Context of the agreement and confirmation that credit assessment has been completed as per NCA requirements

3. Definitions: Comprehensive definitions of terms used in the agreement, including those specified in the National Credit Act

4. Credit Facility Terms: Details of the credit facility including credit limit, interest rate, fees and charges as prescribed by the NCA

5. Payment Terms: Payment obligations, methods of payment, payment dates and allocation of payments

6. Interest and Fees: Detailed breakdown of interest calculation, fees structure and total cost of credit as required by NCA

7. Consumer Rights: Statement of consumer rights under the NCA including right to information, cooling-off period, and early settlement

8. Credit Provider Obligations: Obligations of the credit provider including statements, notices and information requirements

9. Default and Enforcement: Consequences of default, enforcement procedures and consumer protections in default scenarios

10. Data Protection: Provisions for handling personal information in compliance with POPIA

11. Dispute Resolution: Procedures for handling disputes and complaints, including NCR processes

12. General Terms: Standard contractual provisions including notices, amendments, and governing law