Document background
The Revolving Agreement is a fundamental document used in South African credit markets to establish ongoing credit facilities where borrowed amounts can be repaid and re-borrowed within an approved limit. This agreement type is essential for both consumer and commercial credit arrangements, requiring strict compliance with the National Credit Act 34 of 2005 and other relevant South African legislation. The document encompasses credit terms, regulatory disclosures, borrower protections, and operational procedures for facility utilization. It's particularly relevant in contexts where parties need flexible, continuing access to credit, such as working capital financing, retail credit facilities, or corporate revolving lines of credit. The agreement must incorporate mandatory consumer protection provisions while maintaining commercial practicality.
