Objectives:
- The creation of a framework where competition and transparency is promoted
- Equal rights and protection of rights to consumers
- Measures to avoid over-indebtedness
- Avoidance of reckless lending
- Regulatory framework for credit bureaus, credit providers and debt counselors
- Regulatory formal complaint procedures for protection and compensation
Credit Agreements
The following are examples of the three types of credit agreements:
| Credit Facility | Credit Transaction | Credit Guarantee | |
|---|---|---|---|
| Small Up to R15,000 |
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| Intermediate R15,001 to R249,999 |
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| Large R250,000 and above |
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