Terms and Conditions

GENERAL TERMS AND CONDITIONS

INTRODUCTION

This document with any schedule which may be attached therein, is a standard written agreement.

APPLICATION AND APPROVAL

By completion of this document the debtor applies for a COD account. Before approval of the application, which approval will be affected in the sole discretion of Hooked on Bass, this document will remain an application only irrespective of a representative of Hooked on Bass having signed it.

INTEREST RATE

Should the debtor fail to pay any amount on the delivery date, the interest will accrue on the full outstanding amount in the discretion of the Lender and interest shall be charged at a rate of 2% per month.

Should it become necessary for the Lender to institute legal action for the recovery of any amount in terms of this agreement, interest will be charged in the discretion of the Lender and interest will be charged on the total amount then outstanding at the rate as set out in this agreement, or at the maximum rate prescribed by the Usury Act.

REPAYMENTS

All repayments in terms hereof shall be payable to Hooked on Bass. Repayments will be used, firstly to pay legal costs (the additional interest if any), then the total cost of credit, and thereafter to reduce the balance of the outstanding amount.

Hooked on Bass is entitled to demand payment of the total amount outstanding in terms of this agreement at any time if the Debtor fails or neglects to strictly observe any of the terms or conditions of this agreement, or in any other way commits a breach of agreement contract.

GARNISHEE ORDER

In the event of default on my part, I hereby agree to an attachment order in terms of section 55J of Act 32 of 1944. I confirm that I will have enough money available for maintaining myself and my family after such an order has been implemented.

AMENDMENTS

This agreement shall be the only agreement between the parties in respect of the customer application. Any amendment thereof must be in writing and signed.

LEGAL COSTS

The Debtor acknowledges that should it become necessary for Hooked on Bass to institute legal action due to the non-compliance of the Debtor with the terms and conditions of this agreement, that he/she shall be liable for all such costs, including tracing fees,

Collection commissions and all other legal costs as calculated between attorney and own client.

GENERAL

1. Hooked on Bass shall in a language understood by the Debtor before the conclusion of the agreement explain the essential terms of the agreement to the Debtor so as to ensure that the meaning and consequences of the agreement are understood.

2. Hooked on Bass shall, before the conclusion of the customer application, allow the Debtor an opportunity to read the agreement, or have it read to the Debtor in the instance where the Debtor is illiterate.

3. Hooked on Bass shall provide the Debtor with a copy of the signed customer application on approval only.

4. Hooked on Bass shall maintain a proper set of accounting records reflecting full details of all money advanced, interest and other charges raised, repayments received and the amounts outstanding.

5. Hooked on Bass shall on demand provide the Debtor with a statement setting out all charges levied, all payments made and the balance outstanding.

6. Hooked on Bass shall inform the Debtor in writing at least 31 (thirty one) calendar days beforehand, by way of a notice addressed to the domicillium of the Debtor, of Hooked on Bass intention to forward adverse information to any credit bureau, which information is to be accessed to subscribers to the        credit bureau, before forwarding any such information to the relevant credit bureau.

7. Default and acceleration will include:

7.1. Any amount due in terms hereof not being paid on the due date by the Debtor; and/or

7.2. Any act of insolvency by the Debtor and/or sequestration of the Debtor’s estate or any application for such sequestration; and/or

7.3. The Debtor breaching any other terms or condition of this agreement.

8. The Debtor hereby declares, consents and agrees that:

8.1. The information given on the credit application as proof of his/her position is a full, true and correct statement.

8.2. He/she has not been insolvent during the past 5 (five) years and is not under legal administration or intention to go under legal administration or insolvency.

8.3. That he/she shall immediately notify Hooked on Bass by registered mail in case of any change in:

8.3.1. His/her employment.

8.3.2. His/her bank particulars

8.3.3. His/her residential address, as stated.

9. Furthermore, Hooked on Bass terms & conditions requires that:

9.1.1 Any goods returned for credit will be subject to a 15% handling charge.

9.1.2 In the event of delivery notes not being signed by the applicant on delivery of goods, the signatories to this application will sign delivery notes on request.

9.1.3 The material supplied remains the property of Hooked on Bass until paid for in full and may be freely repossessed if not paid for in terms thereof.

9.1.4 Dishonoured cheques will be penalised with an amount of R100-00 to cover bank charges.

9.1.5 In the event of dishonoured payment, the full out-standing amount will immediately become due and payable

9.1.6 Account will be put on “hold” if any amounts are overdue after delivery date.

9.1.7 The applicant may only withhold payment in the event of a dispute of the item to which the dispute relates

9.1.8 No representative of Hooked on Bass may alter these conditions, only in writing from Management.

10. CITANDI ET EXECUTANDI

10.1. Each party choose the addresses set out opposite its name below as its address at which all notices, legal proceedings and other communication must be delivered for the purpose of this agreement: Hooked on Bass PO Box 10402, The Falls,1522.

10.2. Any notice or communication required or permitted to be given in terms of this agreement shall be valid and effective only if in writing.

10.3. Any party may by way of written notice to the other party change its chosen address to another physical address, provided that the change shall become effective on the fourteenth day after the receipt of the notice by the addressee.

10.4. Any notice to a party contained in a correctly addressed envelope; and

10.4.1. Sent by prepaid registered post to its chosen address or

10.4.2. Delivered by hand to a responsible person during ordinary business hours at its chosen address shall be deemed to have received.

11. CESSION AND ASSIGNMENT

Hooked on Bass shall be entitled without notice to the Debtor to cede all or any of its rights under this agreement. The Debtor shall, if so required by any cessionary, make all payments direct to the cessionary.

12. SEVERABILITY

Each clause of this agreement is severable, the one from the other, and if any clause is found to be defective or unenforceable for any reason by any competent court, then the remaining clauses shall be continued of full force and effect.

13. SURETY

The signatories to this application specifically agree that by attaching their signatures to this document, they do bind themselves jointly and severally for and on behalf of the applicant for an unlimited amount as sureties and co-principal debtors of the applicant of its obligation to pay Hooked on Bass whatever amounts are now outstanding or which may become due and payable in future even though such amount may exceed the credit limit allowed. The signatories also renounce all benefits and legal exceptions, the and effect of all of which the signatories declare themselves to by fully acquainted: beneficium ordinis seu excussionis, beneficium divisionis, beneficium novae constitutionis de duobus vel pluribus reis dabandi, causa debiti non numeratae pecuniae and errore calculi.

14. WHOLE AGREEMENT

This Agreement constitutes the whole agreement between the parties, and any amendments must be in writing and signed by the parties