March 2, 2021

Credit Management Insights
January 26, 2021

Excess Of Loss Cover – a first for South Africa

Excess Of Loss credit insurance cover has finally made its way to South Africa after being in development for the past 2 years. This is a real boost for local companies that credit insure their Business-to-Business debtors, which is a form of insurance that guarantees payment if any of their debtors fail to pay their account.   B2B credit transactions, otherwise known as Trade Credit or Commercial Credit, typically involve millions of Rands in transaction values and happens when a company grants their client a credit facility – usually for no longer than 30 to 60 days after the delivery of their goods or services. With high average account values, […]
December 1, 2020

Soccer for a great cause

On Saturday 28 November 2020, Debtsource hosted our annual 6-a-side soccer tournament. The event was supported by 8 teams and the funds raised are being donated to Abraham Kriel Bambanani. Our congratulations to the team from Baloi Security who walked away with the winning trophy! Our sincerest appreciation to all the teams who supported the event which included teams from Cemza; EQ-Fin; GIB Insurance; GHI Architectural Solutions; iToo; and Debtsource. Many of the teams additionally sponsored cash donations and stationery, including Robinsons Liquor who made a generous donation to the Abraham Kriel Bambanani cause. For those not familiar with the sterling work that this charity does – Abraham Kriel Bambanani […]
May 14, 2020
Credit application

To complete and sign a credit application form, or not?

As is so often the case in our legal system, intention and practice are far removed from each other. The extent of the National Credit Act (35 of 2005) is a prime example of misunderstanding which accidently or purposely crept into our everyday lives. Was the intention of the act to protect every borrower or just the ill-informed and those less inclined to be able to be protected from unscrupulous lenders? More relevant to our business at Debtsource is the question often raised by parties relating to a credit application, and here, even legal practitioners differ: Does the NCA require all your clients to complete and sign a credit application […]