(a) agreements in which a company grants a loan to its shareholder or another legal entity prefers a loan to a person holding a dominant interest in the corporation; (b) agreements in which a shareholder prefers a loan to a corporation or a person holding a dominant interest in a corporation prefers a loan to that corporation; (c) credit contracts between interdependent family members; (d) credit contracts between family members when one family member depends on the other; and (e) any other agreement in which each party is not independent of the other and therefore does not necessarily seek a maximum benefit from the transaction. If a credit agreement (as provided by the NCA and not excluded, as provided above) is entered into by the consumer and the credit provider does not register as a lender pursuant to Section 40 of the NCA, the contract is void. Nevertheless, the creditor reserves the right to demand restitution on the basis of unjust enrichment. This was confirmed in the National Credit Regulator/Opperman e.a. 2013 (1) SA 1 (CC). Affordable control is a process of assessing a credit provider with a consumer to determine whether or not loans are granted to the consumer. The affordability assessment will determine whether the consumer will be able to meet their obligations under a credit contract. The pre-agreement offer gives the consumer five days to review and accept the credit contract and, if the credit provider is accepted, must enter into the contract at the specified prices. For the purposes of this question, a credit contract is an important contract when it comes to a mortgage contract. To clarify, it is therefore possible for a credit provider to grant credit to the consumer if some of the credit contracts with the consumer are taken into account in determining whether the lender should register as a lender, while other credit contracts are not taken into account. When it is established that a consumer is a corporation, as required by the NCA, the assets or annual turnover of the corporation (the combined assets or annual turnover of all associated corporations at the time of the review of the agreement) must be considered. If the agreement is a small credit contract, the law imposes mandatory forms, while large-scale intermediate and credit contracts do not have pre-defined forms, but have set minimum criteria for the provisions of the law.
Therefore, when a creditor extends credits under a credit contract within the meaning of the law, that creditor must comply with the law and register as a credit provider. (4) A credit contract is an important contract if this is the case: the NCA requires the bank to provide the consumer with a prior agreement and an offer before entering into a credit contract. A credit contract is an agreement between a lender and a consumer in which the credit provider provides goods or services or lends money to consumers. The change in interest rates by credit providers can no longer be based on other factors, except as defined in the credit contract and as permitted by law. With regard to the disclosure of credit contract information, the obligation for small and medium-sized credit contracts is more onerous, as credit providers are required to submit a pre-agreement and a listing offer from which capital, interest rate, additional costs and the minimum rate required are required. The NCA does not apply to a significant agreement between the bank and a consumer who is a legal entity whose assets or annual turnover at the time of the agreement is equal to or above an R1m threshold.