REVOLVING LOAN TERMS AND CONDITIONS The following terms & conditions, read with the pre-agreement statement & quotation sets out your and our rights and duties. In these terms & conditions the words “you” or “your” means the account holder and any person the account holder allows to operate the account. The words “us”, “our”, “we” or “the bank” only refers to FNB. The words “business days” means a day, which is not a Saturday, Sunday or an official public holiday in the Republic of South Africa. 1. HOW INTEREST IS CALCULATED? “Prime” means the bank’s prime rate of interest as publicly quoted from time to time. The interest rate is expressed as an annual percentage of the total outstanding amount of your Revolving Loan. The interest rate is calculated daily and compounded monthly in arrears according to the method of calculation prescribed by the NCA. Arrear interest charged to you for arrear amounts will be equal to the interest rate charged for the agreement. 2. WHEN AND HOW WE WILL SEND YOU STATEMENTS You will be provided with statements for your account, every second month. The statements will be sent to the address shown in your quotation or by e- mail to your stated e- mail address. 3. THE REVOLVING LOAN IS LINKED TO YOUR FNB CHEQUE ACCOUNT To have a Revolving Loan you must have an active cheque account with FNB and you must deposit your monthly income into this account. If this account is closed, the full outstanding amount of your Revolving Loan must be paid back by you to the bank on demand from the bank. 4. YOU CAN ACCESS THE MONEY IN YOUR REVOLVING LOAN THROUGH YOUR CHEQUE ACCOUNT You can only transfer money from the Revolving Loan by first transferring money into your linked FNB cheque account and then accessing the funds from your linked FNB cheque account. 5. YOU CAN ONLY TRANSFER A CERTAIN AMOUNT FROM YOUR REVOLVING LOAN The minimum transfer from your Revolving Loan is restricted to R1,000 at any time, and is subject to you having available funds to transfer. 6. THE FOLLOWING ACTS WILL PLACE YOU IN DEFAULT Any of the following acts will place you in default of your Credit Facility if you do not fix them (if possible) within 15 (fifteen) days of receiving written notice from the bank to do so: Failing to pay any amount owing to the bank when it is due; Exceeding your maximum Credit Facility limit; Any breach of this facility or any other facility with the FirstRand Banking Group is committed or allowed by you or a surety; A judgment is given against you and is not satisfied within 15 (fifteen) days thereafter; You or any surety commit an act of insolvency mentioned in the Insolvency Act 24 of 1936, as amended; You or any surety are provisionally or finally sequestrated / liquidated (whether voluntarily or compulsorily), placed under judicial management or administration or, being a partnership, dissolved; You or any surety sell the whole or a major portion of your business or assets; You or any surety apply for assistance in terms of the Agricultural Credit Act 28 of 1966 as amended; You or any surety have furnished information in your Credit Facility application that is incorrect or you have failed to disclose material information that would have influenced the bank’s decision to grant any banking facilities or the actual credit limit granted; You or any surety generally do or allow anything to be done that may prejudice the bank’s rights or interests; Failing to pay the rates and taxes on any property mortgaged to the bank on time or any insurance policies in terms of such mortgage/s; You or any surety that is a company, close corporation, or other legal person is subject to a change of control. 7. WHAT HAPPENS IF YOU DEFAULT? If you are in default of any provision of your Credit Facility, the bank may take the steps set out in Part C of Chapter 6 of the NCA or suspend your Credit Facility. In addition, since your Credit Facility is a credit facility in terms of the NCA, the bank can at any time, with at least 10 business days' written notice to you, terminate your Credit Facility and thereafter claim the full outstanding amount of your Credit Facility, without affecting any of its other rights. Without limiting any rights that the bank may have in terms of the common law or the NCA, the following process will be followed should your Credit Facility remain in default for a period longer than 20 (twenty) days: The bank will draw such default to your notice in writing giving you at least 10 (ten) days to rectify such default, alternatively, proposing that you refer your Credit Facility to a Debt Counsellor, alternatively a Dispute Resolution Agent, Consumer Court or Ombudsman with jurisdiction. Should you not fix your default within at least 10 (ten) days from the date as set out above, or exercise any other right you have as set out above, your Credit Facility will be handed to our attorneys for recovery. The cost of recovery, if incurred, may not exceed the costs incurred by the bank in collecting the debt to the extent limited by Part C of Chapter 6 of the NCA, The Supreme Court Act 59 of 1959, The Magistrate’s Court Act 32 of 1944, The Attorneys’ Act 53 of 1979, or The Debt Collectors’ Act 114 of 1998, whichever applies to the Court approached by the bank to enforce your Credit Facility. You will only be charged collection costs by the bank if the bank has to enforce the terms and conditions of your Credit Facility. Such collection cost will include legal costs as on the scale between an attorney and his own client (attorney and client cost in the case of the Magistrate's Court being used), collection commission, tracing fees and other fees or disbursements incurred by the bank in collecting any amounts owing by you to the bank, including value-added tax where applicable. The total interest charged by the bank if you default will not exceed the maximum percentage of recoverable interest as stated in your Credit Facility. 8. DEFAULT ADMINISTRATION COSTS YOU WILL BE RESPONSIBLE FOR IF YOU ARE IN DEFAULT If you are in default in terms of this agreement the bank will advise you of this in writing. The bank’s schedule of fees contains the charges that apply in such case. A default administration cost, if applicable, can, in the case of default, be charged by the bank. If this happens then: Default administration charges will be equal to the amount payable in respect of a registered letter of demand in undefended actions in terms of the Magistrate’s Court Act, 32 of 1944, in addition to any reasonable and necessary expenses incurred in delivering such letter; Default administration charges will be imposed in the bank's discretion in respect of each letter necessarily written in terms of Part C of Chapter 6 of the National Credit Act, 34 of 2005 (the "NCA"), namely:If you are in default under this facility agreement, the bank may draw such default to your notice in writing and propose that you refer this facility to a Debt Counsellor, alternatively a Dispute Resolution Agent, Consumer Court or Ombudsman with jurisdiction; If you are in default under your Credit Facility, which is being reviewed in terms of Section 86 of the Act, the bank may, in respect of this facility, give you notice to terminate such review in the prescribed manner. 9. SHARING AND GETTING INFORMATION ABOUT YOU FROM CREDIT BUREAUX You agree that we may access any information recorded with any credit bureaux. Any information relating to the non-compliance with the terms and conditions of your Credit Facility, the application, opening and termination of your Credit Facility will be disclosed to and used by any other division of the bank and credit bureaux. All Credit Bureaux provide a credit profile on persons as well as possibly a credit score on the credit worthiness of persons. The bank shares credit information to the following Credit Bureaux: Transunion ITC, who can be contacted at 0861 482 482; Experian, who can be contacted at 0861 105 665; Expert Decision Systems, who can be contacted at 0860 937 000 Please note that you have the right to contact any Credit Bureaux to obtain information about your credit record disclosed and to correct any incorrect or inaccurate information. 10. ADDRESSES YOU AND THE BANK CHOOSE TO RECEIVE COMMUNICATIONS, NOTICES AND LEGAL DOCUMENTS      You agree that we may send you any communication, which includes any document, form or notice by ordinary mail, fax or e-mail to the relevant addresses as recorded in the quotation we gave you for your Revolving Loan.. Documents, forms or notices that we must by law serve on you will be served at your physical address as recorded in the quotation. Any legal notice, form or document you want to send to us must be served on the following address: 3rd Floor, 1 First Place, Cnr Simmonds and Pritchard Streets, Johannesburg, 2001 Either you or we can change our addresses to another address by giving each other written notice of the new address. Notice must be given of the change at least 10 (ten) business days before the change will take effect. A document, form or notice will be treated as having been received by the party to whom it was sent: o if delivered by hand during normal hours - on the date it was delivered. o if posted by prepaid registered post - at 10H00 on the fourth day after the post office issued the registration receipt. o if sent by fax - on the date shown on the receipt the fax machine generated. o if sent by e-mail - on the date on which the notice was e-mailed. 11. YOU CAN SETTLE YOUR CREDIT FACILITY AT ANY TIME OR PAY WHAT YOU OWE EARLY You may cancel or settle your Credit Facility at any time, by paying the amount you owe us there under, with or without giving advance notice to the bank. In such case you must settle the following (1) the unpaid balance of your Credit Facility's credit limit; (2) the unpaid interest charges; and (3) all other fees and charges that are be due. 12. YOU HAVE THE RIGHT TO TERMINATE THIS AGREEMENT You are allowed to terminate this agreement by settling the amount outstanding in full, of your Credit Facility at any time with or without advance notice to the bank. The amount required to settle your Credit Facility is the total of the following amounts: The total unpaid balance of your Credit Facility at the time; and The unpaid interest charges and all other fees, charges and insurance premiums payable by you to the bank up to the settlement date. 13. YOU CAN RESOLVE A DISPUTE USING THE FOLLOWING ALTERNATE DISPUTE RESOLUTION You have the right to resolve a complaint by way of alternate dispute resolution, by filing your complaint with the National Credit Regulator or making an application to the National Consumer Tribunal. You may contact: The National Credit Regulator on 0860 627627 or visit the website at www.ncr.org.za; The National Consumer Tribunal on 0860 627 627 or visit the website at www.ncr.org.za; The banking Ombudsman on 011-838-0035 or 0860-800-900 or visit the website at www.obssa.co.za. 14. YOU HAVE THE RIGHT TO APPLY FOR A DEBT COUNSELLOR TO DECLARE YOU OVER INDEBTED You are entitled to apply to a debt counsellor to be declared over indebted in terms of section 86 of the NCA. In order to do so: You are required to fill in an application form that must be submitted to a debt counsellor. This application form can be obtained from the National Credit Regulator whose details appear above. The debt counsellor may require you to pay an application fee before accepting an application. Upon receipt by a debt counsellor of the application, such debt counsellor must provide you with proof of receipt of the application and notify all credit providers and every registered Credit Bureau of the application. As an alternative, please talk to us if you are having financial difficulties by contacting our own internal Debt review Centre on 0860362002. 15. YOU CAN INCREASE / REDUCE YOUR CREDIT FACILITY AT ANY TIME You may opt to increase / reduce the credit limit of your Credit Facility at any time. Should you wish to do so, you must inform the bank in writing or contact call centre. The bank will confirm your new limit in writing and advise you of the date on which it will take effect. In the case of a request for a limit increase, an affordability test will be done. 16. YOUR SPOUSE MUST CONSENT TO THIS AGREEMENT IF YOU ARE MARRIED IN COMMUNITY If you are married in Community of Property your spouse must consent to your conclusion of this agreement by completing the bank’s consent form. Your failure to do so will result in the nullity of the Credit Agreement. 17. GENERAL CLAUSES      No amendment of any terms or conditions of your Credit Facility shall be of any force and effect unless reduced to writing and advised to you in writing by the bank. A certificate signed by any authorised employee of the bank (whose appointment or authority it shall not be necessary to prove) shall constitute prima facie evidence of the outstanding balance owing and/or due and payable by you to the bank and/or the rate of interest payable by you and/or any other amount owing and/or due and payable by you to the bank in terms hereof and/or any other matter arising from or related to your Credit Facility. You may not cede any rights or delegate any obligations in terms of your Credit Facility without the bank’s prior written consent. The bank may, at any time and without notice to you, cede, delegate or assign any of its rights or obligations in terms of this agreement. No relaxation or indulgence granted by the bank to you shall be deemed to be a waiver of any of the bank's rights in terms hereof, nor shall any such relaxation or indulgence be deemed to be a novation of any of the terms and conditions of your credit facility. This pre- agreement statement, accompanying quotation and terms and conditions of use, as amended from time to time in accordance with the provisions of the NCA, form the entire credit agreement between you and the bank. 18. YOUR DECLARATIONS By signing this agreement, you confirm the following:  That you have been given the choice of not receiving marketing information.  The information you gave the bank in respect of this quotation/ agreement is true, accurate and complete.  You are able to afford the repayments as set out in your quotation/ agreement.  You accept these terms and conditions and the quotation/ agreement and any debt protection cover.  From the date of the quote to acceptance of the quote, no further credit has been extended to you.  The bank has given you an opportunity to provide all relevant information of your income and expenses.  The bank discussed with you whether you can afford the credit extended in terms of this credit agreement.  You can afford the credit offered by the bank.  The features and benefits of the account/s or product/s have been explained to you.  The way in which the account works has been explained to you.  The fees and charges for opening and operating the account(s) have been explained to you.  You have not applied for debt counselling and do not have an administration order or an order for provisional or final sequestration against your estate.  You have read all the terms and conditions governing the product(s) and service(s) that you have applied for and agree to be bound by them.  You undertake to inform the bank of any change to your information.