CROW CIVILS TA by monkey6

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									CROW CIVILS T/A




                                         CROW        CIVILS & PLANT HIRE
                                                           Reg. No. CK 92/17430/23
                                                            VAT No. 4630134536
 HEAD OFFICE:P.O. Box 135 15 First street Naboomspruit 0560 (014) 743 0391 (014) 743 1407 E-mail Crowcivils@mweb.co.za
      PRETORIA Plot 524/91 Sakabuka Derdepoort 37 Kreefsingel Montana 0182 012 548 7752 E-mail Crowcivils@hotmail.com




                                             CESSION
By:     Kwanameetse Merchants Trading
        Reg No. 2003/023711/23
        P.O. Box 2680
        Modimolle
        0510
and including: Mookgophong Municipality

("The Company")

In favour of: CROW CIVILS CC Trading as
              Crow Civils & Plant Hire
              15 First Street
              Mookgophong (Naboomspruit)
              0560
("The Creditor")

1 INTRODUCTION
The Company is and/or will become indebted to the Creditor arising out of moneys lent and advanced
by the Creditor to the Company.
1.1 The Creditor requires security for the repayment by the Company of its indebtedness to the Creditor.
1.2 Pursuant thereto, the Company has agreed to cede to the Creditor the Company's claims against it's
debtors.

IT IS AGREED THAT:
2 The Company hereby cedes, assigns and transfers unto and in favour of the Creditor all of the
Company's right, title and interest in and to all book debts and other debts (together
with all rights of action arising there under) present and future, due and to become due to the Company,
from whatsoever cause of debt arising and by whomsoever owing.
3 This Cession shall endure for so long as the Company is indebted to the Creditor from any cause
arising whatsoever.
4 The Company agrees that the security afforded hereby shall not be in substitution of but shall be in
addition to and without prejudice to any other security which the Creditor may now or in the future hold.
5 The Company undertakes, whenever called upon by the Creditor to do so, from time to time to furnish
the Creditor with a statement, certified by the Company's auditors, setting out in detail the total amount
of the said debts together with the names and addresses of the debtors and the amount owing by each
debtor. The Creditor shall further have the right through either its proper officers or duly appointed
agents at all reasonable times to inspect all the Company's relevant records.
6 Subject to the provisions of clause 7, from the date hereof all sums of money which the Company
collects from its debtors shall be collected and received by the Company as agent for and on behalf of
the Creditor, and shall, if so required by the



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Creditor, be deposited in such banking account in the name of the Creditor as the Creditor may from
time to time specify, over which the Creditor shall have sole control.
7 The Creditor shall be entitled at any time upon written notice to the Company to terminate the
Company's mandate to collect all or any such sums of money and with effect from the termination of
such mandate the Company will cease to collect or accept any payments on account of the debts in
respect of which the mandate will have been terminated.
8 The Creditor shall be entitled, and is hereby specifically authorized and empowered by the Company,
to make such entries and endorsements in the Company's records, accounts and books at any time to
record this cession, and at any time to take possession of the Company's records, accounts and books,
and the Company further agrees to produce such records, accounts and books to the Creditor or in any
Court of law when called upon by the Creditor to do so.
9 Upon the Company becoming possessed of any document or instrument of debt evidencing any claim
in its favour against any of its debtors, or the Company receiving any negotiable instrument for any debt
owing to it, the Company will forthwith deliver such document, instrument of debt or negotiable
instrument, as the case may be, to the Creditor in such manner and form as to constitute the Creditor,
or its order, the possessor or holder thereof and the Creditor shall thereupon be vested as pledge in
terms of this cession with all the right, title and interest therein and thereto provided that any failure or
omission on the Company's part to comply with any of the provisions of this clause shall not affect any
of the Creditor's rights under this cession.
10 The Company agrees that if, after due demand, the Company shall have failed to pay to the Creditor
any amount lawfully owed by it to the Creditor, then the Creditor shall be entitled at any time or times
hereafter to give notice of this cession to all or any of the Company's debtors and to take such steps as
the Creditor may deem fit to recover the amounts respectively owing by such debtors from time to time;
provided that should the Creditor at any time collect from the Company's debtors in all an amount which,
after taking into account all the costs and expenses incurred by the Creditor on the scale as between
attorney and client in connection with the recovery or attempted recovery of debts covered by the said
cession, will exceed the full amount of the Company's indebtedness to the Creditor for the time being,
the Creditor shall be obliged to refund such excess to the Company without affecting the force
and continuity of this cession as security for any indebtedness subsequently arising in favour of the
Creditor.
11 The Company hereby nominates, constitutes and appoints the Creditor as its true and lawful attorney
and agent irrevocably and in rem suam, with power of substitution, to exercise all the rights of action
and powers and rights accruing to the Company for the purpose of calling up and collecting all the
said debts (the right to collect which shall vest in the Creditor on the signing hereof) and to institute
whatsoever legal proceedings the Creditor may consider necessary and to prove any claim in any
insolvent estate, and generally to do all things that may be requisite and necessary just as if the
Company were acting therein, and in particular, to recover all money and rights due to the Company in
respect of the said debts and to grant valid receipts and acquaintances therefore in the Company's
name, provided, however, that it shall always be lawful for the Creditor either before, during or after the
collection of the said debts to sue the Company for the recovery of all moneys due by the Company to
the Creditor, and to obtain judgment against the Company and to attach any other of the Company's
property and to sell it in execution and satisfaction of the judgment.
12 The Company shall be liable to and shall reimburse the Creditor for all costs, including attorney and
client costs, incurred by the Creditor in the collection of any such debts, and does further hereby
absolve and hold the Creditor blameless for any loss or damage sustained in or by reason of the
collection of the said debts, or the Creditor's failure or omission (whether negligent or otherwise) to
collect any of the said debts.
13 The Company agrees and declares that a certificate purporting to be signed by any director or officer
of the Creditor (whose appointment, qualification and authority it shall not be necessary to prove)
showing the amount of the Company's indebtedness (due and payable or otherwise) from time to time
to the Creditor, any interest due or accrued and/or the proceeds of any sale, assignment, transfer,
collection, recovery, realization or disposal of the said debts shall be prima facie evidence of the
correctness of the matter contained in such certificate for all purposes including for the purposes
of obtaining provisional sentence, summary judgment or judgments against the Company.
14 The Company hereby consents in terms of Section 45 of the Magistrate's Court Act, 1944 (as
amended), to the Creditor taking any legal proceedings for the recovery of any moneys owing by the
Company in terms of this cession or otherwise, in any Magistrate's Court of any district having
jurisdiction over the Company, notwithstanding that the amount claimed might exceed the jurisdiction of
such court in respect of the cause or causes of action. The Creditor shall, however, in its sole
and absolute discretion, be entitled to take such proceedings in any other court of competent
jurisdiction, and the Company hereby agrees to and submits to the jurisdiction of the Witwatersrand
Local Division of the Supreme Court of the Republic of South Africa in any matter arising from or related



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to this cession.
15 The Company records that there are no conditions precedent suspending the operation of this
cession.
16 This cession is in addition to and supplements any other securities or guarantees which may already
have been granted or may in the future be granted by the Company or by any other person or persons
in respect of the Company's indebtedness to the Creditor, and this cession shall not derogate from the
validity or operation of any such other securities or guarantees.
17 The Company hereby chooses domicilium citandi et executandi for all purposes arising out of these
presents at:P.O. Box 2680, Modimolle, 0510
Any notice to be given to the Company in terms hereof shall be deemed given upon delivery to the
Company at the above address of such notice or, if posted by registered post to the Company
at the above address, then such notice shall be deemed delivered on the fourth day after such posting,
including the date of posting.
18 No variation in the terms and conditions of this document shall be of any force or effect unless and
until the Creditor has agreed to the specific terms of such variation in writing over the signature of a
director of the Creditor.
19 The Company records and agrees that no waiver or relaxation on the part of the Creditor of any of
the Creditor's rights hereunder and no leniency, extension of time or release which may be granted by it
to the Company in respect of any of the Company's obligations to the Creditor and no failure or
omission on the part of the Creditor to enforce any of the terms or conditions of this cession against the
Company, shall in any way affect the validity or force of this cession, which shall nevertheless continue
in full force and of full effect.

THUS DONE AND SIGNED BY THE RESPECTIVE PARTIES AS FOLLOWS:


______________________________________________
For:(CROW CIVILS CC)
duly authorized
Date:
Place:


______________________________________________
For:(Kwanameetse Merchants Trading)
duly authorized
Date:
Place:


______________________________________________
For:(Mookgophong Municipality)
duly authorized
Date:
Place:



______________________________________________
For:(Refihlile Civil Engineers)
duly authorized
Date:
Place:




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