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TERMS AND CONDITIONS FOR USE OF THE WOOLWORTHS VISA CARD (final 24/4) As Cardholder, your use of the Woolworths Visa Credit Card voucher at the Bank and/or withdrawal effected by the shall be subject to the following terms and conditions which Cardholder at any ATM (Automated Teller Machine). you must read carefully. These terms and conditions constitute § "Merchant" means a seller of goods or services. a binding agreement between you and Up-Front Investments § "Purchase" means any purchase of goods or services 132 (Pty) Limited (“Up-Front”) and Mercantile Bank Limited using your Card, whether the purchase is made (the “Bank”). Up-Front will, in its sole and absolute discretion, telephonically, mechanically, electronically or otherwise. extend credit to you and determine your credit limit. Once Up- § “World of Difference Programme” means the Woolworths Front has granted you credit, the Bank will issue a Credit Card World of Difference Loyalty Programme. to you and your Card Account will be held with the Bank. The § “Up-Front” means Up-Front 132 (Pty) Limited which is a eight points below summarise the most important aspects of subsidiary of WFS and is the Woolworths Group this agreement: Company which extends credit to you in terms of the Woolworths Visa Credit Card Scheme. § “Woolworths” means Woolworths (Pty) Limited, the YOUR MAIN RIGHTS AND RESPONSIBILITIES operating entity of the Woolworths Group. § “The Woolworths Group” means Woolworths and its 1. The security of your Woolworths Visa Credit Card and PIN subsidiary and/or associated companies. (Personal Identification Number) is your responsibility – § “WFS” means Woolworths Financial Services (Pty) Ltd, sign your Card, keep it safe and keep your PIN secret. an authorized financial services provider, which acts as agent for and on behalf of Up-Front. 2. You will be able to use your Woolworths Visa Credit Card to purchase a wide range of goods and services and to get Cash Advances, but no-`one else may use your Card. WHO OWNS YOUR CARD? 3. Take care not to exceed the credit limit set for you by Up - The Bank remains the owner of the Card at all times and you Front and settle at least the minimum monthly payment must return it should the Bank request this. due on your Card Account. 4. Up-Front will charge interest on amounts HOW TO USE YOUR CARD outstanding/owing on your Card Account, and is allowed to debit that interest to your Card Account with the necessary Only you may use your Card: use it to make Purchases, get service charges. Cash Advances. You may also use automatic teller machines (ATM's) which accept the Card for the same types of transaction and for electronic funds transfers. 5. You must carefully check your monthly statement and § When you use the Card to buy goods and/or services, notify Up-Front of any queries within 60 days from the date you must sign a sales voucher (i.e. a transaction slip) if of the relevant statement. you are physically present at the Merchant's location. § You authorise the Bank to make payments to Merchants 6. You agree to open an account with the Bank. You must on your behalf. notify the Bank of any queries on your bank account within § A Merchant is not the Bank's agent and the Bank is not 60 days from the date of the relevant statement. All responsible if your Card is refused by a Merchant for queries may be directed to the WFS Call Centre at whatever reason. 086 150 2005. . § You can use your Card to get a Cash Advance from an ATM or from the Bank 7. You may, at any time by written notice to Up-Front require § If you use your Card to get a Cash Advance at the Bank, Up-Front to reduce the credit limit and stipulate a you must sign a cash withdrawal voucher maximum credit limit that you are prepared to accept. § By signing a sales or cash withdrawal voucher, you are confirming that the information contained in it is correct. 8. You may report the loss or theft of the card at telephone Not signing vouchers does not release you from your number 086 150 2005. You will not be held liable for the responsibility to pay (e.g. internet purchases, telephonic use of the credit card after you have reported the loss or transactions and ATM cash withdrawals). theft of the card unless your signature appears on the § If you use your Card outside the Common Monetary Area voucher, sales slip, or similar record evidencing that you must comply with exchange control regulations. particular use of the credit facility; or if Up -Front has other evidence sufficient to establish that you authorised or was MONTHLY STATEMENTS AND PAYMENTS responsible for that particular use of the card. § You will receive monthly statements reflecting transactions on your Card Account as well as credit DEFINITIONS balances, if any on your Bank Account for the period up to and including the date of the statements. You must ensure that at least the stipulated minimum payment due § "Bank" means Mercantile Bank limited. and payable to Up-Front is paid by the due date § "Bank Account" means the account opened, or to be indicated on your statement. opened, at the Bank by the Cardholder. § You can make payments at any Woolworths store or at § "Card" and "Credit Card" means the Woolworths Visa any branch of the Bank or Nedbank Limited or by means Credit Card issued by the Bank to you, pursuant to this of internet transfer or electronic funds transfer (EFT). agreement. § If you do not receive a statement, it is your responsibility § "Card Account" means the account of the Cardholder, to contact Up-Front to verify and pay the minimum managed by WFS for and on behalf of Up-Front and payment that you are required to make. processed by the Bank. § The statement will be provided in writing and posted to your address that you have chosen. § “Cash Advances” means monies advanced by a bank to the Cardholder by the completion of a cash withdrawal \\cd-7005686\TC\WOOLWORTHS TERMS AND CONDITIONS FOR USE OF THE WOOLWORTHS VISA CARD-RR WFS TERMS & CONDITIONS WOOL9070.17 2 Document last saved: 17/05/2007 09:57 AM § You must carefully check your monthly statements and § The debt counsellor shall determine whether you appear notify Up-Front of any queries within 60 days from the to be over-indebted and whether your credit agreement date of the relevant statement. appears to be reckless § Payments over and above the minimum payment may be § If the debt counsellor determines that you are not over- made. These payments will be allocated firstly to unpaid indebted, your application will be rejected and your interest charges, then to unpaid fees or charges and then obligations to Up-Front will continue; or to capital. § If the debt counsellor determines that you are not over- § You may settle the card account at any time. The indebted but that you have difficulty in paying your debts amount required to settle the account is the total of the punctually, the counsellor may recommend that we unpaid balance of the capital amount at the time and the together voluntarily consider and agree on a debt re- unpaid interest charges and all other fees and charges arrangement plan. payable by you to Up-Front up to the settlement date. § If the debt counsellor determines that you are over- indebted, then the debt counsellor may recommend to INTEREST AND OTHER CHARGES the magistrate's court to either declare one or more of your credit agreements reckless or that one or more of You pay interest on money owing on your Card Account to Up- your obligations be rearranged. Front. § Interest is charged if you fail to pay the outstanding § Once you have applied for a debt review you may not amount in full on the due date shown on your statement. use your credit card. The interest will be charged from the date of the transaction until it is fully paid up. § You will also be charged interest on any Cash Advances CONFIDENTIALITY & CREDIT BUREAUX received by you from the date on which the Cash Advance is made until the amount owing is paid. § Interest on credit balances standing to the credit of your You consent to Bank Account may be credited by the Bank to that Bank Account. § Up-Front and/or Woolworths (Pty) Ltd or any of its § Interest will accrue and be calculated on a daily basis, subsidiary companies or associate companies and will be compounded monthly. All interest rates are transmitting to any credit bureau any information about quoted as per annum rates and will be charged in your credit application, the opening and also the accordance with prevailing legislation. termination of your card account; § A monthly service fee at the maximum rate prescribed in terms of the Act will be levied at the end of the month to § Up-Front and/or Woolworths (Pty) Ltd or any of its which it relates and added to the outstanding balance. subsidiary companies or associate companies § Default administration charges will be levied against you transmitting to any credit bureau any information in respect of letters written to you as a result of your pertaining to your non-compliance or otherwise with the default at an amount equal to the amount of the cost of a terms and conditions of this agreement; registered letter of demand in terms of the Magistrate's Court Act, 1944 and reasonable delivery expenses incurred and added to the outstanding balance. § Any credit bureau providing Up-Front and/or Woolworths § You will be liable for collection costs incurred by Up -Front (Pty) Ltd or any of its subsidiary companies or associate in exercising its rights arising out of the breach of your companies with a report on your credit profile and a obligations in terms hereof. All attorneys and registered credit score on your credit worthiness for purposes of debt collectors' costs will be recovered from you on a affordability assessment, credit assessment and scale not exceeding the tariff prescribed by the prescribed purposes Magistrates Court Act 32 of 1944, the Attorneys Act 53 of 1979 or the Debt Collectors Act 114 of 1998. § You may contact the credit bureau to inspect its credit § Up-Front is also entitled to debit your Card Account with records concerning you. You may request the credit any amounts owing by you in respect of penalties bureau to correct its records should it reflect inaccurate permitted by law and taxes and duties payable to the information pertaining to you. Government. § The amount of such charges, fees and/or penalties will be determined by Up -Front and you will be advised of DEFAULT & BREACH these charges from time to time. The Bank will be entitled to levy its own charges in respect of the Bank In the event that you do not pay any amount on the due date, Account, which charges will be reflected on your monthly statement. Up-Front may enforce the agreement – if you have been in default for a period of 20 days; and OVER-INDEBTEDNESS § at least 10 days have expired since Up-Front gave you notice that you were in default and proposed that you You may at any time apply to a debt counsellor to be declared refer the agreement to – over-indebted unless Up-Front has already taken steps to enforce the agreement as a result of your default. The 1. a debt counsellor; or process to be followed by you is briefly: 2. alternative dispute resolution agent; or 3. consumer court; or Ombud with jurisdiction § Contact any debt counsellor and arrange for an appointment; § You have not responded to the notice, or rejected our proposals. § Fill out the prescribed form (which is obtainable from the debt counsellor) and pay the prescribed fee, if any; \\cd-7005686\TC\WOOLWORTHS TERMS AND CONDITIONS FOR USE OF THE WOOLWORTHS VISA CARD-RR WFS TERMS & CONDITIONS WOOL9070.17 3 Document last saved: 17/05/2007 09:57 AM You may also file a complaint with the National Credit the Bank will be liable for any damage suffered by you as Regulator or the Ombud, if you are of the view that the a result of the processing of any incorrect information National Credit Act has been contravened. furnished by you. § You may not vary this agreement. You may contact the National Credit Regulator on: § South African law will govern this agreement. § Tel: (011) 554 2600 or 0860 627 627; § fax: (011) 484 6122; § email: info@NCR.org.za AMENDMENTS TO THESE TERMS AND § Physical address: 127 15th Road, Randjespark, Midrand CONDITIONS § Subject to what is set out below and any applicable laws, CLOSURE OF ACCOUNT AND TERMINATION Up-Front may, in its sole and absolute discretion and at any time, amend these terms and conditions. Up -Front § You may terminate the card account at any time by will inform you of any amendments by sending you a paying the settlement amount to Up-Front. The amount notice of amendment or by sending you the amended required to settle the account is the total of the unpaid terms and conditions or by setting out the amendments balance of the capital amount at the time and the unpaid on your monthly statement. interest charges and all other fees and charges payable § The amendments will be effective from the date of the by you to Up-Front up to the settlement date. notice of amendment or of the amended terms and § You may terminate this agreement by sending Up-Front conditions or of the monthly statement setting out the a written request, signed by you, stating that you wish to amendments. close your Card Account. The request must be § The Bank with the prior consent of Up-Front (which accompanied with your Card, which must be cut into consent shall not be unreasonably withheld) will be pieces so as to prevent further use. Should you fail to entitled to amend the terms and conditions which are cut up your Card, you will be liable for any unauthorised applicable to the Bank Account on the same basis on use thereof. which Up-Front will amend its terms and conditions. § Up-Front may, subject to any applicable laws, suspend the credit facility or terminate this agreement and your SUBSTITUTION OF THE PARTIES right to use this Card will cease with effect from the date of such suspension or termination. § You hereby acknowledge and agree that Up-Front shall § The Bank will close your Bank Account if you or Up-Front be entitled, without restriction and in its sole and absolute terminates this agreement. discretion, but subject to 30-days notice to you, to: § When this agreement is terminated, your full § Replace the Bank with any bank registered as such in indebtedness (i.e. outstanding debt/balance owed) to Up - terms of the Banks Act 1990. In this event, the rights and Front in respect of the Card Account, will immediately obligations of the Bank in terms of this agreement will be become due and payable and you will be required to ceded and delegated to the substituted bank. return your Card to Up -Front. § If this agreement is terminated, the Bank will close your § replace Up-Front as credit provider with Woolworths (Pty) Bank Account. Any credit balance standing to the credit Limited or any subsidiary company or associate of your Bank Account after the Bank has deducted all company (present or future), provided that such replacement entity shall upon such replacement credit and any amounts that are due to it by you in terms of this provider acquire all of the rights and assume all of the agreement will be paid to you or transferred to another obligations of Up -Front in terms of this agreement. account stipulated by you. LEGAL NOTICES BALANCE PROTECTION Any address you give telephonically, in writing or otherwise, for all purposes, will be regarded as the legal address where notices can be delivered to you; • Should you require any form of credit life insurance other You may amend your address by delivering to Up -front a than that offered by Woolworths, you may substitute it written notice of the new address by hand, registered mail, or with a policy of your own choice. electronic mail or by notifying the WFS Call Centre on • You have the right to choose either to purchase a new 0861 502 005, policy or to cede an existing policy or to do a combination of both. Up-Front chooses the following address as its address for • If you wish to choose the Basic balance protection, legal notices – Comprehensive balance protection or Additional Death 1Mostert Street, Cape Town 8001 Cover underwritten by Metropolitan (the underwriter) and P O Box5553, Cape Town 8000. offered by WFS, further details are given below and you are requested to complete the application form in full The respective addresses chosen, is the place where all relating to Basic Balance Protection, Comprehensive documents, notices, legal letters and other legal processes Balance Protection or Additional Death Cover. may be sent or delivered and given effect. Notices sent by • If you have chosen Basic Balance Protection, registered mail will be deemed to have been received on the Comprehensive Balance Protection or Additional Death 4th day after the date of posting, unless otherwise provided. Cover, you confirm and understand that the benefits offered and monthly premium payable are subject to the GENERAL terms and conditions set out in the Policy Contract issued by the underwr iter. § You agree to the jurisdiction of the Magistrate's Court in • You confirm that the declaration of good health is true respect of any action arising out of these terms and and correct. A copy of the Policy Contract is available at conditions, even if the amount claimed exceeds the WFS on request. jurisdiction of the Magistrate's Court. The Bank and/or Up-Front may choose to bring any proceedings in the Refer to the terms and conditions as set out in the High Court. Policy Contract issued by the underwriter. § Neither Up-Front and/or Woolworths (Pty) Limited or any of its subsidiary companies or associate companies nor \\cd-7005686\TC\WOOLWORTHS TERMS AND CONDITIONS FOR USE OF THE WOOLWORTHS VISA CARD-RR WFS TERMS & CONDITIONS WOOL9070.17 4 Document last saved: 17/05/2007 09:57 AM In the event that the Life Insured is diagnosed with a dread disease the balance of the credit facility will be Policyholder: settled, provided the payments are up to date. Woolworths Financial Services (Proprietary) Limited 1 Mostert Street Cape Town PO Box 5553 8000 DESCRIPTION OF ADDITIONAL DEATH COVER Tel: 0861 50 20 05 POLICY Fax: (021) 407 9665 Email: Website: Additional Death Cover: email@example.com On the death of Life Insured R5000 shall be paid to the Underwriter: beneficiary of the policy and in the event of the Life Insured dying as a result of an accident, R10,000 shall be Metropolitan Life Limited paid to the nominated beneficiary of the policy. If no Parc du Cap beneficiary has been nominated, the benefit will be paid Mispel Road to the Estate. Bellville 7530 PO Box 2212 General notes applicable to Credit Life and Additional Bellville Death Cover Policies 7535 Tel: (021) 940 5911 Premiums: Fax: (021) 940 6464 Website: www.metropolitan.co.za The premiums due in terms of the respective policies are due and payable monthly, as indicated on the pre- Complaints can be addressed to: agreement statement and quotation. The Compliance Officer, Woolworths Tel: (021) 407 3937 Premium payment: DESCRIPTION OF CREDIT LIFE POLICY The premium due will appear on your statement and must Any WW customer who has been granted a credit facility be paid monthly. A claim may be rejected if WFS does can elect to become a Life Insured in terms of the Basic not receive the premium due from the Cardholder due to Balance Protection, or Comprehensive Balance the default of the Cardholder. Premiums may change Protection. Any WW customer who has elected Basic from time to time. The Cardholder will be informed by Balance Protection or Comprehensive Balance Protection Woolworths of any changes in premiums. can also apply for Additional Death Cover. Claims notification: Basic Balance Protection - Death, Retrenchment and Dread Disease Cover Claims may be submitted at any Woolworths store. On the death of the Life Assured the balance of the credit facility will be settled, provided the payments are up to Cancellation of policy: date. Should you wish to cancel the policy within 30 days of On the Retrenchment of the Life Insured 6 month’s inception, WFS will refund all premiums paid to date. instalment Retrenchment cover will be provided. The instalment is based on the outstanding balance at the WFS does not hold professional indemnity cover. date of retrenchment. In the event that the Life Insured is diagnosed with a WFS does not hold any shares in Metropolitan Life. dread disease the balance of the credit facility will be settled, provided the payments are up to date. WFS received more than 30% of its total remuneration from Metropolitan Life during the preceding 12 month Comprehensive Balance Protection - Death, period. Retrenchment, Dread Disease, Permanent and Temporary Disability Cover Fees: On the death or perman ent disability of the Life Insured • A marketing fee is payable to the underwriter in the balance of the credit facility will be settled, provided relation to the insurance policy as indicated on the the payments are up to date. pre-agreement statement and quotation. • Commission of 22.5% (plus VAT) of the Cost of On the Retrenchment of the Life Insured 6 month’s Insurance, as indicated on the pre-agreement, is instalment Retrenchment cover will be provided. The payable to WFS. instalment is based on the ou tstanding balance at the date of retrenchment. In the event that the Life Insured is temporarily disabled, up to 6 months instalment cover will be provided. The instalment is based on the outstanding balance at the date of the disablement.
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