The loan amount is subject to interest being charged is subject to the product pricing.

Should the borrower fail to pay any amount on the due date, the interest that accrues on the full outstanding amount will be capitalized and interest will be charged on the total amount then outstanding.

The borrower hereby agrees that:

• He/she shall be lawfully indebted to Premier Credit Ltd for the payment of the total contractual amount.
• The full contractual amount is repayable in equal monthly or weekly instalments.
• For check-off loans notwithstanding, the deductions from the salary of the Borrower, it shall remain the sole responsibility of the Borrower to see to it that payments are effected timeously.
• Repayments will be used, firstly to pay legal costs (if any), the additional interest if any, then the total cost of credit, and thereafter to reduce the balance of the outstanding amount, which was originally advanced to the Borrower.

Premier Credit Ltd entitled (but not obliged) to demand payment of the total amount outstanding in terms of this agreement at any time if the Borrower fails, or neglects to strictly observe, any of the terms and conditions of this agreement, or in any other way commits a breach of agreement contract or assigns his/her estate in favor of his/her creditors, or comprised with any creditor, or the Borrower’s estate is sequestrated or wound up, or the Borrower has made a false representation at the time of applying for the loan in terms of this agreement.

If the Borrower fails to make any payment on the due date or fails to discharge any of its obligations in terms of this agreement and Premier Credit Ltd takes no action against him/her, this shall not mean that Premier Credit Ltd has given up the right to take legal action.

This agreement shall be the only agreement between the parties in respect of the loan. Any amendment thereof must be in writing and signed by both parties.