Loan Contract


The parties hereby agree as follows:

Appointment: I hereby appoint ShowTime Finance loans as my agent and loan originator to find a loan for me.

Submission of application: I hereby authorize ShowTime Finance to submit my written offer to lend money to a money lender who is registered with the National Credit Regulator. The originator may choose a lender (or lenders) to whom it will submit my offer from the list of lenders with whom the originator usually places offers for loans. The originator has invited me to read the list.

Application details: My details appear in the offer to take up a loan that I have signed.

Loan originator commission: .

Lender investigations: I understand that all the lenders that are approached by the originator will thoroughly investigate my offer to determine whether I can afford the loan that I require, and whether I can repay the loan. I undertake to supply any and all information and documents as requested by the originator. I promise that all information that I will give will be truthful and I indemnify the originator against any claim with regard to over indebtedness or reckless lending that may be made as a result of the loan.

Credit approval: If a lender accepts my offer, a loan agreement will be entered into between the lender and me on the terms of the pre-agreement statement and quotation that was given to me by the originator.

Marketing option: I authorise / do not authorise the originator to provide my personal particulars that are held by the originator to third parties for marketing, tracing and research purposes without any further notice to me.


I hereby offer to take up credit in the amount and on the repayment terms set out in the pre-agreement quotation and disclosure document attached hereto.
Any lender selected by the originator may accept this offer.
This offer may be accepted within seven days from the date of signature of the pre-agreement quotation and disclosure document.
If this offer is accepted, then a contract will exist between the lender who accepts my offer, and me.
The terms of the contract between the lender and me will consist of the contents of the pre-agreement quotation and disclosure document as well as the terms of this offer.
The contract will come into existence when and where the lender takes any step to inform me that it accepts my offer or when and where the lender credits my bank account, which I identify below, with the net amount of the credit indicated in the pre-agreement statement and disclosure document.
I will repay the amount of the loan, interest and costs reflected in pre-agreement statement and disclosure document in full to the lender into the bank account elected by the lender.
I undertake to obtain credit life insurance for an insured amount of not less than the total amount of my debt owing to the credit provider. I will obtain the insurance from African Unity Insurance Ltd or another company that I may appoint. The details of the insurance appear on the credit life disclosure and quotation document. I cede the proceeds of the policy to the lender who accepts this offer. The lender will cede the proceeds of the policy back to me after I had paid all amounts owing to the lender.
I record that I have instructed ShowTime Finance/bridge loans to present this offer to a lender and that I promised to pay the origination fee stated in the loan origination agreement to ShowTime Finance/bridge loans if my offer is accepted. Should this offer be accepted, I request the lender to deduct the amount of the fee of the ShowTime Finance/bridge loans from the total loan amount, and to pay the fee of ShowTime Finance/bridge loans directly to ShowTime Finance/bridge loans and to pay the balance of the loan amount into my bank account in Pretoria.
The attached affordability assessment is a questionnaire that I completed to enable any lender to whom this offer may be given to assess my ability to afford the credit that I seek. I promise to provide any lender who considers this offer with any further information that it may require in order for it to assess my financial affairs.

The following arrangements will form part of the contract between the lender and myself:

On acceptance of the offer the lender must disburse the credit amount as follows:
The lender is instructed to deduct from the loan the fee of the loan originator indicated below and pay the fee directly into the Loan Provider elected bank account in Pretoria;
the balance of the loan must be paid in full or in instalments into my bank account or into the bank account of the third party mentioned below or the attached disbursement schedule:


Payments shall be made monthly on the first day of the month/every 2nd week/once a week in cash at the offices of the credit provider or to the elected representative of the credit provider or by debit order or other accepted payment method in favor of the Credit Provider to be presented on or close to the client’s pay date or by any other electronic payment method on or close to the client’s pay date.

d. The credit provider or the elected representative of the credit provider may, subject to the loan pay-out date, decide to move the date of first payment to a later date. The selected date will be considered to be date of first payment
e. I promise to repay the lender by instructing my bank to pay the amounts that I will owe to the lender when they fall due by deducting the amounts from my bank account and paying them over to the lender. My instruction to my bank appears from the debit/stop order called “Electronic Payment Instruction” that is attached to this offer.
f. I promise to pay interest, fees and costs as set out in the pre-agreement disclosure and quotation attached hereto. The repayment of interest may be subject to variations of the repo rate as set by the Reserve Bank and other factors as set out in the National Credit Act. Interest, fees and costs shall be calculated monthly in arrears on the outstanding balance and added to the outstanding loan amount on the dates that payments are made or should have been made.
g. Upon request, the lender must provide me access to statements reflecting the amount outstanding and the amount in the respect of the next payment. These statements can be obtained through the following sources:

i. Request at any ShowTime Finance or Bridge Branch

ii. E-mailed upon request

iii. Faxed upon request
h. will be entitled to settle the full amount of the loan outstanding at any time and to cancel this agreement without having to provide any notification, but I understand that I will be liable for any balance of the loan until I have paid the last outstanding amount.
i. If I do not make a repayment as scheduled or as I promise to make in this offer, the full amount outstanding plus all interest will immediately become payable. The lender may give me notice to repay the total amount. The lender may also cancel the agreement and if the lender chooses to claim full payment, the lender must notify me of my failure to pay and must grant me ten days to cure my failure to pay. If I do no bring my payments up to date within that period, the lender may institute legal action against me without contacting me again.
j. I will pay default administration costs at the maximum rate allowed by the National Credit Act if I am in default of any payment or part thereof and a notice of default was sent to me by the lender.
k. If I do not make the payments that I undertake to make in this offer, the lender will be entitled to claim the full costs that the lender will incur in collecting my debt up to the amount allowed by law. If the lender chooses to sue me in a court of law, I will pay all the lender’s costs, known as attorney and client costs.
l. An officer of the lender or an agent of the lender may sign a certificate that will reflect the amount outstanding and that I owe to the lender. The certificate will be sufficient proof of the amount that I owe to the lender. The officer’s appointment and authority do not have to be proved by the lender.


1. Summary:
Client Initial
Credit advanced: R 2,456.00
Instalment, including Interest, fees, credit life insurance, excluding optional insurance: R 660.00

Deposit, to be paid & deducted: None
Number of instalments: 6

Instalments payable: R 660.00
Total all instalments, including interest, fees & credit life insurance R 3,960.00

Initiation fee, charged up front: R 336.98
Annual interest rate: 30.00%
Monthly Interest rate:2.5%

Monthly service fee, included in instalment: R 57.00
Credit life insurance, included in instalment: R 52.32

2. Payment to client’s agent:

The credit provider is instructed to deduct and pay the agent commission from the credit advanced directly to the client’s agent.
Client Initial
Agents name and particulars: ShowTime Finance/ Bridge Loans

Amount of agent’s commission: 456.00

4. Quotation validity:
Client Initial
Date of Quote: 2012-10-01

Date when Quote lapses: 2012-10-08


I, the undersigned, hereby accept this quote.

This done at Bellville, in the presence of the undersigned witness, on 1 October 2012.


This done at Pretoria, in the presence of the undersigned witness, on ______________________________ 201 ____

Signature of the Credit Provider

m. I choose the address set out in paragraph (e) above as the address where I will accept all notices, letters or other documents sent to me by the lender. The lender may serve legal proceedings at the physical address that I gave in paragraph (d) above. I may change the address by giving written notice to the credit provider and delivering the notice by hand, post or e-mail to the lender at the above address.
n. The address where the lender will receive all notice, letters or other correspondence from me appears in paragraph 11(a) above. The lender may change its address by giving me notice and delivering the notice by hand, post or e-mail at the address referred to above.
o. Once this agreement is accepted it can only be amended in writing and both the lender must sign the amendment before it will be effective.
p. Marketing option: If the answer to the following question is no, the client authorises the credit provider to provide any personal particulars held by the credit provider to third parties for the purpose of marketing, tracing and research without any further notice to the client:
Tick yes or no
Do you wish to be excluded from any telemarketing, sms, or mass email campaigns No Yes
Do You object to the use of your information for tracing and/or research campaigns No Yes

q. Disclosure of personal information: The client hereby authorises the credit provider to disclose any of the particulars provided in concluding this agreement for the purposes of credit assessment and credit reporting and authorises the credit provider to obtain credit reports from credit bureaux or any of the client’s creditors. The client hereby authorise the credit provider to consider any other information it deems necessary in providing this credit.

End of Example