Common use of Collections costs Clause in Contracts

Collections costs. If you default under the terms of your credit agreement, we are entitled to collections costs as follows: • for a Default notice, the amount prescribed under the NCA; • for work undertaken for us by registered debt collectors to recover your debt, amounts prescribed under the Debt Collectors Act 114 of 1998; or • for enforcement action to recover your debt, amounts prescribed under the Magistrates’ Courts Act 32 of 1944 or the Superior Courts Act 10 of 2013. You agree that we are also entitled to recover from you the fees and commissions that attorneys charge us on an attorney/client basis: • for collections work as prescribed under the Legal Practice Act 28 of 2014; and • for legal proceedings to recover your debt, as determined by the court, if not agreed. You agree that we may debit the collections costs, fees and commissions to the bank or credit agreement account on which the relevant default has arisen and that the costs will be added to and form part of the outstanding balance. The collections costs described in this paragraph are referred to as “Costs” in our credit agreements.

Collections costs. If you default under the terms of your credit agreement, agreement we are entitled to collections costs as follows: • for a Default notice, Notice the amount prescribed under the NCA; • for work undertaken for us by registered debt collectors to recover your debt, amounts prescribed under the Debt Collectors Act 114 of 1998; or • for enforcement action to recover your debt, amounts prescribed under the Magistrates’ Magistrates Courts Act 32 of 1944 or the Superior Courts Act 10 of 2013. You agree that we are also entitled to recover from you the fees and commissions that attorneys charge us on an the attorney/client basis: • for collections work as prescribed under the Legal Practice Attorneys Act 28 53 of 20141979; and • for legal proceedings to recover your debt, as determined by the court, court if not agreed. You agree that we may debit the collections costs, fees and commissions to the bank or credit agreement card account on upon which the relevant default has arisen arisen, and that the costs will be added to and form part of the outstanding balance. The collections costs described in this paragraph are referred to as “Costs” ‘costs’ in our credit agreements.