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Terms and Conditions

The following terms and conditions serve as a representative example of the final agreement that will be entered into upon sign up and acceptance.

A completed copy of these terms will be emailed to the client entering into the agreement and Duvesco Holdings (Pty) Ltd.

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Parties

  • This agreement is between Duvesco Holdings (Pty) Ltd ("the Company") and the Client (the company name provided on sign-up).
  • The Client, legally represented by the representative name and/or the name and surname provided during sign up, agrees to these terms.

Debt Purchase

The Company agrees to purchase the outstanding debtors of the Client, as handed over by the Client from time to time (referred to as "the debt").

Transfer of Rights

Upon handing over the debt, the Client cedes all rights, title, and interest in the debt to the Company.

Purchase Price & Discount Rates

The purchase price is based on the portion successfully collected by the Company, calculated using the following discount rate:

  • 15% (excl. VAT) for debt aged less than 120 days
  • 25% (excl. VAT) for debt aged more than 120 days

The Company will allocate a minimum of 50% of any instalments received towards the settlement of the purchase price, until fully paid.

Client Cooperation in Debt Collection

The Client agrees to cooperate in ensuring all debt payments are made directly to the Company. If any payments are received by the Client, they must inform the Company immediately.

The Client will not accept full or partial payment, or propose any discounted settlements, without consulting the Company.

Company Rights

The Company reserves the right to:

  • Collect necessary expenses from the debtor as allowed by law
  • Charge contractual interest or interest a tempore morae
  • List debtor information at credit bureaus
  • Initiate legal action at its sole discretion

Recovery of Costs

If the Client's actions or omissions result in the costs, interest, or commission becoming irrecoverable, the Company reserves the right to recover these amounts from the Client.

Withdrawal of Debt

The Client may withdraw any debt that has been with the Company for 6 months or more, provided there has been no collection success.

Early Withdrawal

If the Client insists on withdrawing debt (other than allowed under clause 8), it is at the Company's sole discretion. The Client will be liable for any recovery expenses and a fee of 25% (excl. VAT) of the withdrawn capital amount.

Cancellation of Cession

The Company may, at its discretion, cancel the cession of any debt. In this case, no further claims can be made by either party.

Amendments and Cancellations

Any changes or cancellations to this agreement must be in writing and agreed upon by both parties.

Dispute Resolution

In case of a dispute, the successful party is entitled to recover legal costs on a full indemnity basis, including collection and tracing costs.

Personal Information Processing

The Client consents to the processing of personal information in compliance with the Protection of Personal Information Act (POPIA), including sharing with third parties. The Company will handle all debtor information confidentially and in compliance with relevant legislation.

Domicilia Citandi et Executandi

The following addresses are chosen as the domicilia citandi et executandi for all purposes under this agreement:

  • The Company: Unit 6, 19 Pasita Street, Rosendal, Durbanville 7550
  • The Client: The address provided during sign-up