Section 8 of the ANCA defines what a credit contract is and divides the definition into four categories. For the purposes of this question, a credit contract is an important contract when it comes to a mortgage contract. Does standard communication really have to reach the consumer to be effective? In Sebola/Standard Bank, the Constitutional Court held that, although the law does not have a clear meaning for „supply,“ it requires the credit provider to demonstrate the application of a credit contract and proves that the notification was sent to the consumer. When the creditor publishes the notification, the proof of the shipment registered to the consumer, accompanied by proof that the communication has reached the corresponding post office for delivery to the consumer, constitutes sufficient proof of the delivery (in the absence of contrary evidence). „Parties to an auxiliary credit contract are considered to have been concluded 20 business days later – the question then arises as to whether the guarantee or guarantee contract entered into by the lender and the guarantor or guarantor falls within the scope of the NCA. Section 82 (2) of the ANCA empowers the Minister, on the recommendation of the NCR, to adopt provisions for the assessment of affordability. These were introduced on March 13, 2015 and are included in Regulation 23A addressed to the NCA. The rules on assessing affordability set specific criteria to consider when assessing the financial situation of the consumer. For our purposes, it is important that Regulation 23A (2)a) development credit contracts be exempt from the application of the rules for assessing affordability. This appears to contradict the NCA`s s78, which does not provide for the same flat-rate exclusion for development loan contracts and explicitly excludes development credit contracts from the affordable price valuation for school or student loans, with the above-mentioned education loan subcategory being sub-categories of education loans under the definition of development credit contracts.
Affordable control is a process of assessing a credit provider with a consumer to determine whether or not loans are granted to the consumer.