Welcome on this learning programme!

This online course provides a comprehensive understanding of credit agreements within the framework of the National Credit Act (No. 34 of 2005) (NCA). It covers various aspects including types of credit transactions, protection of juristic persons, lawful and unlawful credit agreements, and obligations of both credit providers and consumers. Specifically, the course delves into the impact of debt review on credit agreements, exploring the re-arrangement of consumer credit obligations. Furthermore, it examines the institutions established under the NCA. Upon completion, learners will have a solid grasp of the legal framework governing credit agreements and the responsibilities involved, equipping them to navigate credit transactions effectively.

What you will learn:

At the end of this course, the learner should be able to:

• Define consumer, credit provider, credit agreement, credit transaction, credit guarantee, and credit bureau.
• Differentiate between types of credit transactions.
• Explain when juristic persons are protected under the National Credit Act 34 of 2005 (NCA).
• List non-regulated credit agreements under the NCA.
• Distinguish small, intermediate, and large credit agreements.
• Identify unlawful credit agreements and provisions.
• List credit provider rights and duties briefly.
• Discuss "reckless credit" and its effects.
• Detail consumer rights.
• Discuss debt review and obligation re-arrangement.
• Explain cooling-off rights.
• Discuss early settlement and goods surrender rights.
• Explain consumer duties briefly.
• Name various consumer credit institutions under the NCA.
• Explain roles and functions of credit institutions.
• Detail recoverable items for credit providers.
• Discuss consumer credit dispute settlement under the NCA.
• Explain credit provider rights enforcement in case of contract breach.
• Apply principles to advise on given facts.

Course Content:

• Key terms and definitions
• Application
• Terminology
• Small, medium and large credit agreements
• Unlawful credit agreements and provisions
• Consumer's duties
• Consumer's rights
• Debt review
• Credit provider's rights
• Reckless credit
• Miscellaneous
• Credit Institutions (NCR and NCT)

Note: The course content is extracted from the e-course book titled “Commercial Law in Focus” published by Edge Learning Media, ISBN 978-1-77612-373-5.

Who Should Attend:

• Any individual that works within the credit and financial services industry that needs to understand credit agreements.

Entry Requirements:

There are no entry requirements for this course.

Course Structure:

This course is only available in an online learning format. The course includes learning activities, videos and quizzes.

Assessments:

Learners will need to complete the online quiz for this course.

Accreditation:

This course is not accredited.

Certification:

 A Certificate of Successful Completion will be issued upon completion of the course.

Duration:

4 weeks