National Credit Act

The National Credit Act (NCA) establishes national norms and standards relating to consumer credit. In general, such norms and standards pertaining to, amongst others, responsible credit granting, the prohibition of unfair credit and credit marketing practices on the part of credit bureaus and/or credit providers, the provision of debt re-organisation in cases where consumers are over-indebted and the promotion of a consistent enforcement framework relating to consumer credit.

The NCA seeks to promote a fair and non-discriminatory marketplace and regulation to govern access to consumer credit. This includes improved standards of consumer information. Further, the NCA aims to promote black economic empowerment and ownership within the consumer credit industry.

Our advisory services

Our comprehensive range of services includes the preparation of compliant pre-agreement statements and quotations, credit agreements and guarantees, in accordance with the prescribed parameters of the NCA.

Our team has extensive experience in working with the NCA legislation and advises clients on the risks of non-compliance with the provisions of the NCA and consequential implications and penalties as well as the practical implications and impact of the NCA whilst bearing in mind the particular nature of the organisation. Advising clients during investigations by the National Credit Regulator (NCR) and/or the National Consumer Tribunal is a crucial aspect of our legal services.

Our advisory role regarding developments in the regulatory environment and providing ongoing support and training on various aspects of the NCA is crucial for keeping clients informed and ensuring compliance.