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Section 3: Bank account details
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To: Bayport Financial Services 2010 (Proprietary) Limited ("the credit provider"), whose abbreviated name as registered with my bank is BAYPORTFIN or BAYPORT or NPBAYPORT.
This Authority and Mandate refers to our contract dated 29 July 2021("the Agreement")
I hereby authorised you, the credit provider and any of your successors-in-title or assigns, to issue and deliver payment instructions to your banker for collection against my abovementioned account at my abovementioned bank (or any other account, bank or branch to which I may transfer my account) on condition that the sum of such payment instructions will never exceed my obligations as agreed to in the Agreement, and commencing on 29 July 2021 and continuing until this Authority and Mandate is terminated by me by giving you notice in writing of not less 20 ordinary working days, and sent by prepaid registered post or delivered to your address indicated above.
The individual payment instructions so authorised to be issued must be issued and delivered as follows: monthly or weekly as the case may be on the day my salary is paid into my account.
Payment instructions due in December may be debited against my account on the 15th December or the day on which my Employer confirms that my salary will be paid to me in December, unless I send a written instruction to you by 5th December instructing you otherwise.
I understand that the withdrawals hereby authorised will be processed through a computerized system provided by the South African Banks and I also understand that details of each withdrawal will be printed on my bank statement or on an accompanying voucher. Such must contain the Agreement Reference Number set out above, which number must be included in the said payment instruction and if provided to you should enable you to identify the Agreement.
I acknowledge that all payment instructions issued by you shall be treated by my above-mentioned bank as if the instructions had been issued by me personally.
I agree that although this Authority and Mandate may be cancelled by me, such cancellation will not cancel the Agreement. I shall not be entitled to any refund of amounts which you have withdrawn while this authority was in force if such amounts were legally owing to you.
I acknowledge that this authority may be ceded or assigned to a third party if the Agreement is also ceded or assigned to that third party, but in the absence of such assignment of the Agreement, this Authority and Mandate cannot be assigned to any third party.