Terms and Conditions of Finance Application

These terms and conditions explain how Redtree Capital processes finance applications, conducts credit assessments, verifies information, and protects personal information in accordance with applicable South African legislation, including FICA and POPIA.

Credit Bureau Consent

  1. By accepting the terms and conditions contained herein, you consent and agree that Redtree Capital (Pty) Ltd ("Redtree") or their cessionary/ies shall be permitted to make all necessary enquiries into your credit history with any credit reference agency or with any third party to confirm the details provided by you to Redtree. On acceptance of the terms and conditions hereof, you indemnify and hold Redtree and their cessionary/ies harmless against any claim that may be made against Redtree or their cessionary/ies by virtue of this consent.
  2. You unequivocally authorise Redtree or its cessionary/ies to contact and request information from any persons, credit bureaus or businesses, including those mentioned in this application form from time to time, and to obtain any information relevant to your credit assessment including, but not limited to, information regarding your financial statements, bank statements, credit score, defaults and late payments on any accounts, adverse judgments and/or attachments listed against you and whether or not you have applied or are at risk of applying for debt review, sequestration or administration or being a juristic person for business rescue or liquidation whether voluntary or not.
  3. By acceptance of the terms and conditions hereof, you confirm and declare, in the event that you are applying on behalf of a juristic entity or trust, that you are duly authorised and that you hold the necessary authority to represent and bind the Company, Close Corporation, Association or Trust toward Redtree and you hereby indemnify Redtree against any loss or damage suffered as a result of you not being duly authorised.
  4. You confirm that you understand that Redtree relies on the information submitted herewith, and that the information supplied herein together with any supporting documents, is to be used by Redtree for the purpose of assessing your credit worthiness, liquidity, and financial circumstances. You further confirm that the information provided is accurate, complete and reflects your current financial position or that of the entity you are representing. You further agree that the information supplied shall, as and when necessary, be updated to ensure and maintain the accuracy of such information. Redtree shall not be responsible for any inaccuracies or misrepresentation.
  5. In the event of your application being successful, you agree that you will advise Redtree immediately of any change or deterioration to your financial circumstances or that of the entity you are representing.
  6. You agree that any information given in confidence to Redtree by any third party or credit agency in respect of your credit or trade history will not be disclosed to you but shall be treated as confidential and used for purposes of assessing your application.
  7. You consent to and authorise Redtree to furnish the personal and credit information pertaining to you or the entity you are representing to any credit bureau or third party seeking a trade or credit reference regarding your dealings with Redtree.
  8. Should your application be refused, such decision by Redtree or its cessionary/ies shall be final. Redtree reserves its rights to accept or reject your application at their sole discretion.
  9. You further accept and authorise Redtree at their sole discretion to list the personal information supplied herein with any relevant credit bureau or listing agency to the extent that you or the entity making such application have fallen into default of any obligations towards Redtree pursuant to such application.

Electronic Signatures and Digital Acceptance of Conditions

  1. You acknowledge that Redtree aims to operate in a paperless environment and that this application shall be completed electronically as far as reasonably possible. Accordingly, you accept that if the terms and conditions contained herein have been accepted with an electronic signature, mark, or digital acceptance, then the parties hereto consent and agree to the use of such electronic signature pursuant to the Electronic Communications and Transactions Act 25 of 2002 ("ECTA"), as amended or re-enacted from time to time.
  2. You acknowledge and agree that acceptance hereof may be executed by an electronic signature, which signature shall serve as verification of the parties' identity and their intention to sign and accept the document. The electronic signature shall be considered as an original signature for all purposes and shall have the same force and effect as an original signature. Without limitation, "electronic signature" as defined in Section 1 of the ECTA shall include electronically scanned and transmitted versions of an original signature which was intended by the user to serve as a signature.
  3. You acknowledge and agree that Redtree is authorised to rely upon and accept as an original any document or other communication which is provided to Redtree by electronic transmission (each, a "communication") and which Redtree in good faith believes has been duly signed and accepted and has been delivered to Redtree. Notwithstanding the aforegoing, Redtree shall not be obliged to accept any such communication as an original and may as a result of any law or in any instance and at their sole discretion require that an original document be submitted in lieu of, or in addition to, any such communication.

Financial Intelligence Centre Act (FICA)

  1. You acknowledge that Redtree is obliged and required as an accountable institution to make necessary enquiries and seek information as required by the Financial Intelligence Centre Act No 38 of 2001 ("FICA"). You therefore consent to Redtree conducting identity and fraud prevention checks and sharing information relating to this application through the South African Fraud Prevention Service and to report any suspicious transactions.
  2. All information collected will be processed and used in terms of FICA.

Protection of Personal Information

  1. In terms of the Protection of Personal Information Act 4 of 2013 ("POPIA") Redtree and/or its Cessionary/ies are obliged to obtain the necessary consent to process all personal information as defined within POPIA ("the personal information").
  2. In the event that you are applying on behalf of a juristic entity or trust, you declare that you are duly authorised and that you hold the necessary authority to supply the necessary information of the Company, Close Corporation, Association or Trust and you hereby indemnify Redtree against any loss or damage suffered as a result of you not being duly authorised.
  3. Accordingly, you expressly consent and agree, insofar as it may be necessary, that Redtree and/or its Cessionary/ies may:
    1. Make enquiries of whatever nature with any third party, including but not limited to credit bureaus, Companies and Intellectual Property Commission (CIPC) and other public information platforms to confirm and verify any personal information received from you or the entity you are representing, its affiliates and/or related companies and subsidiaries where relevant and to conduct the necessary credit vetting and/or trade referencing;
    2. Collect and process such personal information for purposes of considering this application and entering into any further agreements with either you or the entity you are making application on behalf of;
    3. Process and disclose the personal information for the purposes of conducting all necessary actions for the conclusion or performance of a contract or facility to be granted to you or the entity you are representing;
    4. Make necessary enquiries and report any information in the prevention, protection and reporting of fraud and criminal activities including money laundering activities;
    5. Collect, process, and report any information in compliance with any legal obligation;
    6. Process and submit information to any person providing services to or requiring services from, a representative, agent, or supplier of Redtree and/or its cessionary/ies;
    7. Retain and utilise the personal information for credit record and scoring purposes as well as any marketing to and business opportunities with related entities of Redtree and/or its cessionary/ies.
  4. You declare that in the event that you are acting for a juristic entity or trust that all of the entities directors/members/partners/trustees, affiliates and/or subsidiaries and related companies etc. have given written consent for Redtree and/or its cessionary/ies to obtain necessary credit information and make enquiries into their credit profiles and trade history for purposes of this application and the resultant agreement.

Certificate

  1. You hereby certify that the information supplied herewith is correct and you further declare that you are not aware of any matters or circumstances which have not been disclosed to Redtree which might influence its consideration of this application.
  2. You certify that there are no writs, summonses, judgements, petitions, winding up orders or pending applications for liquidation or threatened against you, the entity you are representing or its directors, members, partners, or trustees.
  3. You warrant that the Annual Turnover and/or Net Asset Value of the applicant as stated herein is true and correct and you acknowledge that Redtree has relied on such warranty in determining the legal framework of any facility granted to you or agreement entered into with you.