The individual payment instructions so authorised to be issued must be issued and delivered as
i. On the first day ("payment day") of each and every month commencing on the agreed date.
In the event that the payment day falls on a Saturday, Sunday or recognized South African public
holiday, the payment day will automatically be the very next ordinary business day. Further, if there
are insufficient funds in the nominated account to meet the obligation, you are entitled to track my
account and re-present the instruction for payment as soon as sufficient funds are available in my
ii. Monthly; on or after the dates when the obligation in terms of the Agreement is due and the
amount of each individual payment instruction may not be more or less that the obligation due;
I / We 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. Each transaction will contain a number, which must be
included in the said payment instruction and if provided to you should enable you to identify the
Agreement. A payment reference is added to this form before the issuing of any payment
instruction. I / We shall not be entitled to any refund of amounts which you have withdrawn while this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 / We acknowledge that all payment instructions issued by you shall be treated by my/our above
mentioned bank as if the instructions had been issued by me/us personally.
I / We agree that although this Authority and Mandate may be cancelled by me / us, such
cancellation will not cancel the Agreement. I / We 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which you have withdrawn while this authority was in force, if such amounts were legally owing to