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National credit act

in Grade 12 by
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Ways in which a Business can comply with the National Credit Act (NCA).

  • Business should register with the National Credit Regulator.
  • Submit an annual compliance report to the National Credit Regulator.
  • Obtain credit records/checks of clients before granting loans.
  • Conduct credit affordability assessments to ensure that clients are able to meet their obligations on time.
  • Offer applicants pre-agreement statements.
  • Disclose all costs of a loan/No hidden costs should be charged/added.
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