This signed Authority and Mandate refers to our contract as dated as on signature hereof (“the Agreement”). I / We hereby authorise you to issue and deliver payment instructions to the bank for collection against my / our abovementioned account at my / our above mentioned bank (or any other bank or branch to which I / We may transfer my / our account) on condition that the sum of such payment instructions will never exceed my / our obligations as agreed to in the Agreement, and commencing on the commencement date and continuing until this Authority and Mandate is terminated by me / us by giving you notice in writing of no less than 30 ordinary working days, in writing.
The individual payment instructions so authorised to be issued must be issued and delivered as follows:
On the abovementioned chosen day (“payment day”) of each and every month commencing on activation 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.
MANDATE:
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.
CANCELLATION
I / We agree that although this Authority and Mandate may be cancelled by me / us, by giving 30 days written notice.
