CREDIT TERMS & CONDITIONS

I and D Technology Solutions CC

  1. Granting of Credit

Credit facilities are granted at the sole discretion of I and D Technology Solutions CC (“the Creditor”) and may be withdrawn, amended, or suspended at any time without prior notice. Approval of credit does not constitute a waiver of the Creditor’s right to require advance payment, security, or guarantees at any stage.

 

  1. Billing, Invoicing & Liability

All goods and/or services are billed to the contracting party as reflected on the invoice issued by I and D Technology Solutions CC.

Any request to amend billing details shall apply to future transactions only and shall not affect liability for any amounts already incurred. All charges incurred prior to any such change remain payable by the original contracting party.

Where services or goods are supplied to a natural person, such person shall remain personally liable for all charges incurred. Where services or goods are supplied to a juristic person, the authorised representative warrants that they have the authority to bind the entity.

 

  1. Payment Terms

Unless otherwise agreed in writing:

  • Invoices are issued during the course of the month
  • Payment is due and payable in full by the last business day of the month in which the invoice is issued, irrespective of the invoice date
  • Payment shall be made without set-off, deduction, or counterclaim
  • Proof of payment shall not constitute settlement until funds have cleared into the Creditor’s bank account

 

  1. Late Payment & Interest

Any amount not paid by the due date shall be deemed overdue.

The Creditor reserves the right to charge interest on overdue amounts at:

  • 2% per month, calculated daily and compounded monthly, or
  • The maximum rate permitted by law, whichever is lower.

Interest shall accrue from the due date until the date of final settlement, both before and after judgment.

 

  1. Credit Limits & Review

The Creditor may impose a credit limit at its discretion.
Once a credit limit is reached, I and D Technology Solutions CC may:

  • Suspend further services or deliveries, or
  • Require immediate payment or advance payment for continued supply.

All credit facilities are subject to ongoing review and may be amended or withdrawn without notice based on payment behaviour or risk assessment.

 

  1. Default

The debtor shall be deemed to be in default if:

  • Payment is not made by the due date
  • The debtor commits an act of insolvency
  • The debtor is placed under business rescue, liquidation, or sequestration
  • The debtor breaches any term of these Credit Terms & Conditions

Upon default, all amounts owing shall become immediately due and payable to I and D Technology Solutions CC.

 

  1. Suspension or Termination of Services

In the event of default, the Creditor may, without prejudice to any other rights:

  • Suspend or terminate the supply of goods or services
  • Withhold delivery of work, products, or access to services
  • Cancel any existing credit facilities

The Creditor shall not be liable for any loss, damages, or consequential losses suffered by the debtor as a result of suspension or termination due to non-payment.

 

  1. Personal Suretyship (Juristic Persons)

Where credit is extended to a juristic person, I and D Technology Solutions CC reserves the right to require any director, member, or authorised representative to sign personal suretyship, jointly and severally, for all amounts owing by the entity, whether existing or future.

Such suretyship shall remain valid until all obligations to the Creditor have been settled in full.

 

  1. Collection Costs & Legal Fees

The debtor shall be liable for all costs incurred by I and D Technology Solutions CC in the recovery of any overdue amounts, including but not limited to:

  • Collection commission
  • Tracing fees
  • Attorney and client legal fees
  • Court costs

 

  1. Allocation of Payments

The Creditor shall be entitled to allocate any payment received, notwithstanding any instruction to the contrary, in the following order:

  1. Interest
  2. Collection and legal costs
  3. Capital amounts

 

  1. National Credit Act

Where applicable, these Credit Terms & Conditions shall be interpreted in accordance with the National Credit Act, 34 of 2005.
Where the National Credit Act does not apply, these terms shall be enforced in accordance with South African common law.

 

  1. Electronic Acceptance

The debtor agrees that acceptance of these Credit Terms & Conditions may occur electronically, including but not limited to acceptance via email, website confirmation, or continued use of services provided by I and D Technology Solutions CC.

Such acceptance shall be binding and enforceable.

 

  1. No Waiver

No indulgence, extension, or relaxation granted by I and D Technology Solutions CC shall constitute a waiver of any rights. All rights shall remain enforceable at all times.

 

  1. Jurisdiction

The debtor consents to the jurisdiction of the Magistrate’s Court of South Africa, notwithstanding that the amount in dispute may exceed the jurisdiction of such court.

 

  1. Governing Law

These Credit Terms & Conditions shall be governed by and interpreted in accordance with the laws of the Republic of South Africa.