Debit Order Terms and Conditions Download as PDF

You, the Customer, acknowledge that:

  1. I instruct and authorise you to draw against my nominated account (or any other bank or branch to which I many transfer our account) the amount necessary for payment of the monthly premium due in respect of the policy, on the day nominated by me each and every month and continuing until termination of our agreement or until cancelled by me in writing.
  2. All such withdrawals from my bank account by you will be treated as though they had been authorised by me personally.
  3. The withdrawals will be processed through a computerised system provided by the South African Banks and that details of each withdrawal will be printed on my bank statement.
  4. I agree to pay any bank charges relating to this debit order instruction.
  5. The authority may be cancelled by me by giving thirty days' notice in writing.
  6. If the authority is cancelled by me I understand that I shall not be entitled to any refund of amounts which you have withdrawn while this authority was in force, if such amounts were legally owing to you.
  7. Receipt of this instruction by us shall be regarded as receipt thereof by my bank whichever it is or will be)
  8. I acknowledge that the party hereby authorised to effect the drawing(s) against my account and may not cede or assign any of its rights to any third party without my prior written consent and that I may not delegate any of my obligations in terms of this authority to any third party without prior written consent of the authorised party.

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