ACKNOWLEDGEMENT OF DEBT AGREEMENT

 

INTRODUCTION

In this agreement, the Debtor acknowledges being indebted to the Creditor in an amount regulated by the agreement. Deductions are then made at source from the salary of the employee on the basis that the employee agreed thereto in writing. The Basic Conditions of Employment Act regulates that no deductions may be made from the salary of an employee, unless the employee agrees thereto in writing. The Acknowledgement of Debt Agreement is the tool wherein the employee provides such written authorisation.

 

FURTHER IN THIS AGREEMENT - SUBSCRIBERS ONLY

• Indebtedness
• Repayment
• Breach
• Cost of Proceedings
• Magistrates Court
• Renunciation of Benefits
• General
• Domicilium and Notices
• Appropriation and Set off
• Overdue Payments
• Costs

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