FinYou - Register

Register

Welcome to the beginning of partnering with FinYou!

We look forward to a beneficial partnership!

With NO RISK, NO ADMIN and NO UPFRONT FEES, you can offer your clients credit and BOOST YOUR SALES.

A transactional fee of 5% of the approved credit amount will be deducted only when your client’s loan is approved and paid out to you – meaning you are not charged unless you make a sale!

The agreement and partnership runs for a period of 24 months, after which you may cancel at any point with a notice period of 1 month.

Follow the steps below to complete your sign up:

Step 1: Merchant Info: Follow the prompts and fill out the information form. (Should there be any fields you are unsure of, insert the word “unsure” or the number “00”)

Step 2: User Management: Add the information of each user you would like to have access to your FinYou dashboard to submit finance applications. (Users can be added at a later stage)

Step 3: Terms and Conditions: Read through FinYou’s terms and conditions, thoroughly.

Step 4: Consumer Protection Act: Read through Consumer Protection Act Clause (regarding Prescribed Returns, Exchange and Refund Policy.)

Step 5: Authorisation: Accept all the terms and conditions outlined in the previous steps.

Step 6: Finish: Your merchant registration is now complete.

Please feel free to contact us on 0861 FINYOU (346968) or info@finyou.com for any further information or assistance.

Company Details

Company Name

VAT Number

Company Registration Nr

Your Sale's Agent

Do you have a website? Yes No

Company Website Url Please provide your website URL

Incorporate Application Link? Yes No

Address

City

Postal Code

Phone

Stores owned

Offer your clients elayby? Yes No

Banking Details

Account Name

Account Nr

Bank Name

Branch Code

Branch Name

Account Type

Owner Details

First Name

Surname

Username

Phone

Mobile

Fax

1. Process, Administration & Payment

1.1. FinYou will provide electronic copies of the latest revision of the Customer application form; the Supplier must always ensure that the latest revisions are provided to Customers.

1.2. The Customer will complete an application for a product loan with assistance from the Supplier, after selecting the Products of interest provided by the Supplier.

1.3. The Supplier will forward a completed application to FinYou for processing and FinYou will submit same to the Financial Institution of FinYou’s choice;

1.4. The Customer will be notified of the application status via SMS;

1.5. If the application is approved, the Supplier is notified and must generate a compulsory invoice to FinYou;

1.6. FinYou will settle the Supplier’s account for and on behalf of the Customer and the Products may then be released to the Customer;

1.7. The Customer will be required to repay the loan amount on terms to the Financial Institution that approved the application;

1.8. Payment of the approved loan amount will be made by FinYou to Supplier, on behalf of the Customer.

1.8.1. Payment will be made by Electronic Funds Transfer (EFT).

1.8.2. Payment will be made to the Bank Account particulars as specifically set out by the Supplier on the Merchant Information Provided;

1.8.3. If any changes occur to the Supplier’s bank and/or specific bank account particulars recorded on the Merchant application provided,

1.8.4. Supplier must give FinYou thirty (30) days’ prior written notice of such anticipated changes;

1.9. No payment will be made by FinYou to the Supplier unless FinYou has received authorisation to release the payment to the Supplier, from the Customer; which authorisation is obtained as follows:

1.9.1. Once the application is approved, FinYou’s Services will generate an OTP which is sent to the Customer by SMS, before the Supplier’s Products are to be delivered to the Customer;

1.9.2. The Customer is then required to supply this unique OTP to FinYou, which serves as the Customer’s confirmation of acceptance of the Financial Institution’s loan and authorization for FinYou to proceed with releasing the payment to the Supplier;

1.10. The Supplier may at any stage access the FinYou online portal to generate and view a report on the loans generated and approved during the preceding calendar month.

1.11. This report will be in a format agreed to by both parties, but will at its minimum requirement, contain the following information:

1.11.1 Names of Customers that have been processed;

1.11.2 Loan amount approved per Customer;

1.11.3 Loan amount paid to Supplier and date of payment.

2. Finyou's service fee

2.1 FinYou will charge the Supplier a percentage (%) on approved applications for the utilization of FinYou’s services and systems by the Supplier.

2.1.1 5% on approved applications

3. duration of agreement

3.1. Regardless of the date of signature of this Agreement, the parties record that this Agreement will endure for the period based on the selection of service plan for the period of twenty four (24) months and will only terminate based on the cancellation of renewal as indicated in clause 3.2 hereunder.

3.2. In the event that the contracted period of twenty four (24) months expires and the services were not cancelled with one (1) month’s written notice the contract will continue on a year to year bases for the specific service plan contracted in clause 2 above until one (1) months’ written notice has been provided.

3.3. In the event of either parties deciding not to extend the contract after the contracted period of twenty four (24) months expires, the parties further record that either of them may cancel the extension of this agreement on one (1) months’ written notice prior to the end of the specific service plan contracted in clause 2.1 above:

3.4. In the event that a non-extension notice is received, FinYou will cease intake of all new loan applications from the Supplier; and all current and outstanding loans in the Supplier’s queue will be attended to and completed within the notice period.

4. non-circumvenntion and exclusivity

4.1. The Supplier herewith undertakes and warrants in favour of FinYou that it will not, directly or indirectly, during the existence of this Agreement or for a period of three (3) months after notice of termination or cancellation of this Agreement hereunder:

4.1.1. utilise, solicit, engage or in any other manner whatsoever make use of the Services of a service provider and/or third party with similar services to those offered by FinYou.

4.1.2. contact, deal with or otherwise become involved with any service provider and/or third party with similar services or any other entities or parties introduced, directly or indirectly, by or through FinYou or its systems, its officers, directors, agents or associates; for the purpose of avoiding the payment to FinYou of profits, fees or otherwise; or

4.1.3. circumvent FinYou or the FinYou system in favour of obtaining similar services solicited directly from a Financial Institution which is a business partner of FinYou.

4.2. The Supplier agrees that it shall not use any advantages derivable from confidential information shared by FinYou regarding its system and/or business partners in its own business or affairs, without the specific written approval of FinYou.

5. consent to crediti check

5.1. The Supplier hereby explicitly consents to FinYou supplying its particulars to a registered credit bureau, for the purpose of obtaining a credit check as allowed for in the NCA, and authorises FinYou or their elected agent to, at all times -

5.1.1. contact, request and obtain information from any credit or service provider (or potential credit or service provider) or registered credit bureau relevant to an assessment of the behaviour, profile, payment patterns, indebtedness, whereabouts, and creditworthiness of the Supplier;

5.1.2. furnish information concerning the behaviour, profile, payment patterns, indebtedness, whereabouts, and creditworthiness of the Supplier to any registered credit bureau or to any credit or service provider (or potential credit or service provider) seeking a trade reference regarding the Supplier’s dealings with FinYou.

6. domicilium citandi

6.1. The Parties choose as their domicilia citandi et executandi for all purposes under this agreement, whether in respect of court process, notices or other documents or communications of whatsoever nature (including the exercise of any option), the addresses set out herein below:

6.1.1. For FINYOU

Address: Platinum House, 24 Sturdee Avenue, Rosebank, Johannesburg, 2196

Postal: PO Box 272, Ruimsig, 1732

Telephone: 0861 FINYOU (346968) Fax: 087 803 7423

E-mail: admin@finyou.com

6.1.2. For supplier

The Physical, Telephone, and E-mail particulars as specifically set out by the Supplier on the Merchant Information provided.

6.2. Any notice or communication required or permitted to be given in terms of this agreement shall be valid and effective only if in writing but it shall be competent to give notice by email.

6.3. Any party may by notice to any other party change the physical address chosen as its domicilium citandi et executandi vis-à-vis that party to another physical address in South Africa or its telefax number: Provided that the change shall become effective vis-à-vis that addressee on the fifth (5th) business day from the deemed receipt of the notice by the addressee.

6.4. Any notice to a party may be:

6.4.1. hand delivered, in which case it will be deemed to be received on the day of delivery provided delivery took place on a business day, failing which it will be deemed to be received on the first following business day; or

6.4.2. mailed by pre-paid registered post, in which case it will be deemed to be received on the Seventh business day after date of posting, unless the contrary is proofed; or

6.4.3. transmitted by telefax, in which case it will be deemed to be received on the day it was transmitted provided it was sent on a business day, failing which it will be deemed to be received on the first following business day.

6.4.4. Notwithstanding anything to the contrary herein contained a written notice or communication actually received by a party shall be an adequate written notice or communication to it notwithstanding that it was not sent to or delivered at its chosen domicilium ndi et executandi

1. Process, Administration & Payment

1.1. Elayby will provide electronic copies of the latest revision of the Customer application form; the Merchant must always ensure that the latest revisions are provided to Customers.

1.2. The Customer will complete an application for a product and/or service purchase via the Elayby platform with assistance from the Merchant, after selecting the Products of interest provided by the Merchant.

1.3. The Merchant or the customer will forward a completed application to Elayby for processing and account activation;

1.4. The Customer will be notified of the application status via phone and email;

1.5. The merchant will also be notified of the application activation by the customer via email and via phone;

1.6. On completing full payment of the layby purchase. The Merchant is notified and must generate a compulsory invoice to Elayby;

1.7. Elayby will settle the Merchant’s account for and on behalf of the Customer after and the Products may then be released to the Customer;

1.8. The Customer will be required to pay the layby according to agreed terms as specified on contracted products or services and as per the terms of the merchant and Elayby;

1.9. Payment of the approved layby, less Elayby Fee will be made by Elayby to Merchant, on behalf of the Customer.

1.9.1. Payment will be made by Electronic Funds Transfer (EFT).

1.9.2. Payment will be made to the Bank Account particulars as specifically set out by the Merchant in Annexure A;

1.9.3. If any changes occur to the Merchant’s bank and/or specific bank account particulars recorded in Annexure A, Merchant must give Elayby thirty (30) days’ prior written notice of such anticipated changes;

1.10. No payment will be made by Elayby to the Merchant unless Elayby has received authorisation to release the payment to the Merchant, from the Customer; which authorisation is obtained as follows:

1.10.1 Once the Elayby is paid in full by the customer, the Elayby Services team will contact the Customer by phone to authorise the payment, before the Merchant’s Products are to be delivered to the Customer;

1.10.2 In the event that the merchant has sold the goods or the goods are no longer available that was linked to the layby purchase of the customer, it is the responsibility of the merchant to ensure that a product that is at least similar to the initial purchased product be made available for the customer on completion of the layby transaction

1.11. The Merchant may at any stage request a report to view active Elayby clients during the preceding calendar month.

1.12. This report will be in a format agreed to by both parties, but will at its minimum requirement, contain the following information:

1.12.1 Names of Customers that have been processed;

1.12.2 Layby amount balance per Customer;

1.12.3 Layby Settlement paid to Merchant and date of payment.

2. ELAYBY’S SERVICE FEES

2.1. Elayby will charge the Merchant a Success Fee of 5% excluding VAT on Completed and Settled applications.

2.2. The applicable Success Fee payable to Elayby will be calculated on the completed and settled Elayby account.

2.3. Elayby will only charge the fee in 2.1 on successfully concluded applications.

2.4. Elayby will retain the full fee amount and will pay the Merchant, on behalf of the Customer the layby amount (being the purchase price of the goods or services purchased by the customer) less the Elayby Fee.

2.5. If the customer chooses to withdraw funds prior to the successful conclusion of a transaction the client will be charged and settled net of the below fees as follows;

2.6. A Cancellation fee of 1% excluding VAT on the total purchase price, which will be shared equally between Elayby and the merchant will be charged to the client;

2.7. An Elayby management fee of 4% excluding VAT on the total cash balance in the customer account, which will be shared equally between Elayby and the merchant will be charged to the client

2.8. A layby reversal administration fee of 1.5% on the original value of the purchase to be charged to the customer and withheld by Elayby.

3. Duration of agreement

3.1. Regardless of the date of signature of this Agreement, the parties record that this Agreement will endure for the period based on the selection of service plan for the period of Twenty Four (24) months and will only terminate based on the cancellation of renewal as indicated in clause 3.2 hereunder.

3.2. In the event of either parties deciding not to extend the contract after the contracted period of twenty four (24) months expires, the parties further record that either of them may cancel the extension of this agreement on three (3) months’ written notice prior to the end of the specific service plan contracted in clause 3.1 above:

3.3. In the event that a non-extension notice is received on an official company letterhead, Elayby will cease intake of all new layby applications from the Merchant; and all current and outstanding loans in the Merchant’s queue will be attended to and completed within the notice period.

4. Non-circumvenntion and exclusivity

4.1. The Merchant herewith undertakes and warrants in favour of Elayby that it will not, directly or indirectly, during the existence of this Agreement or for a period of three (3) months after notice of termination or cancellation of this Agreement hereunder:

4.1.1. utilise, solicit, engage or in any other manner whatsoever make use of the Services of a service provider and/or third party with similar services to those offered by Elayby.

4.1.2. contact, deal with or otherwise become involved with any service provider and/or third party with similar services or any other entities or parties introduced, directly or indirectly, by or through Elayby or its systems, its officers, directors, agents or associates; for the purpose of avoiding the payment to Elayby of profits, fees or otherwise; or

4.1.3. circumvent Elayby or the Elayby system in favour of obtaining similar services solicited directly from a Financial Institution which is a business partner of Elayby.

4.2. The Merchant agrees that it shall not use any advantages derivable from confidential information shared by Elayby regarding its system and/or business partners in its own business or affairs, without the specific written approval of Elayby.

5. Layby in respect of merchant products

5.1. The Merchant confirms its agreement and understanding that Elayby cannot guarantee the payment performance of any layby application submitted by a Customer of the Merchant.

5.2.It is agreed that the layby payment of any product or service remains in the sole discretion of the consumer’s capability and affordability to complete the total layby payment in according to term agreed.

5.3.The Merchant, its agents, employees and/or franchisees will actively promote the Services of Elayby to its Customers. Elayby in return will promote the Merchant services and products.

5.4.The Merchant herewith grants Elayby the first right of refusal to develop loyalty programmes and other added services, jointly with the Merchant. Elayby has the right to position the portal for marketing and sales purposes at Elayby’s discretion

6. PROTECTION OF PERSONAL INFORMATION (POPI) ACT

6.1. For the purpose of processing a layby application and activating the customer account (through automated or non- automated means) Elayby requires certain mandatory personal information from the Merchant Customers, as required in the application of a layby for products or services.

6.2. The primary purpose of collecting a Customer’s personal information is to activate the customer’s layby account and manage the service thereof during the layby payment term.

6.3. Elayby undertakes to process personal information of the Merchant Customers only insofar as it is adequate, relevant and not excessive given the purpose for which it is processed, being the Customer’s layby application.

6.4. Elayby will however further process and retain the Customer’s personal information for its records in the event of any return, refund, repair, exchange or other query regarding the layby, for the full term of the layby.

6.5. A Customer may elect to opt-in to receive promotional or marketing material or offers to supply products or services from Elayby or its business partners, or to object to the processing of their personal information for this purpose.

6.6. Elayby undertakes to comply with all prescribed information processing principles as set out in Chapter 3 of the POPI Act.

6.7. Elayby undertakes to secure the integrity and confidentiality of personal information in its possession or under its control by taking appropriate, reasonable technical and organisational measures to prevent

6.7.1. 6.7.1. loss of, damage to or unauthorised destruction of the personal information; and

6.7.1. 6.7.2. unlawful access to or processing of the personal information.

6.8. Where the Merchant assists Elayby in obtaining the necessary personal information directly from the Customer; the Merchant undertakes to ensure that the Customer is informed of the reasons for the personal information being collected, and to ensure that Customers are made aware of their rights in terms of section 5 of the POPI Act in respect of their personal information as data subjects.

6.9. The Merchant agrees to take all reasonable steps to assist Elayby in ensuring that the personal information is complete, accurate, not misleading and updated where necessary, taking into account the purposes for which it was collected.

6.10. Where any of the personal information that is collected for the layby application; is processed, stored or retained by the Merchant, Elayby requires the Merchant to adopt its own measures to ensure security, integrity and confidentiality in compliance with the POPI Act.

7. domicilium citandi

7.1. The Parties choose as their domicilia citandi et executandi for all purposes under this agreement, whether in respect of court process, notices or other documents or communications of whatsoever nature (including the exercise of any option), the addresses set out herein below:

7.1.1. For ELAYBY

Address: Platinum House, 24 Sturdee Avenue, Rosebank, Johannesburg, 2196

Postal: PO Box 272, Ruimsig, 1732

Telephone: 011 051 2005 Fax: 087 803 7423

E-mail: info@Elayby.co.za

7.1.2. For merchant

The Physical and Postal Address, Telephone, Facsimile, and E-mail particulars as specifically set out by the Merchant in Annexure A.

7.2. Any notice or communication required or permitted to be given in terms of this agreement shall be valid and effective only if in writing but it shall be competent to give notice by telefax.

7.3. Any party may by notice to any other party change the physical address chosen as its domicilium citandi et executandi vis-à-vis that party to another physical address in South Africa or its telefax number: Provided that the change shall become effective vis-à-vis that addressee on the fifth (5th) business day from the deemed receipt of the notice by the addressee.

7.4. Any notice to a party may be:

7.4.1. hand delivered, in which case it will be deemed to be received on the day of delivery provided delivery took place on a business day, failing which it will be deemed to be received on the first following business day; or

7.4.2. mailed by pre-paid registered post, in which case it will be deemed to be received on the Seventh business day after date of posting, unless the contrary is proofed; or

7.4.3. transmitted by telefax, in which case it will be deemed to be received on the day it was transmitted provided it was sent on a business day, failing which it will be deemed to be received on the first following business day.

7.4.4. Notwithstanding anything to the contrary herein contained a written notice or communication actually received by a party shall be an adequate written notice or communication to it notwithstanding that it was not sent to or delivered at its chosen domicilium citandi et executandi.

1. The CPA provides that a Customer may return goods to the Supplier and receive a full refund of any consideration paid for those Goods under certain conditions. A Customer’s right to return Goods and receive a refund in terms of the CPA section 20(2) will however not apply with respect to any Goods if—

1.1. for reasons of public health or otherwise, a public regulation prohibits the return of those Goods to a Supplier once they have been supplied to, or at the direction of, a Customer; or

1.2. after having been supplied to, or at the direction of, the Customer, the Goods have been partially or entirely disassembled, physically altered, permanently installed, affixed, attached, joined or added to.

2. In the event that any refund is required, the Supplier undertakes to refund the full Purchase Price or the relevant portion of the Purchase Price (where applicable) to FinYou or to the relevant Financial Institution in accordance with the stipulated provisions hereunder in order to settle that part of the Customer’s loan that formed the Purchase Price.

3. In order to give effect hereto, the Supplier shall procure that the Customer notifies the Supplier forthwith should any of the circumstances contemplated in this Annexure D occur in relation to the Customer or any Goods.

REASON FOR RETURN BY CUSTOMER IN ACCORDANCE TO THE PROVISIONS OF THE CPA

Transaction cancelled and/or Goods returned by a Customer in those instances where –

1. the conclusion of a contract and/or sale of Goods occurred as a result of direct marketing, and the Customer has given notice to rescind the transaction within five (5) business days (the “cooling-off” period) after the later date on which:

1.1. the agreement/transaction was concluded; or

1.2. the Goods were delivered to the Customer.

CPA s16 & s20(2)(a)

Transaction cancelled and/or Goods returned by a Customer in those instances where –

1. the Customer did not have an opportunity to examine the Goods before delivery, and the Customer has rejected delivery of the Goods due to:

1.1. the Goods not being of a type and quality reasonably contemplated in the sale of goods agreement, and

1.1.1. does not match the description of the Goods given to the Customer, or

1.1.2. does not correspond to the sample examined by the Customer at the time when the Goods were ordered, or

1.1.3. in the case of special-order agreement, the specially ordered Goods do not reasonably conform to the material specifications of the Customer’s special order.

CPA s19(5) & s20(2)(b)

Transaction cancelled and/or Goods returned by the Customer in those instances where –

1. the Supplier delivered some of the goods to the Customer that the Supplier agreed to supply, mixed with goods of a different description not contemplated in the sale of Goods agreement, and

1.1. the Customer has rejected the complete delivery of all Goods; or

1.2. the Customer accepted delivery of only those Goods that were in accordance with the agreement and rejected the rest.

CPA s19(5) & s20(2)(b)

Transaction cancelled and/or Services (as defined in the CPA) rejected by a Customer in those instances where –

1. The Supplier failed to perform a service to the standards contemplated in s54(1)

CPA s54(a & b)

SUPPLIER’S OBLIGATION ON TENDER OF RETURN OF GOODS TO THE SUPPLIER AND/OR RESCISSION OF THE SALE OF GOODS TRANSACTION BETWEEN THE SUPPLIER AND CUSTOMER

1.1. receiving notice that the Customer chose to rescind the transaction, if no Goods had yet been delivered to the Customer in terms of the transaction; or

1.2. receiving notice and the returned Goods from the Customer, supplied in terms of the transaction.

2. The Supplier may not attempt to collect any payment in terms of a rescinded transaction, except as permitted in terms of section 20(6) of the CPA.

2.1. Payment for any such collections will be a matter between the Customer and the Supplier and may not be set off against the refund amount owed to FinYou/ Financial Institution.

Goods are to be returned to the Supplier at the Customer’s risk and expense, within ten (10) business days after delivery to the Customer.

1. The Supplier must refund and return in full, the part of the Loan Amount which constituted the Purchase Price to FinYou; within ten (10) business days after –

1.1. receiving notice that the Customer chose to rescind the transaction, and

1.2. receiving the returned Goods from the Customer, supplied in terms of the transaction.

2. The Supplier may not attempt to collect any payment in terms of a rescinded transaction, except as permitted in terms of section 20(6) of the CPA.

2.1. Payment for any such collections will be a matter between the Customer and the Supplier and may not be set off against the refund amount owed to FinYou/ Financial Institution.

Goods are to be returned to the Supplier at the Supplier’s risk and expense, within ten (10) business days after delivery to the Customer.

1. Where delivery is COMPLETELY returned/rejected:

1.1. The Supplier must refund and return in full, that part of the Loan Amount which constituted the Purchase Price of all Goods to FinYou; within ten (10) business days after receiving the returned/rejected Goods supplied in terms of the transaction; or

2. Where delivery is PARTIALLY returned/rejected (in the case of multiple Goods):

2.1. The Supplier must refund and return in full, that part of the Loan Amount which constitutes the equivalent portion of the Purchase Price for the returned/rejected Goods to FinYou, within ten (10) business days after receiving the returned/rejected Goods supplied in terms of the transaction.

3. The Supplier may not attempt to collect any payment in terms of a rescinded transaction, except as permitted in terms of section 20(6) of the CPA.

3.1. Payment for any such collections will be a matter between the Customer and the Supplier and may not be set off against the refund amount owed to FinYou/ Financial Institution.

Goods are to be returned to the Supplier at the Supplier’s risk and expense, within ten (10) business days after delivery to the Customer.

1. The Customer may require the Supplier to either:

1.1. remedy any defect in the quality of the services performed or Goods supplied; or

1.2. refund to the Customer a reasonable portion of the price paid for the services performed and Goods supplied, having regard to the extent of the failure.

2. In the event of a refund, the Supplier must refund and return in full, that part of the Loan Amount which constitutes the Purchase Price or the equivalent refundable portion thereof, to FinYou, within ten (10) business days after the Customer demands such repayment.

3. The Supplier may not attempt to collect any payment in terms of a rescinded transaction, except as permitted in terms of section 20(6) of the CPA. Payment for any such collections will be a matter between the Customer and the Supplier and may not be set off against the refund amount owed to FinYou Financial Institution

REASON FOR RETURN BY CUSTOMER IN ACCORDANCE TO THE PROVISIONS OF THE CPA

Transaction cancelled and/or Goods returned by a Customer in those instances where –

1. the Goods have been found to be unsuitable for the purpose, communicated to the Supplier

1.1. where such Goods were intended to satisfy a particular purpose, which was communicated to the Supplier, and within ten (10) business days after delivery to the Customer, the Goods were found to be unsuitable for that particular purpose and the Supplier is subsequently informed of such unsuitability.

CPA s55(3) and s20(2)(d)

Transaction cancelled and/or Goods returned by a Customer in those instances where –

1. the Goods failed to satisfy the requirements and standards contemplated in s55 of the CPA within six (6) months of delivery, being that the Goods must be:

1.1. reasonably suitable for the purposes for which it is generally intended;

1.2. of good quality, in good working order and free of any defects;

1.3. useable and durable for a reasonable period of time given normal use and the manner in which the Goods are supplied; and

1.4. compliance with the standards set under the Standards Act, 29 of 1993, or any other public regulation.

CPA s55, 56(2)(a & b)

Transaction cancelled and/or Goods returned by a Customer in those instances where –

1. the Goods were found to have failed, or be unsafe or defective Goods, and within three months after the repair of the Goods:

1.1. the failure, defect or unsafe feature of the repaired Goods or any component of such Goods, has not been remedied, or

1.2. a further failure, defect or unsafe feature is discovered.

CPA s55, 56(3)(a & b)

1. The Customer may require the Supplier to either:

1.1. remedy any defect in the quality of the services performed or Goods supplied; or

1.2. refund to the Customer a reasonable portion of the price paid for the services performed and Goods supplied, having regard to the extent of the failure.

SUPPLIER’S OBLIGATION ON TENDER OF RETURN OF GOODS TO THE SUPPLIER AND/OR RESCISSION OF THE SALE OF GOODS TRANSACTION BETWEEN THE SUPPLIER AND CUSTOMER

1. The Supplier must refund and return in full, the part of the Loan Amount which constituted the Purchase Price to FinYou; within ten (10) business days after –

1.1. receiving notice that the Customer chose to rescind the transaction due to unsuitability; and

1.2. receiving the returned/rejected Goods from the Customer supplied in terms of the transaction.

2. The Supplier may not attempt to collect any payment in terms of a rescinded transaction, except as permitted in terms of section 20(6) of the CPA.

2.1. Payment for any such collections will be a matter between the Customer and the Supplier and may not be set off against the refund amount owed to FinYou/ Financial Institution.

Goods are to be returned to the Supplier at the Supplier’s risk and expense, within ten (10) business days after delivery to the Customer.

1. The Supplier must, at the direction of the Customer:

1.1. Either procure the repair or replacement of the failed, unsafe or defective goods; or

1.2. refund and return the Purchase Price

2. In the event of a refund, the Supplier must refund and return in full, the part of the Loan Amount which constituted the Purchase Price to FinYou; within ten (10) business days after –

2.1. receiving notice that the Customer chose to rescind the transaction due to failed, unsafe or defective goods; and

2.2. receiving the returned/rejected Goods from the Customer supplied in terms of the transaction.

3. The Supplier may not attempt to collect any payment in terms of a rescinded transaction, except as permitted in terms of section 20(6) of the CPA.

3.1. Payment for any such collections will be a matter between the Customer and the Supplier and may not be set off against the refund amount owed to FinYou/ Financial Institution.

Goods are to be returned, replaced or repaired at the Supplier’s risk and expense.

Transaction cancelled and/or Goods returned by a Customer in those instances where –

1. the Goods were found to have failed, or be unsafe or defective Goods, and within three months after the repair of the Goods:

1.1. the failure, defect or unsafe feature of the repaired Goods or any component of such Goods, has not been remedied, or

1.2. a further failure, defect or unsafe feature is discovered.

CPA s55, 56(3)(a & b)

1. The Supplier must:

1.1. procure the replacement of the failed, unsafe or defective goods; or

1.2. refund and return the Purchase Price.

2. In the event of a refund, the Supplier must refund and return in full, the part of the Loan Amount which constituted the Purchase Price to FinYou; within ten (10) business days after –

2.1. receiving notice that the Customer chose to rescind the transaction due to failed, unsafe or defective goods; and

2.2. receiving the returned/rejected Goods from the Customer supplied in terms of the transaction.

3. The Supplier may not attempt to collect any payment in terms of a rescinded transaction, except as permitted in terms of section 20(6) of the CPA.

3.1. Payment for any such collections will be a matter between the Customer and the Supplier and may not be set off against the refund amount owed to FinYou/ Financial Institution.

Goods are to be returned, replaced or repaired at the Supplier’s risk and expense.