The individual payment instructions so authorized to be issued as followed: monthly.
In the event that the payment day falls on a Sunday or a recognized South African public holiday, the payment day will automatically be the preceding ordinary business day.
I / We understand that the withdrawals hereby authorized will be processed through a computerized system provided by the South African Banks and I also understand that the details of each withdrawal will be printed on my bank statement. Each transaction will contain a number, which must be included in the said payment instruction and if provided to you should enable you to identify the Agreement. A payment reference is added to this form before the issuing of any payment instruction.
Mandate I / We acknowledge that all payment instructions issued by you shall be treated by my / our abovementioned Bank as if the instructions have been issued by me / us personally.
Cancellation I / We agree that although this Authority and Mandate may be cancelled by me / us, such cancellation will not cancel the Agreement. I / We shall not be entitled to any refund or amounts which you have withdrawn while the Authority was in force, if such amounts were legally owing to you.
Assignment I / We acknowledge that this Authority may be ceded or assigned to a third party if the Agreement is also ceded or assigned to that third party, but in the absence of such assignment of the Agreement, this Authority and Mandate cannot be assigned to any third party.