Credit agreements subject to the National Credit Act 34 of 2005

Abstract

The National Credit Act 34 of 2005 (“NCA” or “Act”) applies to three main categories of credit agreements, namely the credit facility, credit transaction and credit guarantee. Eight different credit transactions are subject to the Act. The purpose of the dissertation is to discuss and compare the credit agreements subject to the NCA. The ultimate aim is to identify the distinguishing characteristics of each credit agreement in terms of the NCA to serve as a guide to facilitate its classification as a particular type of credit agreement. This will be done with reference to the Act's provisions, case law and journal publications. Lastly, lacunae in the definitions of the credit agreements subject to the NCA, if any, will be pointed out and recommendations to address the lacunae will be made.