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Remember your debtors card

From 1 July 2013 debtors cards will be compulsory for all account holders. The purpose of this card system is to provide heightened security to all card users as far as card purchases are concerned. A further benefit is that it provides account holders with an analysis of purchases of sub card users, where more than one person does purchases on an account.

Awareness of this action has already been raised through personal contact with all account holders, via the sending of SMS and through an article that was published in the March 2013 issue of Koördinaat.

The first card is issued at no cost, but secondary cards and the reissuing of cards will take place at a minor cost of R6,84 (excluding VAT) per card. After 1 July all accounts where no debtors cards have been issued will be closed temporarily until the necessary cards have been issued.

Please contact your financing consultant for more information in this regard.

Apply for financing now

The new application season for summer production financing is approaching fast. NWK Financing is already geared to manage producers applications proactively, taking into consideration the past season.

Production accounts for the 2016/2017 season is payable before or on 30 September 2017 and producers are advised to apply for the 2017/2018 season as soon as possible. NWK Financing has allocated financing consultants for all account holders.

These consultants will contact each producer to commence with the application process timeously. Producers are, however, welcome to contact their consultants in the meantime.

The following documentation is required to speed up the turnaround time of applications:

For all existing and new applications:

  • GPS maps of all the fields that have to be financed by NWK Limited. If any other production financing, apart from NWK Limited’s financing is being utilised, the necessary documentation regarding the nature of the financing and the amount must be supplied.
  • A lessee of land must supply a copy of the legal lease.
  • Copies of the latest statements with regard to balances and instalments of other debt and instalment payments, like for example hire purchase, Land Bank and commercial bank statements as well as other casual debt (if applicable).
  • All registration numbers and registration dates (where available) of vehicles, tractors and self-propelled harvesters.
  • Annual financial statements of the previous financial year – in the case of separate legal entities, audited statements are required.
  • Excerpt from the minutes of the person who is authorised to sign all documents on behalf of the company, closed corporation, trust and partnership.

For all new applications: Company

  • Certified copy of the memorandum of association and articles of association as well as the certificate to commence business; and
  • Certified copies of the identity documents of the directors.

Closed Corporation

  • Certified copies of the CK1 or CK2 form; and
  • Certified copies of the identity documents of the various members of the closed corporation.

Trust

  • Certified copy of the trust deed and the letter of authority; and
  • Certified copies of the identity documents of the trustees.

Partnership

  • The partnership agreement;
  • The full details of the partners; and
  • Certified copies of the identity documents of the partners.

Summer production applications for the 2017/2018 season will close on 31 October this year.

Debtors card offers benefits to buyers

The debtors card system has been operational since October 2007 to provide card users with increased security with regard to account purchases. A further benefit for card users is that it provides an analysis in respect of purchases by every sub-card user when more than one person does purchases on an account.

This card system is already being used by a large percentage of card holders. Since NWK Limited tries to protect the interests of its account holders as far as possible, the use of debtors cards became compulsory from 1 July 2013. There are no fees involved in the issuing of the first card, but secondary cards and the reissuing of cards will be done at a small fee of R6,84 (including VAT) per card.

Please contact your NWK Financing consultant as soon as possible if you do not have a card yet.

Financing consultants:

  • Hans Rothman: +27 82 577 0144; +27 18 633 1230
  • Gert Venter: +27 82 559 8530; +27 18 633 1243
  • Jannie Rousseau: +27 76 638 9189; +27 18 633 1222
  • Daan Verster: +27 76 640 7048; +27 18 633 1227
  • Gerrie Fourie: +27 76 645 4648; +27 18 633 1239
  • Ronald Morake: +27 76 602 2385; +27 18 633 1530

NWK Financing will also contact account holders directly in the next few months to expedite the issuing of cards.

Rates on NWK credit life insurance unchanged

 

Rates for 2017/2018
Age – next anniversary
Rate/R1 000 on insured amount per month
18 – 25
R0,2874
25 - 29 R0,2786
30 - 34 R0,3128
35 - 39
R0,3255
40 - 44 R0,6065
45 - 49
R0,8074
50 - 54
R1,5100
55 - 59
R2,1577
60 - 65
R3,7215
66 - 70
R4,8403

The maximum evidence-free limit is R8 000 000 for each insured life and the age limit has been decreased to 70 years.

You can still convert your credit life insurance with a conversion option to permanent life insurance cover. Please contact your nearest Univision Financial Services for more information.

Article by: Francois de Kock (manager: Financing)

 

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