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Credit Application Checklist: - No Faxed or Emailed Copies Allowed

The document outlines the requirements for completing a credit application, emphasizing the need for accuracy and completeness in various sections. It specifies mandatory documentation and signatures, as well as the importance of careful consideration regarding the requested credit limit. Incomplete applications will not be processed, and the review process may take up to 15 working days after submission.

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36 views2 pages

Credit Application Checklist: - No Faxed or Emailed Copies Allowed

The document outlines the requirements for completing a credit application, emphasizing the need for accuracy and completeness in various sections. It specifies mandatory documentation and signatures, as well as the importance of careful consideration regarding the requested credit limit. Incomplete applications will not be processed, and the review process may take up to 15 working days after submission.

Uploaded by

Riana
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Credit Application Checklist

Please note this is a legal contract that should be completed correctly.


 Application form is to be completed in a Black ink and returned to the Finance Department
for processing.
 The original application should also be sent to finance for a full credit review and record
keeping. No faxed or emailed copies allowed.
 Section A of the application is mandatory across all customers. No space should be left
unfilled.
 Registered Companies and Close Corporations must complete section B of the application
Form as well.
 All directors should be listed on Section C (10) of the application form, If its more than 4
directors, an annexure should be attached.
 Page 5 of the application form should be completed and co-signed by two witnesses.
 The Surety section of the application form must be completed by the customer/s as detailed
in section B (10) or Section C(4)

 Careful consideration need to be applied on the credit limit requested, which must be based
on double the estimated monthly purchases
 Copies of the following documents must be attached to the application form

Company CM46 & CM9 or CM29


Closed Corporation CK1
Certified copies of Identity Documents of all Directors or members, No older than 3 months of the
request of the account ( No copies of copies allowed)
VAT registration certificate –VAT 103
Bank Letter (Not older 3 months)
Updated Cipro documents
Any alterations must be crossed out neatly and signed. Please do not use Tip-ex.

Final verifications and spot checks

Legal name must be completed on the first line of page 1


The legal name and registration number must be completed as the customer on the surety page
Name and position held must be completed on page 5
There should be witness signature on page 5
Authorized signatories as per the resolution must sign in full where necessary
It’s very important that the CPA blocks on page 4 & 5 are initialed.

NB: INCOMPLETE APPLICATIONS WILL NOT BE PROCESSED BUT COMUNICATION WILL BE


ISSUED TO RECTIFY THE ERRORS

NOTE: APPLICATION TAKES UP TO 15 WORKING DAYS AFTER ORIGINAL HAS BEEN RECEIVED AND REP HAS BEEN
AT THE PREMISES TO EVALUATE THE COMPANY

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