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list_of_contract_definitions [2019/06/13 09:33]
Schuzelle van Wyk [Mandates]
list_of_contract_definitions [2020/05/29 11:39] (current)
Willie Louw [Electronic Service Limits]
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-=======List of contract definitions=======+=======List of debit order contract definitions=======
  
  
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-=====Contact ​information=====+=====Contract ​information=====
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 ^Term^Definition^ ^Term^Definition^
-|company name|means legal entity name followed by (Pty) Ltd, Ltd, CC or Trust and also includes trading as name. For example, ​ Company ABC (Pty) Ltd t/a ABC.| +|Company Name|Legal entity name followed by (Pty) Ltd, Ltd, CC or Trust and also includes trading as name. For example, ​ Company ABC (Pty) Ltd t/a ABC.| 
-|email general comms|means the email at the business ​where general communication can be sent to.| +|Email General Comms|Business ​email address ​where general communication can be sent to.| 
-|email reminders|means the email at the business ​where reminders can be sent to.| +|Email Reminders|Business ​email address ​where reminders can be sent to.| 
-|email confirmation|means the email at the business ​where processing confirmation files of the debit orders ​can be sent to.| +|Email Confirmation|Business ​email address ​where processing confirmation files can be sent to.| 
-|email - VET Report|means the email at the business ​where VET reports (report confirming ​batch has been processed) can be sent to.| +|Email - VET Report|Business ​email address ​where VET reports (batch processed ​confirmation report) can be sent to.| 
-|email - Unpaid|means the email at the business ​where individual unpaid clients can be sent to.| +|Email - Unpaid|Business ​email address ​where individual unpaid clients can be sent to.| 
-|email - Billing|means the email at the business ​where invoices can be sent to.| +|Email - Billing|Business ​email address ​where invoices can be sent to.| 
-|physical address|means the physical ​address of the business that can be verified by FICA which includes a utility bill or lease agreement.| +|Physical Address|Physical ​address of the business that can be verified by FICA which includes a utility bill or lease agreement.| 
-|postal address|means the postal ​address of the business ​which can be either ​physical address or postal box.| +|Postal Address|Postal ​address of the businesseither physical address or postal box.| 
-|registration number|means the registration ​number provided by CIPC which is usually provided on the CoR 14.1/​CoR14.3/​CoR20.2 document, CK1/CK2 document or Trust Deed.| +|Registration Number|Registration ​number provided by CIPCusually provided on CoR 14.1/​CoR14.3/​CoR20.2 document, CK1/CK2 document or Trust Deed.| 
-|VAT registration number|means the Value Added Tax registration number provided by SARS upon successful registration for Value Added Tax.| +|VAT Registration Number|Value Added Tax registration number provided by SARS upon successful registration for Value Added Tax.| 
-|system administrator|means the person(s) who will be submitting ​the debit order transactions to the system and who requires ​a login.| +|System Administrator|Person(s) who will be submitting debit order transactions to the system and who require ​a login.| 
-|full names|mean all of your names listed on your identification card as well as your surname.|+|Full Names|All your names listed on your identification card as well as your surname.|
  
 ===== Electronic Service Limits ===== ===== Electronic Service Limits =====
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 ^Term^Definition^ ^Term^Definition^
-|aggregate limit debits|mean the total amount ​that you want to collect from all of your clients combined in one month via the EFT debit order system. The retention percentage is based on this amount.|  +|Aggregate Limit Debits|Total amount you want to collect from all of your clients combined in one month via the EFT debit order system. The retention percentage is based on this amount.|  
-|item limit debits|mean the highest ​amount you want to collect from one client via the EFT debit order system.| +|Item Limit Debits|Highest ​amount you want to collect from one client via the EFT debit order system.| 
-|aggregate limit - NAEDO|means the total amount ​that you want to collect from all of your clients combined in one month via the NAEDO debit order system. The retention percentage is based on this amount.|  +|Aggregate Limit - NAEDO|Total amount you want to collect from all of your clients combined in one month via the NAEDO debit order system. The retention percentage is based on this amount.|  
-|item limit - NAEDO|means the highest ​amount you want to collect from one client via the NAEDO debit order system.| +|Item Limit - NAEDO|Highest ​amount you want to collect from one client via the NAEDO debit order system.| 
-|aggregate limit cards|mean the total amount ​that you want to collect from all of your clients combined in one month via the credit card merchant facility. The retention percentage is based on this amount. You will require a merchant facility for credit card processing.|  +|Aggregate Limit Cards|Total amount you want to collect from all of your clients combined in one month via the credit card merchant facility. The retention percentage is based on this amount. You will require a merchant facility for credit card processing.|  
-|item limit cards|mean the highest ​amount you want to collect from one client via the credit card merchant facility. The retention percentage is based on this amount. You will require a merchant facility for credit card processing.|  +|Item Limit Cards|Highest ​amount you want to collect from one client via the credit card merchant facility. The retention percentage is based on this amount. You will require a merchant facility for credit card processing.|  
-|aggregate limit credits|mean the total amount ​that you want to pay out to suppliers/​employees combined in one month via the EFT debit order system. You will require a specific account for this facility.| +|Aggregate Limit Credits|Total amount you want to pay out to suppliers/​employees combined in one month via the EFT debit order system. You will require a specific account for this facility.| 
-|item limit credits|mean the highest ​amount you want to pay out to one supplier/​employee via the EFT debit order system. You will require a specific account for this facility.|+|Item Limit Credits|Highest ​amount you want to pay out to one supplier/​employee via the EFT debit order system. You will require a specific account for this facility.|
  
 ===== Electronic Services ===== ===== Electronic Services =====
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 ^Term^Definition^ ^Term^Definition^
-|two day service debits|means the debit order file will need to be submitted to the system two business days prior to the action date before 12:00 to be accepted. For example if you want to debit the client on the 1st of August, the batch should be submitted by the 28th of July.| +|Two Day Service Debit Order|Debit order files must be submitted to the system two business days prior to the action datebefore 12:00to be accepted. For example if you want to debit the client on the 1st of August, the batch should be submitted by the 28th of July.| 
-|same day service debits|means the debit order file will need to be submitted to the system on the action date before 12:00 to be accepted. For example if you want to debit the client on the 1st of August, the batch should be submitted by the 1st of August before 12:00.| +|Same Day Service Debit Order|Debit order files must be submitted to the system on the action datebefore 12:00to be accepted. For example if you want to debit the client on the 1st of August, the batch should be submitted by the 1st of August before 12:00.| 
-|NAEDO ​debits ​(soon to be DebiCheck)|means the debit order allows for tracking days on the account ​(which means you can track the account for a number of days to see if funds become available) and the file will need to be submitted to the system one business day prior to the action date before 12:00 to be accepted. For example if you want to debit the client on the 1st of August, the batch should be submitted by the 30th of July before 12:00.| +|NAEDO ​Service Debit Order (soon to be DebiCheck ​Debit Order)|The debit order allows for tracking days on the account, meaning ​you can track the account for several ​days until funds reflect. Debit order files must be submitted to the system one business day prior to the action datebefore 12:00to be accepted. For example if you want to debit the client on the 1st of August, the batch should be submitted by the 30th of July before 12:00.| 
-|card collections|means the debit order file can only contain credit card details and can be submitted ​as a same day debit which means on the action date.|  +|Card Collections|Debit order files can only contain credit card details and can be submitted ​similar to Same Day Service, meaning ​on the action date.|  
-|two day service credits|means the credits file will need to be submitted to the system two business days prior to the action date before 12:00 to be accepted. For example if you want to run credits on your bank account on the 1st of August, the batch should be submitted by the 28th of July.| +|Two Day Service Credit Payments|Credit files must be submitted to the system two business days prior to the action datebefore 12:00to be accepted. For example if you want to run credits on your bank account on the 1st of August, the batch should be submitted by the 28th of July.| 
-|same day service credits|means the credits file will need to be submitted to the system on the action date before 12:00 to be accepted. For example if you want to run credits on your bank account on the 1st of August, the batch should be submitted by the the 1st of August before 12:00.| +|Same Day Service Credit Payments|Credit files must be submitted to the system on the action datebefore 12:00to be accepted. For example if you want to run credits on your bank account on the 1st of August, the batch should be submitted by the the 1st of August before 12:00.| 
-|account verification service|is a service that allows you to verify ​whether a natural person or legal entity claiming to be is indeed the holder of a specific bank account. ​This service also provides how long an account has been open for as well as whether ​or not debits/credit ​are allowed to the specific account.|+|Account Verification Service|Verifies ​whether a natural person or legal entity claiming to beis indeed the holder of a specific bank account. ​Also checks whether ​an account has been open longer than three months, accepts debit or credit ​requests, and several other confirmations.|
  
 ===== Action dates ===== ===== Action dates =====
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 ^Term^Definition^ ^Term^Definition^
-|action dates|mean the days that you want to collect funds from your clients or credit your account for payouts. These days are business days and exclude public holidays.|+|Action Dates|Days that you want to collect funds from your clients or credit your account for payouts. These days are business days and exclude public holidays.|
  
 ===== Charges Account ===== ===== Charges Account =====
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 ^Term^Definition^ ^Term^Definition^
-|charges account|is the account ​where your fees for the services will be debited from.|+|Charges Account|Account ​where your fees for the services will be debited from.|
  
 ===== Nominated Account ===== ===== Nominated Account =====
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 ^Term^Definition^ ^Term^Definition^
-|nominated account|is the account where the funds collected will be paid out to or the funds to be credit will be taken from. This means the business ​account where all funds collected will be paid out to or the account provided for credits to be processed from.|+|Nominated Account|Business ​account where funds collected will be paid out toor the account provided for credits to be processed from.|
  
 ===== Mandates ===== ===== Mandates =====
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 ^Term^Definition^ ^Term^Definition^
-|paper debit order mandates|is a debit order authorisation form signed in pen and ink. The Payments Association of South Africa prescribes the minimum wording for such a mandate ​that can be obtained from the debit order provider.| +|Paper Debit Order Mandate|debit order authorisation form signed in pen and ink. The Payments Association of South Africa prescribes the minimum wording for such a mandate, which can be obtained from Direct Debit.| 
-|voice debit order mandates|is a debit order authorisation recording that needs to adhere to SAAB requirements. The Payments Association of South Africa prescribes the minimum wording for such a mandate ​that can be obtained from the debit order provider.| +|Voice Debit Order Mandate|debit order authorisation recording that needs to adhere to SAAB requirements. The Payments Association of South Africa prescribes the minimum wording for such a mandate, which can be obtained from Direct Debit.| 
-|electronic debit order mandates|is a debit order authorisation form signed electronically. The Payments Association of South Africa ​and Sponsoring Bank prescribes the minimum ​requirements ​for such a mandate ​and more information ​can be obtained from Direct Debit.|+|Electronic Debit Order Mandate|debit order authorisation form signed electronically. The Payments Association of South Africa prescribes the minimum ​wording ​for such a mandate, which can be obtained from Direct Debit.|
  
  
list_of_contract_definitions.1560418408.txt.bz2 · Last modified: 2019/06/13 09:33 by Schuzelle van Wyk