1. Definitions used in this document
In this Agreement, unless the context indicates differently-
1.1 “TFG Money Account” means the account opened in your name to which we will debit amounts payable by you in terms of this Agreement, which is linked to the Card;
1.2 “Agreement” means the Credit Agreement that you accept in store and includes these terms and conditions (the “Terms”) and all notices that we send to you;
1.3 “Application” means your application for the Credit Facility which allows you to purchase on the Card, which purchases can be made at any TFG store;
1.4 “Business Day” means any day except for a Saturday, Sunday or public holiday;
1.5 “Card” means the TFG Money Account card that we issue to you;
1.6 "Credit Agreement” means the credit agreement which you agreed to, and sign in store when opening your TFG Money Account, together with the Terms;
1.7 “Credit Allocation” means the maximum amount of credit that we make available for you to access and cannot exceed the Credit Limit;
1.8 “Credit Facility” means the revolving credit facility that we offer to you, subject to the Terms;
1.9 “Credit Limit” means the maximum approved amount of credit in terms of your Credit Facility;
1.10 “Due Date” means the date on which a payment is due, as set out in the statement;
1.11 “Interest Bearing Plan” means interest bearing payment Plans of 6, 12, 18, 24, 36 (six, twelve, eighteen, twenty four or thirty six) months or longer;
1.12 “FGRR” means The Foschini Group Reference rate, which is the rate of interest determined by TFG from time to time;
1.13 “Personal Information” means information relating to an identifiable, living, natural person;
1.14 “Suspensive Interest Plan” means a 6 (six) month interest waived plan which may be interest bearing as per clause 9.5 below. Certain goods may not be purchased on this Plan;
1.15 “TFG” means Foschini Lesotho (Pty) Ltd, registration number 1980/56. Our address is Metropolitan Life Building, Kingsway Road, Maseru 100, Lesotho. TFG includes any trading division of TFG, and where relevant, our subsidiary and holding companies, any subsidiary of any of our holding companies and any person to whom we transfer any of our rights and obligations under this agreement. TFG currently trades as: American Swiss, Exact, Fabiani, The Fix, Foschini, Jet, Markham, Sportscene, Sterns and Totalsports. New trading divisions may be added from time to time. For all correspondence contact: TFG, PO Box 6020, Parow East, 7501, South Africa;
1.16 “we”, “us” and “our” means TFG;
1.17 “you”/“your” means the person who has agreed to enter into this Agreement and whose details are recorded on the Credit Agreement;
1.18 The headings of the various clauses in these Terms have been inserted purely for the purposes of convenience and they will not be used to interpret the Terms and the Agreement;
1.19 The singular includes the plural and vice versa.
2. Your Credit Facility
2.1 You have accepted the Credit Facility as set out in the pre-agreement statement and quotation and the Credit Agreement, which upon acceptance becomes part of the Agreement.
2.2 We hereby grant you the Credit Facility, subject to the Agreement.
2.3 We will issue you with a Card. The use of the Card is subject to these Terms.
2.4 We will debit all the amounts which you owe us under the Agreement, including charges and fees, to your TFG Money Account, on these Terms.
3. Use of your Card and TFG Money Account
3.1 You are the only person who can use your Card. You cannot transfer it to any other person or allow any other person to use it.
3.2 You may use your Card to purchase goods and services from any TFG store. When in store, you must sign the sales voucher when you use your Card to confirm receipt of the goods and/or the services. You will not be allowed to purchase on your TFG Money Account if you do not present your Card in store. Your purchases will be charged to your TFG Money Account.
3.3 If your Card is lost or stolen, you must call customer services (see clause 16 below for contact details), as soon as you discover the loss. If we issue a new Card to you, we will charge you a Card replacement cost for the replacement Card.
3.3.1 You must be in store to replace your Card;
3.3.2 We cannot replace your Card without your original Identity card being present.
3.4 Your Card will remain our property and we may cancel, suspend or demand the return of your Card at any time. Further, we may suspend and/or close your TFG Money Account at any time at our absolute and sole discretion, but we will not exercise this discretion unreasonably.
3.5 If your TFG Money Account has been used fraudulently, you must lodge a claim with TFG Credit Forensics (see clause 16 below for contact details) within 30 (thirty) days of the date of your statement reflecting the fraudulent use, or sooner if you become aware of it before this. Failure to do so could result in you being held liable for the fraudulent purchases made on your TFG Money Account. You will be required to provide us with certain documents to support your claim. These must be provided to us within 7 (seven) Business Days of lodging your claim, or the investigation may be closed, and you will be held liable for the purchases. We will investigate your claim, and if we conclude that you did not make the purchase(s), we will not hold you liable for the disputed purchases.
3.6 If you are a contract worker at the time of opening your TFG Money Account, or become a contract worker at a later stage, there may be limits/blocks placed on your TFG Money Account up to 6 (six) months before your contract comes to an end. You therefore need to inform us if these circumstances arise and will then need to provide us with new employment details to enable us to re-activate your TFG Money Account/Card. You can contact customer services for more information.
3.7 You may be required to pay a deposit with your first purchase or when purchasing certain goods. You will be advised on this in store.
4. Understanding your Credit Limit and Credit Allocation
4.1 Any purchases you make are at all times limited to your Credit Allocation.
4.2 You undertake not to purchase in excess of your Credit Allocation.
4.3 Your Credit Allocation may be increased or decreased at any time by us in our sole discretion.
4.4 Your Credit Limit may be increased in the following instances:
4.4.1 temporarily where we accept a purchase which results in the Credit Limit being exceeded or where we agree to raise the Credit Limit in response to a request from you in order to accommodate a particular purchase. You will then only be able to purchase again on your TFG Money Account when you have paid back the amount which exceeded your Credit Limit; or
4.4.2 by agreement with you in response to a written or oral request initiated by you at any time or with your written consent in response to a written proposal by us at any time; or
4.4.3 unilaterally, if you, at the time of applying for the Credit Facility or at any later time, in writing, have specifically requested the option of having the Credit Limit automatically increased from time to time.
4.5 You may at any time, by written notice to us, require that the Credit Limit be reduced or stipulate the maximum Credit Limit that you will accept.
4.6 We may, by notice to you, reduce the Credit Limit. The reduction will be effective upon delivery of the notice.
4.7 We may, in our sole discretion, decide to extend the term of your Plan to assist you with meeting your monthly payment obligations. We will inform you of this in writing or via SMS.
5. If your circumstances change
If your financial circumstances or income changes at any time, or you become unemployed, you must notify customer services as soon as possible after these changes occur.
6. Address
6.1 You agree that the address or the email address that you have provided to us at time of opening your TFG Money Account is the address where we must send all communication as well as legal communication to you and that such communication will be binding on you.
6.2 You must let us know in writing of any change to your address/email address, telephone or cellular phone numbers. If you fail to give notice of such a change, we may use the last information we have for you.
6.3 You will be deemed to have received a notice or letter five (5) Business Days after we have posted it to the address you have given us, and an email/SMS on the same day that it was sent.
7. Your monthly TFG Money Account statement “statement”
7.1 You agree that we may provide you with statements periodically (at least once every 90 days).
7.2 We will send the statements to the address you elected in the Credit Agreement, or to your e-mail address or via SMS.
7.3 The statements will, amongst others, show: all transactions relating to your TFG Money Account, including all interest and other charges debited or credited to your TFG Money Account, the minimum amount that is payable to us on or before the Due Date stated on the statement, and the total amount due on your TFG Money Account.
7.4 An amount equal to or more than the minimum amount due must be paid to us on or before the Due Date. Non-availability of a statement shall not be a cause to withhold or reduce any amount due and payable to us. Information about your TFG Money Account and your payment obligations can also be obtained from customer services, on our website, or from any of our stores.
7.5 If you have not denied liability regarding a debit on your TFG Money Account and/or raised a query regarding the correctness of any statement within 30 (thirty) days from the date of the statement, you shall be deemed to have admitted liability to us in respect of the debit and to have accepted the statement as true and correct, unless you are able to prove the contrary.
8. Paying your TFG Money Account
8.1 We have the discretion to decide the minimum monthly amount payable (“Instalment”) by you.
8.2 You may make payments at any TFG store, by electronic funds transfer (as set out in your statement), or online. The payment method you choose is at your risk, and we will only consider a payment as properly made when we have received it and credited it to your TFG Money Account.
8.3 We will credit each payment made at the date of receipt of the payment, as follows -
8.3.1 firstly towards any due or unpaid interest;
8.3.2 secondly towards any due or unpaid fees or charges; and
8.3.3 thirdly to reduce the amount of principal debt (the amount that becomes due when goods and services are purchased).
8.4 If your TFG Money Account has been credited with an early payment, we will allocate that credit towards your monthly Instalment payment for subsequent months, after which your monthly Instalment will again become due and payable. Early payments will not be credited towards subsequent months where a contractual payment is due monthly (such as a monthly subscription).
9. Interest, costs and fees that we may charge you
9.1 We may charge an initiation fee for the preparation costs of this Agreement or a service fee for the routine administration of your TFG Money Account. We will inform you in the Credit Agreement if we charge these fees.
9.2 The interest rate payable by you will be the interest rate set out in the Credit Agreement, which is a variable rate. The total interest payable as well as the amount of the repayments stated in the Credit Agreement may change if the FGRR changes. We will notify you on your monthly statement of the date on which the new rate takes effect, within 30 (thirty) Business Days of the interest rate change.
9.3 Interest is calculated daily on your full outstanding balance and compounded monthly. We are entitled to add any unpaid interest to the outstanding balance and the principal debt.
9.4 Interest on Suspensive Interest Plans:
9.4.1 If your Suspensive Interest Plan is not in arrears at the beginning of the month, and you pay your full Instalment on or before the Due date, the interest as set out in clauses 9.2 and 9.3 above will not be charged.
9.4.2 If you do not pay your full Instalment by the Due Date, interest will be charged as per clauses 9.2 and 9.3 above from the date when the purchases were made under this Plan until you have brought your TFG Money Account up to date.
9.5 We will charge you collection costs each time you miss one or more payments, or short-pay or you do not pay on the Due date, and as a result we have to write a letter/e-mail, send a SMS or call you to advise you of your default.
9.6 We may also charge for telephone calls and electronic communication if letters/emails/SMS/calls are made or sent to an address/e-mail that you have provided us with and are not delivered, or if a voicemail is left on your phone.
9.7 If we hand your TFG Money Account over to Attorneys or debt collectors for legal collection, you will be liable for their costs in full.
9.8 If we have to institute or defend any legal action of any nature whatsoever against you, you will be liable for all legal costs incurred by us, including but not be limited to: legal costs on the “attorney and client scale”, collection charges, tracing fees and all necessary disbursements plus tax thereon (if applicable).
10. Terminating your Agreement with us
10.1 You may terminate this Agreement at any time by advising customer services and on the conditions set out below. The date on which this Agreement ends or terminates will be called the settlement date.
10.2 If you terminate this Agreement, you must pay us the settlement value on the settlement date. The settlement value will include the following amounts as at the settlement date:
10.2.1 the unpaid balance of the principal debt; and
10.2.2 the unpaid interest and all other fees and charges you owe.
10.3 We may terminate this Agreement on notice to you if you fail to comply with these Terms.
11. If you fail to pay your TFG Money Account or comply with these Terms
11.1 You will be in default under this Agreement if -
11.1.1 you do not pay any amount payable to us under this Agreement on the Due Date; or
11.1.2 you breach any of the Terms of this Agreement and you do not remedy the breach; or
11.1.3 any representation or warranty made in connection with this Agreement or any other documents supplied by you is materially incorrect or false; or
11.1.4 you –
11.1.4.1 publish notice of the voluntary surrender of your estate or die; or
11.1.4.2 commit an act of insolvency; or
11.1.4.3 have any application or other proceedings brought against or in respect of you in terms of which a third party seeks to have you sequestrated or placed under curatorship, in any event, whether in a manner which is provisional or final, voluntary or compulsory.
11.2 If you are in default, we may give you written notice of such default via post, email or SMS, or commence legal proceedings to enforce this Agreement.
11.3 If you fail to pay any amount that is due, or, you fail to comply with any conditions of your Agreement, then:
11.3.1 all amounts owing by you to us may become due and payable immediately, at the discretion of TFG, and in the case of your estate being sequestrated, we will lodge a claim for the full amount outstanding on your TFG Money Account, plus further interest; and
11.3.2 we may suspend your TFG Money Account and give you 10 (ten) days’ notice before closing your TFG Money Account, in which event you will be required to repay the TFG Money Account in full and on demand.
12. How we may process your Personal Information (PI)
12.1 For as long as you have a TFG Money Account, you expressly agree that:
12.1.1 we may collect and retain your PI, for the purposes of opening and maintaining your TFG Money Account with us and establishing and verifying your identity;
12.1.2 we may make any enquiry to confirm and verify any information provided by you to us at any stage including at Application;
12.1.3 you will give us honest, accurate and up-to-date PI and maintain and update such information where necessary;
12.1.4 we may maintain your PI for as long as we need to by law in order to maintain your TFG Money Account;
12.1.5 you have the right to access your PI held by us, during office hours within a reasonable time after we have received such a written request for access;
12.1.6 you have the right to request us to correct or delete your PI that is inaccurate, irrelevant, excessive, out of date, incomplete, misleading or obtained unlawfully;
12.1.7 You have the right to object to the processing of your PI at any time in which event we will no longer be able to manage your TFG Money Account, and it will be closed after payment of any amount due by you (see Termination clause 10 above).
12.1.8 you may be subject to a decision, which results in legal consequences for yourself or which affects you to a substantial degree, which is based solely on the basis of automated processing of your PI You may make representations to us about a decision made in this regard.
12.1.9 we may transfer your PI to a third party who is in a foreign country for purposes of Application for or maintaining your TFG Money Account .
12.2 You expressly consent that we may share your PI with:
12.2.1 Credit bureaus and other sources from time to time. We will share information concerning your Application, this Agreement and the termination thereof as well as information about your TFG Money Account and non-compliance with the terms of this Agreement. You acknowledge that the credit bureaus will provide a credit profile and possibly a credit score on your credit worthiness. You have the right to contact a credit bureau, to have the credit record(s) disclosed to you and to correct any inaccurate information. You acknowledge that we may also utilise alternative profile information such as: historical cash purchase behaviour at TFG, educational qualifications, household structure data, mobile device data, geographical data and/or property ownership when assessing your Application;
12.2.2 other companies to share positive and negative information about you or your TFG Money Account, including any non-compliance with the Terms of this Agreement;
12.2.3 payment processing service providers, merchants and banks and other persons that assist with the processing of your payment instructions;
12.2.4 law enforcement and fraud prevention agencies and other persons tasked with the prevention and prosecution of crime to prevent futuristic identity fraud;
12.2.5 Governmental departments, local and international tax authorities and other persons that we, in accordance with applicable laws, are required to share your PI with;
12.2.6 our service providers, agents and sub-contractors that have been contracted by us, including Attorneys and Debt Collecting agencies;
12.2.7 persons to whom we cede our rights or delegate our authority to in terms of this Agreement, without your consent and without notice to you. We may sell your TFG Money Account to third parties in the event that you have defaulted on your TFG Money Account. In such an event the third party will then process your PI.
12.2.8 third parties for the express purpose of them marketing their services and products to you, as per clause 13 below.
12.3 You acknowledge and expressly consent that we may process your PI for purposes of:
12.3.1 managing your TFG Money Account and your TFG Rewards membership, and enabling us, and any of our authorised representatives to fulfil our obligations in terms of this Agreement;
12.3.2 enabling us to detect fraud and criminal activities and to take the necessary measures to prevent any suspicious or fraudulent activity on your TFG Money Account;
12.3.3 processing your purchasing information for: market and product analysis; customer analysis; monitoring your buying patterns, and using credit bureau data to enrich your profile to enable us to improve our personalised marketing offers to you; generating statistical and research reports for TFG use. Should we produce such research or statistical reports for external use, these reports will not contain any PI that identifies you;
12.3.4 interacting with you via various means including but not limited to: telephonic, in writing, email, SMS and WhatsApp.
13. Direct Marketing
13.1 If you opt-in at time of opening your TFG Money Account, or any later stage, to receive direct marketing from us, we will send you marketing information and promotional offers as per clause 13.2 below (“the Marketing Services”) from all of our brands across all the marketing channels you have opted-in to, which include: email, SMS/MMS, post and telemarketing (“the Channels”). When you opt-out of a particular Channel, you are opted-out of the Channel for that brand that was communicating to you when you opted out. In order to opt-out of all Marketing Services (for all brands and channels), please contact customer services. It could take up to 48 hours for your updated election to take effect.
13.2 The following brands, products and services are part of TFG and could market to you:
13.2.1 the retail brands listed in clause 1.15;
13.2.2 TFG Rewards, Bash, TFG Media and TFG Money;
13.2.3 TFG airtime/data offerings.
13.2.4 Additional brands, products and services may be added from time to time.
13.3 We may market any the Marketing Services to you on Saturdays, Sundays and public holidays. We will not do this if you opt-out.
13.4 Each time we send you Marketing Services via the Channels, we will give you the option to opt-out of receiving further Marketing Services via that Channel from that brand.
13.5 Please ensure your contact details are kept up to date to ensure you receive Marketing Services, as we will not be held responsible if you do not receive personalised offers and information on limited time deals in the event that your contact details have changed.
13.6 If you agreed to TFG sharing your PI with selected business partners to market their products to you:
13.6.1 your PI and your purchasing behaviour, as visible to TFG, will be shared with selected third parties. These third parties will process your PI for the express purpose of conducting analytics to develop insights as well as to market their services and products to you in a relevant way. Third parties may contact you in various ways including but not limited to phone, SMS, email, and direct mail.
13.6.2 you can contact customer services at any time to opt out of all third party data sharing and marketing.
14. Failure/Malfunction of networks and devices
We will not be responsible for any failure, malfunction or delay of any networks or electronic or mechanical device or terminal used in the acceptance and processing of transactions and any other use of the Card and will not be liable for any damages, losses, claims or expenses suffered or incurred by you.
15. Your acknowledgements, representations and warranties
15.1 By signing this Agreement you acknowledge that –
15.1.1 you have the full capacity to effect and carry out your obligations in terms of this Agreement and that the terms of this Agreement do not conflict with and do not constitute a breach of the terms of any other agreement or undertaking that is binding to you;
15.1.2 all information that you provided to us in connection with this Agreements is in all aspects true, complete, current and accurate, and you are not aware of any material fact or circumstances not disclosed to us, which if disclosed, would adversely affect our decision to grant credit to you;
15.1.3 this Agreement has been explained to you and you understand and appreciate the costs, risks and obligations associated herewith;
15.1.4 as at the date of your application for credit with us, you have not taken up any additional credit.
15.2 If you are married in community of property or by customary law, you warrant that your spouse has consented to the conclusion of this Agreement in writing.
15.3 You have read these Terms and confirm that you understand their content, the meaning of which has been explained to you.
16. Our contact details
16.1 Please ensure your contact details are correct, and advise us of any changes to your contact details via: e-mail - [email protected]; post - PO Box 6020, Parow East, 7500, South Africa; and; telephone - +27 21 938 7096
16.2 TFG Credit Forensics can be contacted via e-mail - [email protected]/telephone - +27 21 938 7415
17. General terms
17.1 We may monitor and record all phone calls and other interactions with you.
17.2 If we have not strictly enforced the Terms of this Agreement at any time, you may not assume that the Terms have been waived or altered by us. These Terms will still apply and we will have the right to enforce these Terms at any time.
17.3 We may provide a certificate from any of our managers, whose position it will not be necessary to prove, showing the amount that you owe to us. You agree that we may take any judgement or order that we are entitled to in law based on the amount contained in the certificate, unless you disagree with such amount and are able to satisfy the court that the amount in the certificate is incorrect.
17.4 This is the whole Agreement and no changes or cancellations will be valid unless it is in writing and signed by both parties or is voice logged by us and subsequently reduced to writing, except for unilateral changes made by us.
17.5 This Agreement is governed by the laws of Lesotho.
17.6 Any claim that may arise may be recovered in any Magistrate’s court having jurisdiction and you hereby consent to the jurisdiction of the Magistrate’s Court.
17.7 We may amend or replace these Terms at any time and you will be bound to any changes made, and in such an event, a new agreement will not automatically come into being between us.
17.8 As a TFG Money Account customer you are automatically a member of TFG Rewards. Visit www.bash.com for more information.
If, after reading the Agreement and after we have explained it to you, you are still uncertain of your rights and your financial risk and obligations, we recommend that you obtain independent legal advice.
By signing the Credit Agreement you acknowledge and agree that you understand the Agreement, your rights, financial risk, and obligations, and that you are aware of and have paid special attention to all the terms printed in bold.
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