The mortgagor under a mortgage agreement; The borrower under a secured loan; The lessee a lease; The guarantor under a credit guarantee; or The to whom or at whose direction money is advanced or credit granted under any other credit agreement. Credit provider The party who supplies goods or services under a discount transaction, incidental credit agreement or instalment agreement; The who advances money or credit under a pawn transaction; The who extends credit under a credit facility; The mortgagee under a mortgage agreement; The lender a secured loan; The lessor under a lease; The party to whom an assurance or promise is made under a credit guarantee; The party who advances money or credit to another under any other credit agreement; or Any other person who acquires the rights of a credit provider under a credit agreement. Educational loan A student loan; A school loan; or Another credit agreement entered into by a consumer for purposes related to the consumer’s adult education, training or skill’s development. Incidental credit agreements Incidental credit agreement: means an agreement, irrespective of its form, in terms of which an account was tendered for goods or services that have been provided to the consumer, or goods or services that are to be provided to a consumer over a period of time and either or both of the following conditions apply: A fee, charge or interest became payable when payment of an amount charged in terms of that account was not made on or before a determined period or date; or Two prices were quoted for settlement of the account, the lower price being applicable if the account is paid on or before a determined date, and the higher price being applicable due to the account not having been paid by that date.
The mortgagor under a mortgage agreement; The borrower under a secured loan; The lessee a lease; The guarantor under a credit guarantee; or The to whom or at whose direction money is advanced or credit granted under any other credit agreement. Credit provider The party who supplies goods or services under a discount transaction, incidental credit agreement or instalment agreement; The who advances money or credit under a pawn transaction; The who extends credit under a credit facility; The mortgagee under a mortgage agreement; The lender a secured loan; The lessor under a lease; The party to whom an assurance or promise is made under a credit guarantee; The party who advances money or credit to another under any other credit agreement; or Any other person who acquires the rights of a credit provider under a credit agreement. Educational loan A student loan; A school loan; or Another credit agreement entered into by a consumer for purposes related to the consumer’s adult education, training or skill’s development. Incidental credit agreements Incidental credit agreement: means an agreement, irrespective of its form, in terms of which an account was tendered for goods or services that have been provided to the consumer, or goods or services that are to be provided to a consumer over a period of time and either or both of the following conditions apply: A fee, charge or interest became payable when payment of an amount charged in terms of that account was not made on or before a determined period or date; or Two prices were quoted for settlement of the account, the lower price being applicable if the account is paid on or before a determined date, and the higher price being applicable due to the account not having been paid by that date.
Compliance_Training_Handbook_2013_V2.docx