The duties of a Credit Risk Manager

Credit risk refers to the probability of loss due to a borrower’s failure to make payments on any type of debt. Credit risk management, meanwhile, is the practice of mitigating those losses by understanding the adequacy of both a bank’s capital and loan loss reserves...

Business rescue

Business Rescue Chapter 6 of the Companies Act 2008 (Act 71 of 2008) provides for the efficient rescue and recovery of financially distressed companies, in a manner that balances the rights and interests of all relevant stakeholders.  All businesses that are...

Liquidating or winding up your company

Liquidating or winding up your company Liquidation and deregistration are not the same thing. Liquidation Liquidation implies that the business is not able to pay its debts. Liquidation further implies that the business will cease to operate (generally as a result of...

Reasons why you should have a credit report done

We all know it is quite important to have credit reports compiled on potential clients, and even existing clients, as this minimises your future credit risk exposure. Having credit reports done on a regular basis, will keep bad debt surprises down to a minimum, and so...

What is prescription

What does prescription mean? * The Prescription Act 68 of 1969 (“PA”) says it means a debt (for example payment of money) is extinguished after the lapse (passing) of a time period. * South Africa had different laws which specify time periods, for example...