AGREEMENT TO PAY DEBT IN INSTALLMENTS
STUDENT DETAILS
(NB: the student is jointly and severally liable as a co-principal debtor for the payment of this debt.)
Name of Student _______________________________________________________________________________
ID Number of Student ___________________________________________________________________________
(A copy of student’s ID is required)
Current Nationality ______________________________________________________________________________
(If not South African a copy of Student’s working Visa is required)
Date of Birth ___________________________________________________________________________________
Age _____________________________________________________________________________________________
*Students under the age of 18 require the consent of a legal guardian
Street Address _________________________________________________________________________________
_____________________________________________________________________________________________
Contact Details _____________________________ (Home Number)
_____________________________ (Cell Phone Number)
_____________________________ (E-Mail address)
PARENTS DETAILS
Name ________________________________________________________________________________________
ID Number_______________________________________________________________________________________
(A copy of ID is required)
Street Address _____________________________________________________________________________________________
_____________________________________________________________________________________________
Contact Details _____________________________ (Home Number)
____________________________ (Cell Phone Number)
____________________________ (E-mail Address)
PARTICULARS OF PERSON PRIMARILY RESPONSIBLE FOR PAYING THE DEBT
(Please note: Whilst the person listed hereunder is liable to pay all monies which are due in terms of this agreement, the student is liable as surety and co-principal payer for the prompt payment thereof.)
Name ________________________________________________________________________________________
ID Number _____________________________________________________________________________________________
(A copy of ID is required)
Marital Status __________________________________________________________________________________
Domicilium Address _____________________________________________________________________________
_____________________________________________________________________________________________
*The domicilium citandi et executandi address must be a street address
Contact Details ____________________________ (Home Number)
__________________________ (Cell Phone Number)
__________________________ (E-mail address)
Occupation _____________________________________________________________________________________________
(Company Name) ______________________________________________________________________________
Employer Contact Details
Telephone _________________________________________________________________________________
E-mail ________________________________________________________________________________
Physical Address _______________________________________________________________________________
_____________________________________________________________________________
Have you ever been sequestrated? YES NO
Are you currently under debt review? YES NO
Have you had an application for credit refused in the last 12 months? YES NO
TOTAL CAPITAL DEBT DUE OWING AND PAYABLE: _______________________________________________
All signatories to this contract agree that:
I ……………………………………………………………. do hereby acknowledge liability to Waterfront Theatre School and their successors and/or assigns in the amount of R ……………………. (“the capital amount’) arising from the balance outstanding in respect of fees,
2.3 All payments due shall be made in cash free of bank charges deduction or set-off to the Creditor by deposit into the Creditor’s bank account with details:
…………………..Attorneys Trust Account
……………….Bank, ……………………………
Account Number: ………………………………
Branch Code: ……………………………..
Swift Code: …………………………….
3.1 Should I fail to make any payment on the due date of any amount owing in terms of this instrument, then I shall immediately be liable to repay the full capital outstanding plus all interest accrued on such amount outstanding at the rate of 2% per month compounded monthly in arrears.
3.2 In the event of me:
3.2.1 failing to make payment of any amount by due date; or
3.2.2 becoming the subject of sequestration, winding up or dissolution proceedings; or
3.2.3 effecting or offering a general compromise or deed of arrangement with creditors or with any class of creditors, or making any assignment for the benefit of creditors; or
3.2.4 suffering a judgment to be granted or entered against me in or by any Court of Law, and unreasonably failing to cause such judgment to be satisfied within a period of 10 (ten) days from the date of such judgment;
then the full amount of the capital amount outstanding, together with the interest payable thereon at 25% per annum compounded monthly in arrears, collection commission and/or legal costs will immediately become due and payable by me without prior notice and/or demand from the Creditor.
4.1 Without limiting the generality of the provisions contained in clauses above, should I breach any terms of this instrument and should the Creditor become entitled to enforce any of the provisions of this instrument, then without prejudice to any other rights which the Creditor may have and in addition to the Creditor’s common law rights, the full amount of the capital amount outstanding, together with the interest payable thereon, will immediately become due and payable by me without prior notice and/or demand from the Creditor.
4.2 A certificate signed by the Creditor or his personal accountant confirming the amount due and payable shall be sufficient prima facie evidence for the purposes of obtaining summary judgment or provisional sentence against me for the amount claimed in the Magistrate’s Court.
4.3 In the event that any breach is committed and it is necessary to take legal action in respect of the recovery of this money, then I consent to the jurisdiction of the Magistrate’s Court irrespective of whether the amount claimed is greater than the legislated jurisdiction of the Magistrate’s Court. I acknowledge that I am liable to pay any legal costs incurred in respect of any legal action taken against me for the recovery of any money outstanding in terms of this agreement on an attorney and client scale.
No extension of time or indulgence by either party to the other will be deemed in any way to affect, prejudice or derogate from the rights of such party in any respect under this instrument, nor shall it in any way be regarded as a waiver of any rights hereunder, nor a novation of this instrument.
No variation of this instrument will affect the terms hereof unless such variation is reduced to writing and signed by or on behalf of the parties.
SIGNED ON THIS ___________ DAY OF _____________ 20….
STUDENT __________________________________________
PARENT ____________________________________________
PRINCIPAL DEBTOR __________________________________
AS WITNESSES:
AGREEMENT TO BE SURETY AND CO PRINCIPALLY LIABLE TO PAY DEBT
I, the undersigned,
………………………………………………… (Student’s full name) ID No. hereby bind myself as Surety and Co-Principal PAYER to the WATERFRONT THEATRE SCHOOL hereinafter referred to as the WTS, for the due and proper fulfilment of all the obligations of :……………………………………………….(Payer’s full name) hereinafter referred to as the Payer, his/her successors in title, or assigns, for the due and punctual payment of all amounts currently due and payable, and to become due and payable in the future, by the Payer in respect of the repayment of fees as regulated by the WTS Fee Agreement to which this Suretyship is annexed.
I agree and declare that
SIGNED at on this day of 2013
AS WITNESSES:
STUDENT (SURETY)
PAYER (PERSON PRIMARILY RESPONSIBLE FOR PAYMENT OF DEBT)
ADDITIONAL SURETYSHIP AGREEMENT
I, the undersigned,
………………………………………………… (Surety’s full name) ID No. ………………………. hereby bind myself as Surety and Co-Principal PAYER to the WATERFRONT THEATRE SCHOOL hereinafter referred to as the WTS, for the due and proper fulfilment of all the obligations of :……………………………………………….(Principal Payer’s full name),hereinafter referred to as the Payer, his/her successors in title, or assigns, for the due and punctual payment of all amounts currently due and payable, and to become due and payable in the future, by the Payer in respect of the repayment of fees as regulated by the WTS Fee Agreement to which this Suretyship is annexed.
I agree and declare that
SIGNED at on this day of 2013
AS WITNESSES:
_____________________________
(SURETY)
______________________________
PAYER (PERSON PRINCIPALLY LIABLE FOR PAYMENT OF FEES.)