Collections

6 Signs that you may be dealing with runaway debtors

Payment within 30 (thirty) days from date of invoice has become as scarce as the rain in Cape Town. It has become increasing difficult for debtors to pay timeously and regularly. Whilst some debtors are quick to communicate their challenges and opt for restructuring or extensions, others choose to stick their heads into a hole …

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Understanding Mora Interest and the Prescribed Rate of Interest Act

(Updated on the 2 March 2022) The Prescribed Rate of Interest Act (Act 55 of 1975) sets the maximum rate of interest that can be charged on mora interest (over-due payment) and also governs interest awarded granted by the South African court in their judgments. Mora interest applies where payment is due, and the rate …

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