1. Definitions used in this document
In this Agreement, unless the context indicates differently-
1.1 "Account" means the single-purchase Big Buy account opened in Your name to which We will debit Your Purchase, which is repayable over 18, 24 or 36 months as agreed with You in terms of this Agreement. This Account is only available in South Africa at selected TFG stores. You can only have a maximum of four Big Buy Accounts at any time;
1.2 "Agreement" means the Credit Agreement that You accept in store as well as these terms and conditions ("Terms"), and includes all notices that We send to You;
1.3 "Application" means Your application for the Account, which can be done at selected TFG stores;
1.4 "Business Day" means any day except for a Saturday, Sunday or public holiday;
1.5 "Credit Agreement" means the credit agreement which You agreed to, and signed in store when opening Your Account;
1.6 "Credit Advanced" means the maximum approved amount of credit granted to You in terms of Your Credit Agreement;
1.7 "Due Date" means the date on which a payment is due, as set out in the statement of account;
1.8 "FGRR" means The Foschini Group Reference Rate, which is the rate of interest determined by TFG from time to time and is linked to the ruling South African Reserve Bank Repurchase Rate (the "repo" rate);
1.9 "NCA" means the National Credit Act, no 34 of 2005, and Regulations, as amended;
1.10 "Personal Information" means personal information as defined in the Protection of Personal Information Act 4 of 2013 ("POPIA");
1.11 "Process/Processing" has the same meaning assigned thereto in POPIA;
1.12 "Purchase" means a single purchase transaction made in selected TFG stores. Certain goods may not be available for purchase on Big Buy including, but not limited to, gift cards, airtime or airtime contracts, magazine subscriptions and cellphones. Ask in store for details;
1.13 "TFG" means Foschini Retail Group (Pty) Ltd, registration number 1988/007302/07, a registered credit provider, NCRCP 36, and an authorised financial services provider. Our address is Stanley Lewis Centre, 340 Voortrekker Road, Parow East, 7500. 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;
1.14 "We", "Us" and "Our" means TFG;
1.15 "You" / "Your" means the person who has agreed to enter into this Agreement and whose details are recorded on the Credit Agreement, as "consumer";
1.16 A reference to legislation is a reference to the legislation as at the date of enactment of the legislation or as it is amended or re-enacted from time to time, and includes all Regulations issued under that legislation;
1.17 The headings of the various clauses in this Agreement have been inserted purely for the purposes of convenience and they will not be used to interpret the Agreement;
1.18 Any reference to a gender includes the other genders;
1.19 The singular includes the plural and vice versa.
2. Your application for credit with Us
2.1 You have accepted the Big Buy Account 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 Big Buy Account, subject to the Agreement.
2.3 We will issue You with an Account card (the "Card").
2.4 We will debit Your purchase, including charges and fees, to Your Account, on these Terms.
2.5 We may, in our sole discretion, request You to provide supporting documentation to Us at the time of applying for Your Account.
3. Use of Your Account
3.1 Your Card can only be used for a single Purchase on Your Big Buy Account, at selected TFG stores. You must Purchase on Your Account within thirty days of Your Account being opened (the "Initial Purchase"), failing which Your Account will automatically close.
3.2 You must sign the sales voucher when You make Your Purchase to confirm receipt of the goods and/or the services.
3.3 If Your Card is lost or stolen, or You suspect fraud on Your Account, You must call the Customer Services Department (see clause 17 below for contact details), as soon as You discover the loss.
3.4 Your Card will remain our property and We may cancel, suspend or demand the return of Your Card at any time.
3.5 If Your Account has been used fraudulently, You must lodge a claim with Us within 30 (thirty) days of the date You become aware of it. 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.
3.6 You may be required to pay a deposit when making Your Purchase. You will be advised about this in store and it will be displayed on the Quotation as well. You may also choose to pay a deposit at time of Purchase.
3.7 This is not a revolving credit facility. Once Your Account is paid in full, it will be closed.
4. Credit Advanced to You
4.1 Your Purchase is limited to the Credit Advanced to You.
4.2 We may, in our sole discretion, decide to extend the term of Your Account 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, or go under debt review in terms of the NCA, You must notify our Customer Services Department as soon as possible after these changes occur.
6.1 You agree that the address or the email address that You have provided to us at the time of opening your 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 or Your email address, telephone or cellular phone numbers. If You fail to give notice of a change of address, We may use the last information We have for You.
6.3 You accept that 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.
7. Your monthly statement of account
7.1 You have agreed that We may provide You with statements of account periodically (at least once every 90 (ninety) days).
7.2 We will send the statements of account to the address You elected in the Credit Agreement or to Your chosen e-mail address or via sms. You can also view Your statements online by registering on www.tfg.co.za.
7.3 The statements of account will, amongst others, -
7.3.1 show all transactions relating to the Account, including;
7.3.2 all interest and other charges debited or credited to the Account;
7.3.3 inform You of the minimum amount that is payable to Us on or before the Due Date stated on the statement; and
7.3.4 show You the total amount due on Your Account.
7.4 No amount less than the minimum amount due must be paid to Us by the Due Date via Debit order. You may pay additional amounts via EFT.Non-availability of a statement shall not be a cause to withhold or reduce any amount due and payable to Us. Information about Your Account and Your payment obligations can also be obtained from our Customer Services department, on our website, or from any of our stores.
7.5 If You have not denied liability regarding a debit on the 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 statements as true and correct, unless You are able to prove the contrary.
8. Paying Your Account by Debit Order
8.1 We have the discretion to decide what the minimum monthly amount payable ("Instalment") is.
8.2 Your monthly payment can only be made via debit order.
8.3 We will credit each payment made, as of the date of receipt of the payment, as follows -
8.3.1 firstly, to satisfy any due or unpaid interest;
8.3.2 secondly, to satisfy any due or unpaid fees or charges; and
8.3.3 thirdly, to reduce the amount of Principal Debt, which is the amount that becomes due when You purchase on Your Account.
8.4 You can choose to pay more than the minimum monthly instalment. If You pay more than the required monthly instalment, Your payment term may be reduced accordingly, but Your monthly instalment will remain the same.
8.5 Debit order terms and conditions:
8.5.1 You confirm that the bank details provided by You are correct and You authorise TFG to debit against Your account the full instalment due as reflected on Your monthly statement, on the date selected by you, until Your Account is paid in full.
8.5.2 Mandate: You acknowledge that all payment instructions issued by You shall be treated by your Bank as if the instructions were issued by You personally.
8.5.3 The abbreviated name that will appear on Your bank statement is TFGBIGBUY/ Your account no.
8.5.4 Due to various monthly charges, Your debit order amount may vary monthly.
8.5.5 If Your banking details have not been provided accurately, or if Your details change at any time in the future and You fail to notify Us of any such changes, or if payments are not made in accordance with Your debit order instruction, the responsibility of payment will rest with You.
8.5.6 You agree to pay any bank charges relating to the Debit Order instruction, including any fees relating to a debit order rejection.
8.5.7 TFG will debit Your amount due on your selected date, however TFG reserves the right to adjust your debit order date to match the flow of funds in your Account. You will receive notification via SMS or e-mail of such change in deduction date.
8.5.8 We reserve the right to track Your account to collect the amount due.
8.5.9 Cancellation: You agree that although your debit order Mandate may be cancelled by you, such cancellation will not cancel Your Agreement and a further debit order Mandate will have to be granted to TFG as long as Your Account is still open. You will not be entitled to any refunds of amounts which TFG has withdrawn while this Mandate is in force if such amounts were legally owing to TFG.
8.5.10 Assignment: Your debit order authority instruction cannot be assigned to any third party unless Your credit agreement is ceded or assigned to a third party in which event You acknowledge that this authority may be ceded or assigned to that third party.
8.5.11 Receipts of this instruction by TFG shall be regarded as receipt thereof by Your bank.
8.5.12 You confirm that We may perform an account verification on Your bank account with Your nominated bank.
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, which will be reflected on the Quotation and Credit Agreement
9.2 You agree to pay the monthly service fee on the Due Date. This fee is for the routine monthly administration of Your Account. If You do not pay this fee on time, it will be added to the outstanding balance and interest will be charged thereon.
9.3 The initiation and service fees will never exceed the maximum amount which may be allowed under the NCA for this purpose from time to time.
9.4 We may change the frequency of the service fee from monthly to annually, in which event We will advise You of this in writing.
9.5 The interest rate payable by You will be the interest rate set out in the Credit Agreement, which rate may be varied, as per 12.1 below.
9.6 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.
9.7 We will charge You collection costs each time You miss one or more payments and We have to write a letter or email / send a SMS / call You to advise You of Your default.
9.8 We will also charge for telephone calls and electronic communication if they are made or sent to a telephone number / e-mail address that You have provided Us with, and are not delivered, or if a voicemail is left on Your phone.
9.9 If We hand Your Account over to Attorneys or debt collectors for legal collection, You will be liable for their costs in full.
9.10 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 limited to: legal costs on the "attorney and client scale", collection charges, tracing fees and all necessary disbursements plus value added tax (VAT) thereon. These costs will be charged to Your Account.
10. Big Buy Account Balance Protection (an optional "product"):
10.1 Big Buy Account Balance Protection provides that, in the event of Your death, an amount equal to Your outstanding balance on Your Account will be credited to Your Account.
10.2 Guardrisk Life Limited, an authorised financial services provider, underwrites the product.
10.3 The separate policy and disclosure notice that will be given to You is applicable to the product, and is binding on You, in addition to this Agreement. The policy and disclosure notice gives details on when and how the benefit may be claimed and by whom, exclusions and waiting periods applicable to the benefit under the product and grace periods applicable for payment of the premium by You.
10.4 If the monthly premium for this product is not paid in the month in which it is due, a grace period as per the product terms and conditions will be allowed for payment, and if payment is not made within this grace period, the cover under the product will end.
10.5 You agree that We may charge Your Account and collect the premium as stated in Your monthly statement. The premium billing will attract interest, as per clause 9 above, which interest We retain.
10.6 Where Your Account is frozen because of proceedings under the NCA, or because You have gone under debt review, no premium will be billed and the insurance cover under the product will end.
11. Terminating Your Agreement with Us
11.1 You may terminate this Agreement at any time by advising our Customer Services department and on the conditions set out below.
11.2 The date on which this Agreement ends or terminates will be called the "Settlement Date".
11.3 If You terminate this Agreement, You must pay Us the total amount due on the Settlement Date. This amount will include the following amounts at the Settlement Date:
11.3.1 the unpaid balance of the Principal Debt; and
11.3.2 the unpaid interest and all other fees and charges You owe.
11.4 We may terminate this Agreement on notice to You if You fail to comply with these Terms.
12.1 This Agreement is subject to a variable interest rate, and the amount of the total interest 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 that date.
12.2 We may change the amount of the service fees or other fees and charges payable by You by giving You at least 5 (five) Business Days' notice in writing of the change.
13. If You fail to pay Your Account or comply with these Terms
13.1 You will be in default under this Agreement if -
13.1.1 you do not pay any amount payable to Us under this Agreement on the Due Date; or
13.1.2 you breach any of the Terms of this Agreement and You do not remedy the breach; or
13.1.3 any representation or warranty made in connection with this Agreement or any other documents supplied by You is materially incorrect or false;
13.1.4 you -
220.127.116.11 publish notice of the voluntary surrender or Your estate or die;
18.104.22.168 are placed under administration or commit an act of insolvency as defined in the Insolvency Act 24 of 1936;
22.214.171.124 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.
13.2 Our rights if You are in default -if You are in default, We may:
13.2.1 give You written notice of such default via post, email or sms;
13.2.2 propose that You refer this Agreement to a debt counselor, alternative dispute resolution agent, consumer court or ombud with jurisdiction, with the intention that the parties resolve any dispute under this Agreement or develop and agree on a plan to bring repayments up to date;
13.2.3 commence legal proceedings to enforce this Agreement if -
126.96.36.199 we have given You notice as referred to in 13.2.2 above or We have given notice to end any debt review process which may be underway in respect of this Agreement; and
188.8.131.52 You have been in default of this Agreement for at least 20 (twenty) Business Days; and
184.108.40.206 at least 10 (ten) Business days have passed since We delivered a notice to You contemplated in 13.2.2; and
220.127.116.11 in the case of the notice sent to You, have not responded to that notice, or rejected our proposal.
13.3 If You fail to pay any amount that is due, or, You fail to comply with any conditions of Your Agreement, then -
13.3.1 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 or You going under administration, We will lodge a claim for the full amount outstanding on Your account, plus further interest; and
13.3.2 We may suspend Your Account and give You 10 (ten) days' notice before closing Your Account, in which event You will be required to repay the Account in full.
14. How We may process Your Personal Information
14.1 You agree and consent thereto that We may transmit to (a) registered credit bureau(x), or any organisation representing credit bureau(x) information concerning -
14.1.1 Your Application, this Agreement and the termination thereof as well as information about Your Account;
14.1.2 any non-compliance by You with the terms of this Agreement.
14.2 You acknowledge that such a credit bureau will provide a credit profile and possibly a credit score on Your credit worthiness. You have the right to contact such credit bureau(x), to have the credit record(s) disclosed to You and to correct any inaccurate information.
14.3 You agree that We may -
14.3.1 make enquiries to confirm and verify any information provided by You on Application;
14.3.2 seek information from any credit bureau when assessing Your application and at any time during the existence of Your Account;
14.3.3 perform an account verification with Your nominated bank.
14.4 You acknowledge and expressly consent that We may -
14.4.1 Process Your Personal Information to conclude this Agreement and for purposes of maintaining Your Account and complying with Your instructions;
14.4.2 Process Your Personal Information for purposes of the prevention and detection of fraud and criminal activities, the identification of the proceeds of unlawful activities and the combating of money laundering activities; and -
14.4.3 Share your information with third parties for the express purpose of them marketing their services and products to you. We will only do this in the event that you have consented to us giving your name and contact information to parties outside of TFG for marketing purposes when opening your Account.
14.5 You have the right to access Your Personal Information held by Us. We will grant You such access during office hours within a reasonable time after receiving such a written request for access.
14.6 We may share positive and negative information about You or Your Account, including any non-compliance with the Terms of this Agreement, with other companies.
14.7 We will only keep Your Personal information for as long as We need to or have to by law.
14.8 Should Your Account go into arrears at any time, We may forward Your Personal Information to third party agencies and/or Attorneys.
14.9 We may transfer our rights and obligations under this Agreement to a third party without Your consent and without notice to You. In such an event the third party will then process Your Personal Information.
14.10 You may update Your Personal Information at any time by calling customer services.
15. 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.
16. Your acknowledgements, representations and warranties
16.1 By signing this Agreement You acknowledge that -
16.1.1 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;
16.1.2 all information that You provided to Us in connection with this Agreement 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:
16.1.3 You are not subject to an administration order or under debt review;
16.1.4 this Agreement has been explained to You and You understand and appreciate the costs, risks and obligations associated herewith;
16.1.5 as at the date of Your Application for credit with Us, You have not taken up any additional credit;
16.1.6 You have not stipulated a child grant as income for purposes of assessing your affordability.
16.2 If You are married in community of property, You warrant that Your spouse has consented to the conclusion of this Agreement in writing and that his/her signature has been attested by two witnesses.
16.3 You have read these terms and confirm that You understand their content, the meaning of which has been explained to You.
16.4 You have the right to resolve any dispute that may arise between Us by way of alternative dispute resolution, or to file a complaint with the National Credit Regulator, or to make an application to the Consumer Tribunal.
17. Our contact details
17.1 Customer Services can be contacted via:
17.2 The Credit Ombudsman can be contacted on 086 1662837
17.3 The National Credit Regulator can be contacted on 086 0627627
18. General terms
18.1 We may monitor and record all phone calls and other interactions with You.
18.2 You may request this document and certain other documents in Afrikaans, IsiXhosa and Sesotho.
18.3 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.
18.4 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.
18.5 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 forunilateral changes made by Us in accordance with the NCA.
18.6 This Agreement is governed by South African Law.
18.7 In terms of Section 45 of the Magistrate's Court Act 32 of 1944 and at our option, 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.
18.8 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.
19.1 Subject to TFG's return policy, You may return Your Purchase for a full refund of the purchase price, within 30 (thirty) calendar days of Initial Purchase. All fees that were billed to Your Account before the refund will be reversed and Your Account will then be closed, subject to 19.2 below.
19.2 You may not return Your Purchase later than 30 (thirty) days after Your Initial Purchase.
19.3 Should You wish to make an additional Purchase after the refund has been processed, You must do so on the same day that the refund is processed and You may only purchase up the value of the refunded item(s).
19.4 In the event that You are entitled to a cash refund, this will be refunded into Your nominated bank account within seven to ten working days after You have provided Us with proof of Your bank account details. If there is no further balance on Your Account, Your Account will be closed.
20. Special orders for jewellery
20.1 Special orders include requests for personalised items, bespoke items, customised items, branded collection items and certain accessories (see terms and conditions for special order for further information);
20.2 Payments for special orders on a TFG Big Buy Account:
20.2.1 The full quoted price of the item at the time of placing the special order will be debited to Your TFG Big Buy Account.
20.2.2 Depending on the period of time it takes to have Your item made, You may have to pay one or more monthly instalments, which will include interest and fees, before You receive Your item.
20.3 If You cancel your special order for a customised item, branded collection item or accessory item before collection, or do not collect these special order items within 30 calendar days after notice of completion was sent to You, or return or exchange these special order items, subject to clause 19 above, You will receive a refund of all instalments paid by You until time of cancellation, return or exchange, less any interest and service fees billed to Your Account up to that date.
20.4 If You cancel your special order for a personalised or bespoke item before collection, or do not collect these special order items within 30 calendar days after notice of completion was sent to You, or wish to return these special order items, You will not be entitled to a refund, exchange or credit, unless the item is defective.
20.5 For hygiene reasons, We do not accept returns or exchanges of items used for piercings, such as earrings.
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 theAgreement, Your rights, financial risk, and obligations, and that You are aware of and havepaid special attention to all the terms printed in bold.