2. Report back session
2.1. Compliance Allen reported that:
1. Working points:
1.1. Allen reported that a formal complaint was lodge with SARS regarding the delay process on the refund payment. Case number 204411746 was opened. Confirmation letter was received on the 30 June 2016.
1.2. Ryneveld requested Allen to supply him with an updated SARS compliance schedule. Allen noted the request.
1.3. Letitia and Allen will schedule a meeting for the related party transactions between Bridge Corporate and its subsidiaries.
1.4. Allen informed all that the action list needs to be updated on a daily basis. Failure to do so, will prove that management …show more content…
Sandra informed all, due to the Employment Equity (“EE”) plan that was submitted, Bridge committed itself to social responsibility requirements. Sandra will informed all regarding the first function.
1.3. Access cards (Tags), Sandra will report back on the progress (currently busy resolving).
1.4. Atrium Building, in terms of the contract Bridge remains responsible for the building until the 31st of July 2016. Sandra will ensure that the maintenance of the building is uphold until the 31st of July 2016.
1.5. Sandra requested all to view the policies as published in the Management folder. To comment where needed.
b. IT 1. Working points:
1.1. A meeting is scheduled Tuesday with CPA (Project Evolution), to ensure that (from a Bridge point of view) all tasks were completed.
1.2. Busy finalising the link for Recruiters. (This is to enable Bridge to link a recruiter against a specific loan application.)
1.3. Root systems (Jacobus) is busy preparing the architecture diagrams.
1.4. Printers – Lea is waiting for quotes. Ryneveld instructed Lea to inform Minolta that they can cancel their quote, this is due to the delay in their response time (2 weeks).
c. EDC Jaco reported that:
1. Admin / DC recoveries less than last …show more content…
New rules implemented as from 1 July 2016 (additions to the old requirements):
4.1. One (1) months bank statements required for all loan applications.
4.2. Nett Income Factor of 65% must be achieved.
f. Debt Management 1. Jakkie reported that the employees identified to phone the clients that disputed, was very positive.
2. Yesterday his department cleared R 1.2 Million in loan applications.
3. Disputes - Certain client promise to make a payment today, failure to honour their promises will result in the case to be handed over for legal collections immediately.
4. Busy with dispute data analysis.
5. Jakkie informed all that a very high risk was identified for Bridge Collections. This relates to the high number of disputes. The risk is that ABSA bank can remove their PASA licence, as a result, Bridge will not be able to recovery any monies from third parties.
6. A meeting was convened with Nupay, they will formalise their presentation within 7 days.
Letitia reported that:
1. Month end
2. Finalising queries from auditors.
4. Adjournment 1. There being there no further business to discuss the Chairman declares the meeting