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7 Cards in this Set
- Front
- Back
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Purpose |
~>Promotes social and financial interest of consumers. ~>Makes provision for establishment of NCR. ~>Prevent discrimination and ensure credit is available to all consumers. |
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What does NCR stand for? |
National Credit Regulator |
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What is NCR responsible for? |
For the regulations of the South African credit industry. All business has to be registered with NCR. |
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Advantages On Business |
Credit process is transparent. Lower bad debts results in better cash flow. Increases cash sales as credit can only be granted to qualifying consumers. |
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Disadvantages of NCA On Business |
Loss of sales as many customers may no longer qualify to buy on credit. Admin process is costly |
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Ways Business Can Comply With NCA |
Register with NCR Submit annual compliance report to NCR |
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Discriminatory actions of NCA |
Refusing credit to customers based on gender or race Charging different interest rates to customers based on gender and race |
