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AcknowledgementOfDebt

Cathrine Molefe acknowledges a debt of R9,500.00 to Milpark Education for the PG Dip in Risk Management, agreeing to pay this amount with 0% interest. Monthly payments are due on the 28th of each month, and failure to pay may result in legal action and additional costs. The document outlines the debtor's obligations, including potential interest rate increases and consent to jurisdiction for legal proceedings.

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3 views

AcknowledgementOfDebt

Cathrine Molefe acknowledges a debt of R9,500.00 to Milpark Education for the PG Dip in Risk Management, agreeing to pay this amount with 0% interest. Monthly payments are due on the 28th of each month, and failure to pay may result in legal action and additional costs. The document outlines the debtor's obligations, including potential interest rate increases and consent to jurisdiction for legal proceedings.

Uploaded by

cmmabo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Print date:

23 Jan 2025

ACKNOWLEDGEMENT OF DEBT - ACCOUNTS

Full Name Cathrine Molefe


Student Number MI0388019
ID Number 0009221441083

Hereby acknowledge that I (the debtor) am jointly and severally liable to Milpark Education (the
creditor), in the sum of R (hereinafter referred to as the Amount), and I jointly and severally undertake
to pay Milpark Education the Amount together with interest at the rate of 0% per annum as stated
below:

PG Dip (Risk Management)


Fundamentals of Risk Management (FURM01-8) R9,500.00

Module Amount R9,500.00

Terms fee R

AMOUNT R
Deposit amount (payable immediately) R

#Error R

The deposit is due immediately and monthly payments are due on the 28th of each subsequent month,
for the duration of the payment term, with first monthly payment due on .
Milpark Education bank account details:

Bank: Nedbank
Branch code: 123 209
Account number: 123 208 1361
Reference: Student number or Milpark Corporate Account Number

Should the debtor fail to make payment on the due date/s, Milpark Education shall demand the outstanding amount from the
debtor together with legal costs; failing which the creditor, without notice, shall be entitled to apply to the relevant
Magistrate’s Court for judgement against the debtor for the outstanding amount including legal costs – the debtor agrees to
judgement in this regard.

In the event of default, I shall be liable jointly and severally for all legal costs incurred in the collection of the outstanding
balance on the scale as between attorney and own client including commission on the Amount, interest costs, plus interest at
the rate of 11.5%/annum. Interest will be calculated and capitalised on the same day of each month, in arrears, on the
outstanding balance until the Amount due has been paid.

I hereby choose as my domicilium et executandi for all purposes hereof, the following address (physical address only):

Address: 624 Honeybird road, Midrand, Johannesburg, , 1632

• Milpark Education will be entitled to increase the interest rate from time to time to the maximum rate allowed by the
law.
• I hereby consent to the jurisdiction of the Magistrate’s Court having jurisdiction over me in connection with all legal
proceedings arising here from.
• Milpark Education may cede or pledge its rights herein without my consent.
• It is agreed that I may pay any portion of the Amount plus interest before the due date without derogating from any
right I may have in terms hereof.
• The Amount plus interest will become due and payable immediately on a provisional order of insolvency from me.

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