NON COMPLIANCE

I signed a Rental/Hire contract with E***ash in Feb.15 on their documentation. I cancelled the contract in June15 and stopped payment. I was contacted by Sasfin Bank in Aug. 2015 about payment I thought I was making to E***ash. Sasfin Bank advised that, as per contract that I signed, they have paid E***ash in full on my behalf and I am now obligated to Sasfin Bank for this amount even if I do not used the equipment I hired. Sasfin Bank or any authorised rep was never involved at any time. I have not had any communication from Sasfin Bank after the contract was signed to confirm that I understood my obligation and never any correspondence. If I only became aware of this obligation after 6 months, then the Code of Conduct of Financial Service Providers and their Approved Reps in regards to the FINANCIAL ADVISORY AND INTERMEDIARY SERVICES ACT 37 OF 2002 was not comp**** with. I followed the formal Sasfin complaints procedure and wrote to the Group Compliance Manager. The response I got was \unfortunately your file is already with our Legal Department".<br> Full compliance with Code of Conduct would have ensured that I was made fully aware of this obligation and a choice. <br> """