Non-registered Credit Provider and Reckless Credit by Timac Agro SA (Pty) Ltd

Timac Agro SA (Pty) Ltd supplies credit to farmers on a 270 days credit term. They are NOT registered at the National Credit Regulator in terms of the National Credit Act no. 34 of 2005. The client is brought under the miss perception when , and by the way IF there is a valid agreement signed , that they are legitimately / pretending they are registered credit providers. Out of desperation , the client signs the contract just to get the goods to continue their farming activities. Should the client NOT make any payments before day 270 , Timac Agro turns the ?? signed agreement into an "Incidental Contract" on day 271 of which is then NOT COVERED nor SUBJECTED to the National Credit Act section 40 , provided the client signed contact states that it is an INCIDENTAL CONTRACT. Of which we cannot verify as no one can provide us with a copy of a proper Timac Agro agreement. Due to the fact that payments are deferred for 270 days (9 months before you can settle the invoice / account) , these payment terms are used as the LOOPHOLE by Timac Agro to "DODGE" the Credit Act and the National Credit Regulator. EXHORBITANT interest rates are charged i.e. like up to 35% , meaning they have "CARTE BLANCHE" and OPEN SEASON to charge ANY interest rate , knowingly they will not be reprimanded by the National Credit Regulator. The client / customer is then SUMMONSED with legal action , landing up in court for monies owing on an ******* credit agreement with a NON-REGISTERED CREDIT PROVIDER. On top of this , they have different account statements that does not even "talk" to each other and the dates of the transactions thereon , are not even in date order , meaning no one will ever be able to establish the CORRECT amount owing to Timac Agro. When they institute legal action against the client , forensic auditors must RECONSRTRUCT a PROPER client account with proper balances to establish the CORRECT amount/s owing to them ! Not even mentioning the EXHORBITANT interest rates charged ! Again , another loophole to Timac Agro. With Incidental Agreements , RECKLESS CREDIT in terms of section 78 , 81 & 84 of the National Credit Act , Incidental Agreements are NOT subjected to the National Credit Act , therefore , OPEN SEASON in charging of interest on any outstanding amounts. In a recent court case of mine with a client , the Judge declared the agreement INVALID and issued a Section 40 order in terms on the National Credit Act ! Thus , BEWARE AND BE VERY VERY CAREFUL when entering into an agreement with Timac Agro ! We established GROSS ACCOUNTING MALPRACTICES app**** by this company to clients / customer accounts with incorrect account balances with LEGAL ACTION already instituted against the client / customer where in fact the client / customers account WAS IN CREDIT as established in the reconstructed accounts in conducting the forensic audit ! THIS IS THE MODUS OPERANDI and STATUS QUO in the managing Timac Agro as as company !