A: A CREDIT PROVIDER enters into a credit agreement by lending money or offering credit to a consumer. It is of utmost importance that a credit provider must be registered under ‘the Act’ (NCA) and, with the National Credit Regulator (mostly referred to as the NCR).
According to ‘the Act’ (NCA): “in respect of a credit agreement to which this Act applies, means –
a) The party who supplies goods or services under a discount transaction, incidental credit agreement or instalment agreement;
b) The party who advances money or credit under a pawn transaction;
c) The party who extends credit under a credit facility;
d) The mortgagee under a mortgage agreement;
e) The lender under a secured loan;
f) The lessor under a lease;
g) The party who advances money or credit to another under any other credit agreement; or
h) Any other person who acquires the rights of a credit provider under a credit agreement after it has been entered into;”