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National Credit Act, 2005 (Act No. 34 of 2005)

Chapter 5 : Consumer Credit Agreements

Part D : Statements of account

108. Statement of account


(1) A credit provider must offer to deliver to each consumer periodic statements of account in accordance with this section.


(2) The maximum period between issuing statements of account is—
(a) one month, except as otherwise provided for in this subsection;
(b) two months, in respect of an instalment agreement, lease or secured loan; or
(c) six months in respect of a mortgage agreement.


(3) Despite subsection (2)—
(a) a consumer and credit provider may agree to reduce the frequency of statements of account referred to in subsection (2)(a) or (b), but no such agreement may provide for more than three months between delivery of successive statements of account; and
(b) a statement of account need not be delivered in respect of a credit facility if no amount has been debited or credited to the account during the statement period.