Consumer Affairs Reports
R 385
initiation fee
means a single fee not greater than the amount mentioned in paragraph 3(b)(ii) payable by the borrower to the moneylender --
| a) | in terms of an agreement in writing between the moneylender and the borrower; |
| b) | as valuable consideration for services rendered in connection with the registration of the mortgage bond in question; and |
| c) | at the conclusion of the money lending transaction in question. |
