I / We hereby authorise you to issue and deliver payment instructions to the bank for collection against my / our above mentioned account on condition that the sum of such payment instructions will never exceed my / our obligations as agreed to in the Agreement. The individual payment instructions so authorised to be issued must be issued and delivered on the 3rd day (“payment day”) of each and every month. In the event that the payment day falls on a Saturday, Sunday or recognized South African public holiday, the payment day will automatically be the very next ordinary business day. I / We understand that the withdrawals hereby authorised will be processed through a computerized system provided by the South African Banks and I also understand that details of each withdrawal will be printed on my bank statement.
Cancellation: I / We agree that although this Authority and Mandate may be cancelled by me (With 20 days notice) / us, such cancellation will not cancel the Agreement. I / We shall not be entitled to any refund of amounts which you have withdrawn while this authority was in force.