1. Terms and Conditions

This signed Authority and Mandate refers to our contract as dated upon acceptance hereof (“the Agreement”). I hereby authorize Accelerate Management School (ACCELERATE) to issue and deliver payment instructions to the bank for collection against my abovementioned account at my abovementioned bank (or any other bank or branch to which I may transfer my account) on condition that the sum of such payment instructions will never exceed my obligations as agreed to in the Agreement. This authorization commences on the commencement date and continues until this Authority and Mandate is terminated by me by giving you notice in writing of no less than 20 ordinary working days, sent by prepaid registered post or delivered to your address indicated above.

2. Payment Instructions

The individual payment instructions so authorized must be issued and delivered as follows:

1. Monthly/Weekly: On the date I selected. 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 next ordinary business day. Further, if there are insufficient funds in the nominated account to meet the obligation, you are entitled to track my account and re-present the instruction for payment as soon as sufficient funds are available in my account.
2. Additional Debit Orders for Insufficient Funds: In the event that the initial debit order is not processed due to insufficient funds, I authorize Accelerate Management School to initiate up to three additional debit orders. These subsequent debit orders will be scheduled on each Friday following the initial failed attempt. The additional debit orders will be for smaller amounts, cumulatively equalling the original amount due.
3. Other Frequencies: Debit orders may also be processed on a bi-monthly, three-monthly, six-monthly, annual, weekly, or bi-weekly basis, as specified in the Agreement. The amount of each individual payment instruction may not be more than the obligation due.

I understand that the withdrawals authorized hereby will be processed through a computerized system provided by South African Banks, and I also understand that details of each withdrawal will be printed on my bank statement. Each transaction will contain a number, which must be included in the said payment instruction and, if provided to you, should enable you to identify the Agreement. A payment reference will be added to this form before the issuing of any payment instruction. I shall not be entitled to any refund of amounts withdrawn while this authority was in force if such amounts were legally owing to you.

3. Mandate

I acknowledge that all payment instructions issued by you shall be treated by my/our abovementioned bank as if the instructions had been issued by me/us personally.

4. Cancellation

I agree that although this Authority and Mandate may be cancelled by me, such cancellation will not cancel the Agreement. I shall not be entitled to any refund of amounts withdrawn while this authority was in force, if such amounts were legally owing to you.

5. Assignment

I acknowledge that this Authority may be ceded to or assigned to a third party if the Agreement is also ceded or assigned to that third party. However, in the absence of such assignment of the Agreement, this Authority and Mandate cannot be assigned to any third party.