hereby acknowledge that I am truly and lawfully indebted unto and in favour of
"WPIHA" (The Creditor)
in the sum of
in respect of ice hockey for the 2024 season.
2. I hereby irrevocably offer to liquidate my indebtedness to the Creditor in equal monthly installments of
3. In the event of
3.1 any one installment required in terms hereof not being paid upon date; or
3.2 the Debtor being of any of the other provisions hereof (all of which are deemed to be material); or
3.3 The Debtor committing any act of insolvency the whole of the capital sum, together with interest thereon and costs shall immediately become due and payable and the creditor shall be entitled to proceed for the immediate recovery thereof without prior notice.
4. In the event of the Creditor being obliged to institute legal proceedings against the
Debtor in terms of this acknowledgment of debt, the Debtor undertakes to pay the
Creditor’s legal costs (attorney and own client scale), together with collection
commission at the rate of 10% per installment and any other charges lawfully incurred,
including tracing charges and bank charges.
5. I acknowledge that acceptance by the creditor of this acknowledgment of debt will
not in any way be construed as a novation of the original debt should the creditor elect
to proceed thereon.
6. In terms of Section 45 of the Magistrate’s Court Act, I hereby consent to the
jurisdiction of the Magistrate’s Court having jurisdiction in terms of Section 28 of the
said Act, in respect of any action to be instituted on this acknowledgment of debt.
This consent is without prejudice to the Creditor’s rights to proceed in any other Court
having jurisdiction
I choose domicilium citandi et executandi (“domicilium”) for the purposes of the
giving of any notice, the serving of any process and for any other purpose arising from
this acknowledgment at the address set out below:-
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