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Knowledge track
Banking and Finance Terms
Banking and Finance glossary terms connected to legal problems, guides, resources, lawyers, law firms, and booking paths.
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01
Banking and Finance TermsFeatured
Clearing
The exchange and processing of payment instructions between financial institutions before final settlement takes place.
Read definition02Banking and Finance TermsFeatured
Credit agreement
An agreement under which credit, a loan, deferred payment, or another regulated credit arrangement may be provided.
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Credit bureau
An organisation that keeps and reports credit information used by lenders and other authorised users.
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Credit provider
A person or institution that provides credit under a credit agreement.
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Customer due diligence
Checks used to identify and understand a client, transaction, beneficial owner, or risk profile.
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Debt counsellor
A person registered with the National Credit Regulator to assist over-indebted consumers through the debt-review process.
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FICA compliance
Compliance with South Africa's anti-money-laundering and counter-terrorist-financing requirements under FICA.
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Financial services provider
A person or business authorised to provide certain financial advice or intermediary services.
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National Payment System
South Africa's regulated framework for payment, clearing, and settlement between financial-system participants.
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Payment settlement
The final discharge of payment obligations between participants after payment instructions have been cleared and settled through the relevant payment system.
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Reckless credit
Credit that may have been granted without proper affordability checks or in circumstances restricted by the National Credit Act.
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Suretyship
An undertaking where one person or entity agrees to be responsible for another person's debt or obligation if that person defaults.
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Suspicious transaction report
A report made to the Financial Intelligence Centre when a transaction or activity appears suspicious or unusual under anti-money-laundering rules.
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Treating Customers Fairly
An FSCA conduct standard and supervisory approach focused on fair outcomes for financial customers across the product life cycle.
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Client Document Pack
Banking and Finance Document Pack
Banking and Finance Document Pack: prepare Credit agreement, Loan agreement, Security documents and identify missing records before legal advice.
Banking and FinanceChecklistBanking and Finance Fee and Scope Guide
Prepare fee and scope questions for a banking and finance matter by separating consultation fees, fixed fees, hourly work, disbursements, official fees, exclusions, approval rules, and invoice controls.
Banking and FinanceChecklistCredit And Finance Checklist
Credit And Finance Checklist for preparing documents, facts, dates, and questions connected to banking and finance.
Banking and FinanceChecklistInsurance Claim Checklist
Insurance Claim Checklist for preparing documents, facts, dates, and questions connected to insurance law.
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