Letter of Acceptance Template
- (a) This arrangement does not novate (replace) or change the above credit agreement. The terms and conditions of the above credit agreement still apply;
- (b) You must pay the full outstanding balances shown above, in terms of this arrangement or any later change/s to it;
- (c) This arrangement creates a rearrangement in terms of section 88(3) of the National Credit Act (Act 34 of 2005). If you default on your obligations in terms of this arrangement, <Credit provider> may end the debt review process for this credit agreement and enforce its rights under the terms and conditions in the credit agreement;
- (d) You are responsible for payment of all Payment Distribution Agent (PDA) and debt counsellor fees;
- (e) As and when your ability to service your debts improves as a result of having paid some of your debts while under debt review such extra affordability must be evenly allocated to the remaining accounts to speed up the payment of the debts; and
- (f) If the debt review process is ended by you or the debt counsellor on your behalf, by a court, or by us, this arrangement will come to an end immediately and you will need to return to making payments in keeping with the original credit agreement.
DRAFT — Letter of acceptance of arrangement proposal, one per credit agreement.
Address of Credit Provider / Address Line 1 / Address Line 2 / Address Line 3 / Address Line 4.
To: Customer <insert details>. CC: Debt counsellor (Acting as the agent of the customer). By fax/email/* : <insert details>. *delete that which is not applicable. Date: <insert date>. Our reference: <insert Ref>.
Dear <insert customer name>,
Acceptance of rearrangement proposal for debt of <insert customer name>, (ID: <insert customer ID number>) for <Account Number> <Account Description as per Credit Provider>.
We refer to your application for debt review in terms of section 86 of the National Credit Act (Act 34 of 2005) and to your debt rearrangement proposal we got from <insert debt counsellor name and registration number>.
We confirm our acceptance of the terms of the rearrangement proposal for this credit agreement as follows:
<insert product category as per proposal>: <insert product account number>.
Outstanding balance as at date of this letter: <Rxxxx>.
Instalment: R<as per proposal> a month to be increased yearly on the anniversary date of the acceptance by <as per proposal> %.
Interest rate: <as per proposal> % a year worked out daily and compounded monthly, which will be fixed for as long as you remain in debt review or until the date of full payment of this account, whichever is the earlier.
This arrangement is confirmed, under the following conditions:
NDRC Practice NoteLast reviewed 2026-04
Used where the credit provider accepts the proposal under NCA s 86(8)(a). Acceptance converts the proposal into a binding rearrangement that can be made an order of court under s 138 (consent order).
Drawn from NDRC's active case work. For your situation, see our debt counselling overview.
Cite this clause
National Credit Regulator. (2015). Annexure E — Standard Documentation, clause 6: Letter of Acceptance Template. Guideline 001/2015 (Debt Review Task Team Agreements 2010), p. 79.