Conditions of Card Protection Fund

 

1. Protection in terms of this scheme only becomes effective for 12 months after the amount mentioned in clause 5 hereof has been paid by the member to Koopkrag Limited.

    

   1. The registered member is responsible for the safe keeping and proper use of all purchase cards issued on his/her account and he/she must take all reasonable precautions to prevent any unauthorized person from using the card(s).

    

   2. Should a card be lost, missing, stolen or used unauthorized i.e. by anyone other than the cardholder, or the cardholder believes or has reason to believe that any of the before mentioned Events (the Events) have occurred, the cardholder or the registered member must notify the Card Division of Koopkrag immediately by telephone or personally, as soon as the Events have occurred. Such notification must be confirmed in writing and must be received by the Card Division of Koopkrag within 7 days of the initial notification. All hours telephone numbers shall appear on the monthly Koopkrag account statements which can be dialled to report any of these Events.

    

   3. If any of these Events should occur the member will be responsible and liable for any payments made by Koopkrag Limited in respect of any purchases and/or transactions concluded with the relevant card prior to the notification referred to in clause 1.2 hereof.

    

   4. The member shall not be liable for any loss due to payments made by Koopkrag Limited in respect of any purchases and/or transactions made or entered into after the requirements stipulated in Clause 1.2 and 1.3 hereof have been fully complied with.

2. A member or the cardholder will be obliged to furnish the Card Division of Koopkrag Limited with an affidavit in respect of the details of the theft/loss of the purchase card and of any other reasonable demand set by Koopkrag Limited.

3. If unauthorized purchases were made with the purchase card of the member or the cardholder, the onus will be on the cardholder or member to identify those unauthorized purchases and to contact the suppliers where those purchases were made and to provide Koopkrag with sufficient proof that those purchases were in fact unauthorized.

4. A member will not enjoy any protection if the theft/loss of the purchase card was intentional or due to gross negligence by the cardholder or member.

5. The premium is R12.00 per card per annum.