Industry Compliance
Compliance precedes reliance
NICS is a member of the Association of Debt Recovery Agents (ADRA) of which our Chairman (Baker Maseko) sat on the board for a period of 10 years. He currently sits on the board of the Council for Debt Collectors (CDC).
The company’s Executives are well conversant with the prescripts of the Debt Collectors Act (Act 114 of 1998). The company has, through ADRA, trained managers and staff on the Regulations and Code of Conduct as provided for in the Act.
About ADRA:
ADRA is a representative of the majority of practitioners within the debt recovery industry and has an authority and a common voice when engaging with all stakeholders regarding matters pertinent to the industry. Also, ADRA aspires to be representative of the majority of practitioners within the debt recovery industry and thereby have the authority and a common voice when engaging with all stakeholders regarding matters pertinent to the industry.
About Council for Debt Collectors:
In order to ensure the fair recovery of debts and make provision for the regulation and control of fees charged by debt collectors, a regulatory body named The Council for Debt Collectors was created by an Act of Parliament. The overall goal of the Act is to transform the debt collection system in South Africa by monitoring the conduct and professionalism of debt collectors and promoting a culture of good governance within the profession, thus contributing to protecting the public at large, as well as creditors.
About the NCR:
The National Credit Regulator (NCR) was established as the regulator under the National Credit Act 34 of 2005 (the Act) and is responsible for the regulation of the South African credit industry. It is tasked with carrying out education, research, policy development, registration of industry participants, investigation of complaints, and ensuring enforcement of the Act. The NCR is also tasked with the registration of credit providers, credit bureaux and debt counsellors; and enforcement of compliance with the Act.
