- All members should always comply with the following terms and conditions
- 1. Joining Fee and Contributions
- A minimum of R300 is required to sign-up to be a member of SD Farm Link Stockvel and to make the stockvel account remain open
- A member is required to choose a premium starting from R500 which will be paid for a period of 12 months.
- After the 12 months has lapsed and the member has contributed as stipulated in the contract, such member will get package benefits which fall under the premium chosen by the member.
- After the 12 month period has lapsed, each member should notify the stockvel executive if they have an intention to renew the contract for another 12 month period. If a member does not indicate if they have an intention to renew the contract will automatically be cancelled and the member wll have to pay R300 joining fee.
- If no contribution is received from a member for more than 3 months consecutively, the membership will be terminated and the member will be requested to the stockvel Head Office for re-activation of membership and a fee of R200 will need to be paid upfront.
- It remains the responsibility of the members of the Stockvel to ensure that all information provided is correct.
- 1. Joining Fee and Contributions
2. Method of Payment
a member can pay the deposit money using the following methods:
- Electronic Funds Transfer (EFT)
3. Non-payment, Cancellation and Withdrawals
3.1. Non-payment by a member remains the responsibility of the stockvel. The member of the stockvel executive will contact the designated member using the provided numbers with regards to non-payment by the member.
3.2. If such member cannot be contacted, such contract will automatically be terminated.
3.3. A minimum of R300 is required to keep the stockvel account open. The account will be closed should the minimum required amount of R300, not be paid.
3.4. If the the member of payment of the membership fee fails to pay the chosen premium, the contract will be automatically terminated.
3.5. We reserve the rights to close the account without notice, if one has not paid the membership fee.
3.6. If the member after the payment of the membership fee does not pay the premium, the executive will notify the member of the non-payment. If the member does not pay within 5 business days of notification, the contract will be terminated with immediate effect.
3.7. Should the executive member wish to close the stockvel account, a written notice must be provided to the stockvel members within 30 business days, such letters will be sent to the addresses which the members wrote on the contract.
3.7.1. If the executive members wants to terminate the stockvel agreement, the members will be reimbursed with the premiums
3.7.2. Such reimbursement exclude the membership fee
3.7.3. The reimbursement will be reconciled against the statements
3.7.4. The members will be reimbursed within 30 business days after termination by the executive.
3.7.5. It is the members responsibility to make sure that they inform the stockvel executive of their current address. If the letter is sent to the address which is stated on the contract and it turns out that the member has changed his/her address without notifying the executive, it will be interpreted as if the executive sent the letter to the member.
3.8. Changes to the contract will be communicated with the members when such changes are made.
Status will be provided to members upon request
5. 1. There are no meetings for members. Only the executive will set dates and meet when necessary.
5.2. When there re new developments the executive will communicate with members using social media platform, SMS and e-mail