1. Use of the account 

You agree that:

1.1 We will open a banking account for you, the type of account and styling of which will be indicated by you.

1.2 You will supply us with the details of the signing arrangements (and any changes thereto) on the Account.

1.3 We may debit the Account with the amounts of all transactions carried out by you, whether the Account is in credit or otherwise.

1.4 The use and handling of the Account are subject to the clearing rules between banks, including the Rules of the Payment Association of South Africa.

1.5 You will not have the right to stop any payment we make or are about to make to any third party in respect of any transaction, nor will you have the right to instruct us to reverse a payment in respect of a transaction that has already been made, except as provided otherwise by law.

1.6 You will conduct the Account in a manner acceptable to us.

1.7  We reserve the right to monitor the use of the Account for assessing compliance with and adherence to the Product Specifications.

1.8 If you no longer qualify for the Account, we have the right to migrate you to an account for which you do meet the qualifying criteria. Such migration will be communicated to you beforehand and the terms and conditions and Fees for that account will then apply.

1.9 We have the right to claim any difference in the pricing applicable to the two accounts from you, from the date that you cease to qualify for the Account to the date of the migration.

1.10 You may not cede, assign or otherwise encumber any of your rights or obligations in and to the Account (including the funds held in the Account) without our prior written consent, which consent may be subject to any terms and conditions stipulated by us at our sole discretion.

1.11 You authorise us to accept instruction by electronic means.

2. My pocket 

2.1 Depending on the Product Specifications of your Account, you may have a MyPocket savings pocket linked to your Account, in which case the following rules apply:

2.1.1 Your Account automatically comes with one MyPocket and you may open another nine MyPockets.

2.1.2 You can choose a name for each MyPocket, which  can be renamed as many times as you like.

2.1.3 Funds can be transferred to or from a MyPocket to or from your Account through Nedbank’s digital channels only. Funds cannot be put directly into a MyPocket by cash deposit.

2.1.4 Funds in a MyPocket are always available and you will have immediate access to funds when they are transferred into your Account.

2.1.5 You cannot use a MyPocket at an ATM or point-of-sale device, and no cards are issued on a MyPocket.

2.1.6 You can, however, make third-party payments directly from a MyPocket.

2.1.7 A MyPocket cannot be overdrawn.

2.1.8 Because a MyPocket is linked to your Account, your linked MyPocket(s) will also become dormant or will be closed if your Account becomes dormant or is closed. Any funds in any dormant or closed MyPocket(s) will then be transferred to your Account.

2.1.9 A MyPocket cannot be converted into another type of account.

2.1.10 You may close any MyPocket at any time.

2.1.11 eNotes are not issued on a MyPocket and a MyPocket is not linked to Nedbank Greenbacks or the Nedbank Affinity Programmes.

2.1.12 Interest will accrue on the credit balance in MyPocket, calculated on the end-of-day balance and capitalised monthly.

2.1.13 Depending on the balance in a MyPocket, you will earn interest on an escalating basis up to the maximum prescribed by us from time to time. Once this maximum has been reached, interest will accrue interest on a descending basis.

2.1.14 Information on the interest rates and the maximum balance are available on www.nedbank.co.za or from the NCC or at any branch.

2.1.15 We may change the interest rates on credit balances at our discretion.

2.1.16 An IT3(b) certificate will be issued only if the amount of interest earned on a MyPocket(s) is equal to or more than the minimum amount prescribed by SARS from time to time.

2.1.17 The Account statement referred to in clause 16 below will not include the balances on MyPocket(s). Statements for MyPocket(s) can be obtained at any Nedbank branch or can be viewed on Nedbank digital channels.

2.1.18 The Pricing Schedule that contains information regarding the Fees applicable to MyPocket is available at any branch or at www.nedbank.co.za.

2.1.19 You confirm that you have read and understood the Fees for your MyPocket.

2.2 You do not have to use the MyPocket automatically opened with your Account if you do not want to. If you do not use the MyPocket, you will not pay any fees and it will not affect your Account at all.

3. Use of cards 

3.1 Subject to Product Specifications, you and/or your authorised representative may deposit and/or withdraw cash from the Account, and generally operate the Account through access to an ATM, SSK and a point-of-sale device by using the Card together with a PIN, if required.

3.2 You will select a PIN for your Card. This is a secret number that only you know. This number must be encoded on the Card by us and is used as a means of user identification. It is important that your Card is not used fraudulently. You must therefore:

3.2.1 take proper care of the Card and the Card number;

3.2.2 not allow anyone other than your authorised representative to use the Card and PIN;

3.2.3 always take reasonable steps to keep the Card safe and the PIN secret;

3.2.4 never tell anybody who offers to help, including any of our employees, the PIN; and

3.2.5 never write down or record the PIN.

3.3 You will be liable for any transactions performed with the Card if you have given your PIN to someone else.

3.4 The Card is valid from the time it is issued or from the first day of the 'valid from' date on the Card, as the case may be, until it expires, or until the Agreement is terminated.

3.5 You may not cede or delegate any of your rights or obligations in respect of the Card or its use.

3.6 You must sign the Card on the back with a ballpoint pen as soon as you receive it.

3.7 We are the owners of the Card and when the Account is closed, you must give the Card back to us (or to any person who is authorised to act on our behalf) or provide us with written confirmation that your Card has been destroyed.

3.8 If the Card, the Card number or PIN:

3.8.1 is lost, stolen or used wrongfully; or

3.8.2 is used by any person other than you or your authorised representative; you must notify us immediately by calling the number provided on your statement or on the Card itself or by contacting any of our branches. You must also notify us immediately if anyone obtains knowledge of your PIN or if you suspect that this has happened. You will be provided with a reference number during the telephone call. You will be liable for and must repay to us all amounts we pay or have to pay if the Card, Card number or PIN is used, unless it has been reported as being lost, stolen or used wrongfully. You will also be liable for any transactions that were made before the above notification but processed only thereafter.

3.9 We may debit your Account with the amounts of:

3.9.1 all transactions carried out by you or with your authority by means of the Card and the PIN; and

3.9.2 all transactions not authorised by you, but which have been carried out by means of the Card and PIN before we have had the reasonable opportunity, after the verbal notification in terms of clause 3.8 above, to prevent any further unauthorised transactions.

3.10 Except where a transaction is made using a PIN or by telephone or on the internet, you must sign a sales voucher or a refund voucher, as the case may be, each time the Card is used or the Card number is given to a merchant or supplier. By signing the voucher, you confirm that the information on it is correct.

3.11 Unless you have notified us that the Card has been lost or stolen in terms of clause 3.8, even if you do not sign the relevant vouchers, you will be liable for and must repay to us all amounts we pay in respect of your Card Transactions.

3.12 You must comply with all applicable exchange control regulations when the Card is used outside the common monetary area. Card Transactions made in foreign currencies will be converted into South African rand at an exchange rate determined by us and will be shown on your statements in South African rand. An additional fee may be payable by you for such transactions.

3.13 You may not use the Card for any unlawful or illegal transaction and it is your duty to make sure that a transaction is lawful before the Card is used.

3.14 The Card may be used only for payments and transactions specified in the Product Specifications for that type of account.

3.15 When you use any electronic device, you do so at your own risk and we will not be held liable for any loss or theft resulting from the use of any device.

3.16 When making withdrawals at ATMs outside the borders of South Africa, the daily withdrawal limit may be different from the daily withdrawal limit at ATMs in South Africa.

3.17 You authorise us (which authorisation may not be cancelled):

3.17.1 to pay any purchases or services in respect of which the Card or the Card number is used and to debit the amount concerned to your Account;

3.17.2 to debit your Account with the amount of the sales voucher or any other cash amount withdrawn; and

3.17.3 to make the necessary entries to do the above and to reverse these entries when appropriate.

3.18 We will in no way be liable to you if any merchant or supplier does not accept the Card or the Card number, or if we refuse to authorise any Card Transaction.

3.19 If there are any claims or disputes between you and the merchant or supplier in respect of the nature, quality or quantity of any goods or services obtained by you from the merchant or supplier or in respect of any other matter, our right to receive payment from you will not be affected in any way, nor will it give anyone a right of setoff or counterclaim against us. You hereby acknowledge that no merchant or supplier is our agent.

3.20 If a merchant or supplier refunds you, the refund will be credited to your Account only if and when we have received a properly issued credit voucher from the merchant or supplier.

3.21 By keeping and/or using the Card you accept all these terms and conditions in respect of the use of the Card.

4. Contactless transactions

4.1 For the purposes of this clause:

4.1.1 'Contactless payment' means a payment transaction that may or may not require a PIN that is made for an amount below the contactless transaction limit and where the contactless-enabled Card is placed against a compatible payment device or within close proximity of the contactless-payment device.

4.1.2 'Contactless payment device' means a point-of-sale device that is enabled to perform contactless payments.

4.2 A Card may be enabled to make contactless payments.

4.3 You may make a contactless payment for an amount below the prescribed limits without the use of a PIN.

4.4 When you make a contactless payment without the use of a PIN, you do not have the right to dispute this payment or have it charged back.

4.5 You cannot make internet purchases or cash withdrawals at an ATM or cash withdrawals at retailer points of sale using contactless payment technology.

5. Deposits 

5.1 There is no limit on the number and size of deposits that can be made on the Account.

5.2 If illegal money (counterfeit banknotes or any other purported banknotes not accepted as legal tender in South Africa) or defective notes (dye-stained or mutilated banknotes where the serial number is illegible or defaced) are deposited into the Account, we reserve the right to reverse any value given to you for such dye-stained notes.

6. Withdrawals

6.1 Funds are available on demand, subject to:

6.1.1 daily withdrawal limits at ATMs; and

6.1.2 withdrawal limits at teller terminal.

7. No right to overdraw the account

7.1 You must ensure that there are sufficient funds in the Account to pay for any debits against the Account.

7.2 The Account must always have a zero or credit balance. We will grant you credit only if you apply for a credit facility and it is approved by us subject to separate terms and conditions applicable to the credit facility.

7.3 If we have not granted you a credit facility but the Account has a debit balance, the full debit balance will be payable immediately. In such instance we will charge our standard Fees to the Account and interest will be levied on the debit balance in terms of clause 13.6 below.

8. No funds alert service 

8.1 If your Account and/or any MyPocket has insufficient money for us to process an Item(s), an SMS will notify you of this and ask you to deposit Good Funds into your Account and/or any MyPocket.

8.2 Where possible, we will hold the Item(s) for the period shown in the SMS.

8.3 If you do not deposit Good Funds into your Account and/or any MyPocket before the end of the period in the SMS, the Item(s) will be returned.

8.4 Because of the systems used across banks, it may not be possible to hold debit orders, so if there is not sufficient money in your Account and/or any MyPocket, the debit order will not go through.

8.5 If an SMS is more than 160 characters, the message will be broken into two or more parts and sent as more than one SMS.

8.6 we will charge Fees for this service as we provide for herein.

8.7 If you do not deposit Good Funds into the Account and/or any MyPocket in time to enable us to pay the Item(s), we will also charge you a dishonoured fee per Item that is not paid.

8.8 We may, without notice to you, suspend and/or terminate this service:

8.8.1 in circumstances beyond our control, including but not limited to updates, additions/deletions, changes, maintenance or inspection of our systems, equipment or network, or if there is a failure or stoppages due to power outages or natural disasters; 

8.8.2 if we have reason to believe your contact details are no longer correct; or

8.8.3 you give any information that is untrue or inaccurate, or we have reasonable grounds to suspect that the information is untrue or inaccurate.

8.9 We do not warrant that:

8.9.1 this service will meet your requirements;

8.9.2 this service will be uninterrupted, timely or secure;

8.9.3 we will send an SMS every time there is insufficient money in your Account and/or any MyPocket to meet your obligations;

8.9.4 the SMS you receive will be accurate, correct or will arrive at the supplied cellphone number; and

8.9.5 the notifications you receive will be reconcilable with the activity on your Account and/or any MyPocket.

8.10 We are not liable for any loss or damage resulting from:

8.10.1 failure to deliver the SMS for any reason;

8.10.2 any SMS sent to a cellphone number that is no longer yours and has not been changed on your profile;

8.10.3 any delays in SMS delivery;

8.10.4 the loss or destruction of SMS information;

8.10.5 the modification, suspension or discontinuation of this service;

8.10.6 your instruction to line-forward your SMSs (ie when you direct your SMSs to a different cellphone number);

8.10.7 any other cause beyond our control or the control of any other third party we use to provide this service; and

8.10.8 any other matter relating to this service, unless the loss or damage arises directly or indirectly from our gross negligence or wilful misconduct (or that of any person acting for or us or that we control).

8.11 It is your responsibility to:

8.11.1 ensure that there is sufficient money in your Account and/or any MyPocket to meet your obligations;

8.11.2 arrange with your mobile network operator to enable you to receive SMSs when you are out of the country;

8.11.3 ensure that we have your correct cellphone number at all times;

8.11.4 ensure that your cellphone is not used to gain unauthorised access to your SMSs; and

8.11.5 where you have previously authorised the SMSs to be sent to an employee, let us know timely if the employee resigns or retires or is dismissed and let us know the details of any new employee to receive the SMSs.

9. Freezing, suspension, modification, restriction and termination

9.1 You may terminate this Agreement at any time without giving us notice.

9.2 We may freeze, suspend, modify or restrict your Account or terminate this Agreement immediately at any time without prior notice to you due to, including but not limited to, the following circumstances: 

9.2.1 Our being compelled to do so by law.

9.2.2 Our having reasonable suspicion that the Account is being used for illegal, unlawful or fraudulent purposes.

9.2.3 Your conduct resulting in a breach of our regulatory obligations. 

9.3 We will give you reasonable notice if we want to freeze, suspend, modify or restrict your Account or terminate this Agreement due to, including but not limited to, the following circumstances, as determined at our sole discretion:

9.3.1 Our being compelled to do so by law.

9.3.2 Reputational risks or operational/business reasons.

9.3.3 You no longer qualifying for the Account according to our Product Specifications.

9.3.4 Your breaching of the Agreement.

9.3.5 Your breaching any other agreement with us.

9.4 We must comply with local and international laws, regulations, policies and requirements with regard to anti-money-laundering, counter-terrorist financing and sanctions. We may therefore continuously screen, verify, process and monitor all our and any related information, instructions and transactions effected by you and/or on your behalf. This may also result in your transactions or the use of your account being prohibited, delayed, withheld, limited, declined or conditionally approved, your funds being confiscated and/or our relationship being terminated.

9.5 If your account is frozen, suspended, modified or terminated, you will need to make alternative arrangements for any monthly debit and stop orders on the Account.

9.6 On termination of this Agreement your right to use any Card that has been issued to you in respect of the Account will terminate. you must immediately return the Card to us at the address set out in clause 17.1 or destroy the Card to prevent further use.

10. Product withdrawal or discontunuation

10.1 If it becomes  uneconomical or commercially impractical for us to provide the product or service offered in terms of this Agreement or if we are unable to continue providing the product or service, for whatever reason, we may terminate that product or service on reasonable notice to You.

10.2 We will give you information of comparable products.

10.3 If you do not select an alternative product or service, we will be entitled to move you to a product or service that we identify as suitable for your needs.

11. Dormant accounts 

11.1 We are still entitled to charge fees on a Dormant Account.

11.2 Once an Account is dormant, you will be able to perform only credit transactions on the Account and not debit transactions.

11.3 To lift the dormant status on the Account you will have to contact the NCC.

11.4 We may, after notification to you, at our sole discretion close an Account that has been dormant for such a period as we may determine from time to time.

11.5 We will give you 60 days' notice that the Dormant Account will be closed.

11.6 Once the Dormant Account has been closed, no interest will accrue to the Account.

11.7 Should you wish to claim any credit balance from a closed Dormant Account, you will have to call the NCC or any of our branches for guidance on the process to be followed.

12. Privacy consent

12.1 You give us consent to process your personal information in relation to your applications for financial products and/or service from us subject to our Privacy Policy and within the parameters of applicable laws. The processing will include, without limitation, conducting affordability assessments, credit scorings and any other profile building that can help us appropriately allocate a product or service offering that is suited to your needs. The consent will also extend to us processing your personal information as we may deem fit for your and/or our legitimate interest.

12.2 You also give us the right to:

12.2.1 collect your personal information from a third party when reasonably necessary and/or if it is impractical to collect the data directly from you;

12.2.2 process your personal information for purposes of complying with any legislative or regulatory requirements;

12.2.3 transfer and/or process your personal information outside the Republic of South Africa, where necessary, on condition that such transfer and/or processing is subject to applicable laws, binding corporate rules or binding agreement; and

12.2.4 process your special personal information (such as race, ethnic origin, biometric information or alleged criminal behaviour), only where necessary and subject to our Privacy Policy and applicable laws.

12.3 You have the right to:

12.3.1 request confirmation from us, free of charge, whether or not we hold your personal information;

12.3.2 request the record or a description of your personal information held by us;

12.3.3 request information about all third parties who have, or have had, access to your personal information;

12.3.4 correct or delete your personal information;

12.3.5 withdraw your consent at any time by giving us notice;

12.3.6 object to your personal information being held by us; and

12.3.7 lay a complaint at the Information Regulator regarding your personal information in terms of the Promotion of Access to Information Act, 2 of 2000.

13. Interest 

13.1 We will not pay interest on any account, unless this is specifically agreed in writing or where this is part of the Product Specification.

13.2 Where applicable, interest will accrue to credit balances, calculated on the end-of-day balance, and capitalised monthly.

13.3 Interest rates on credit balances will be the rates specified on www.nedbank.co.za or will be available from the NCC or at any branch, levied in accordance with the type of account indicated by you or, if applicable, the rates as subsequently agreed with you.

13.4 If the end-of-day balance is a debit balance, debit interest at the maximum interest rate for credit facilities, as prescribed from time to time in the regulations promulgated in terms of the NCA, or, if applicable, the rate subsequently agreed with you, will accrue to the Account.

13.5 We may change the interest rates on credit balances at our discretion and on notice to you.

13.6 Interest on debit balances will be calculated daily from the date on which the Account goes into debit on the basis of a year of 365 days, whether or not the year is a leap year, and is debited monthly in arrear. Any interest not paid on or before the due date for the payment thereof will bear further interest at the rate applicable to this Agreement.

14. Fees and taxes

14.1 We will charge Fees in accordance with the prevailing Pricing Schedule, or as agreed with you. Such Fees will be debited in accordance with the prevailing Product Specifications.

14.2 The Pricing Schedule that contains information regarding the Fees, is available at any branch or at www.nedbank.co.za.

14.3 You confirm that you have read and understood the Fees for your Account.

14.4 You must pay all Fees when due to us.

14.5 We are entitled, at our reasonable discretion to vary any Fees, or the items attracting Fees.

14.6 We will give you reasonable notification before Fees or items that attract Fees change.

14.7 Fees that attract value-added tax will include value-added tax, which will be indicated on your Account statement. 

14.8 Interest at the interest rate applicable to this Agreement from time to time will be charged in respect of any Fees not paid on or before the due date for payment thereof and this will not prejudice, restrict or in any manner detract from our rights pursuant to an act of default.

14.9 In addition all amounts that we may pay or incur pursuant to this Agreement due to your default, including any amount actually disbursed by us, either when collecting any payment owing by you or when exercising any of our rights arising from any breach of your obligations in terms of this Agreement, as well as legal costs on the attorney-and-client scale (including tracing fees and any collection commission), will be payable by you to us on demand.

14.10 All applicable government levies in respect of the use of the Account will be debited to your Account monthly and paid over to the relevant government body.

15. Income tax certificates 

15.1 After February each year, we will generate:

15.1.1 an IT3(b) certificate only if the amount of interest earned on an Account is equal to or more than the minimum amount prescribed by SARS from time to time; and

15.1.2 an IT3(s) income tax certificate where applicable.

15.2 These certificates will be made available to you on request once they have been generated.

15.3 The certificates indicate the amount of interest accrued and interest paid in the particular tax year, irrespective of whether the interest is paid out in the same tax year.

15.4 These certificates will be sent to SARS regardless of whether the interest paid or earned is equal to or more than the minimum amount of interest prescribed by SARS from time to time.

16. Statements 

16.1 We will, at our discretion, make regular statements relating to your Account available to you, subject to Product Specifications.

16.2 You elect to receive electronic statements.

16.3 At our sole discretion an additional cost may be levied against your Account for paper-based statements, whether posted or obtained at any branch or through any self-service or digital channel.

16.4 It is your responsibility to check your Account regularly and report any discrepancies to us within 30 days of the date of the discrepancy.

16.5 If there is a dispute regarding the items appearing on the statement, our records will be prima facie (on the face of it) proof.

17. Legal notices

17.1 For all purposes under this Agreement, the Parties choose the following addresses as their respective domicilia citandi et executandi:

us: Nedbank 135 Rivonia Campus, 135 Rivonia Road, Sandown, Sandton; and

you: the last known physical address supplied by you.

17.2 Any legal notice to be served on any Party may be served at the address specified for such Party in this clause.

17.3 Legal notices will be valid and effective only if given in writing and delivered by hand or prepaid registered post.

17.4 If delivered by hand, the notice will be deemed to have been received on the date of delivery, provided it was delivered to a responsible person during ordinary business hours.

17.5 If delivered by prepaid registered post, the notice will be deemed to have been received within seven days of the posting date, unless the contrary is proved.

17.6 Notwithstanding anything to the contrary in this clause, a written notice or other communication actually received by any Party will be adequate written notice or communication to such Party even if the notice was not sent to or delivered at the Party's chosen address.

17.7 A Party may by written notice to the other Party change its address for the purpose of this clause to any other address (other than a post office box number), provided that the change will become effective on the seventh business day after receipt of the notice.

17.8 It is your responsibility to ensure that we are kept informed of any changes to your personal information, including address and contact details.

18. Liability 

18.1 Except where damage or loss arises directly or indirectly from our wilful misconduct or gross negligence (or any person acting for or controlled by us), we will not be liable to you for any damage or loss that you may suffer because of:

18.1.1 any action taken in terms of clause 9 or 10 above;

18.1.2 your use of electronic means to communicate with us;

18.1.3 any person having gained unauthorised access to any information or data;

18.1.4 incorrect information having been given to us or to any person, including any credit bureau; and

18.1.5 a delay, failure or malfunction of any ATM, SSK or other device (electronic or manual) that you use to carry out transactions on the Account.

19. Allocation of payments

Each payment made by you in terms of this Agreement will be allocated firstly to any due or unpaid interest charges, secondly to any due or unpaid Fees, and lastly to the reduction of the capital amount outstanding.

20. Certificate

The nature and amount of your obligation and the applicable interest rate will be determined and proved by a certificate or any other written evidence ('certificate') purporting to have been signed by a Nedbank manager whose capacity or authority does not have to be proved. Unless the contrary is proved, the certificate will on the production thereof be binding and be prima facie proof of the content thereof and of the fact that the amount is due and payable. The certificate will be valid as a liquid document (alternatively proof of a liquidated amount) in any competent court or for any other purpose.

21.  Jurisdiction 

At our option any claim arising hereunder may be recovered in any magistrate's court having jurisdiction, notwithstanding the amount of the claim, and you hereby consent to the jurisdiction of that court.

22. General terms

22.1 Before opening an Account, we are entitled to satisfy ourselves of your suitability as an accountholder.

22.2 we are entitled to refuse to open an Account or accept a deposit.

22.3 you agree that we may combine any or all accounts you may have with us, without notifying you thereof. However, if we combine only some of these accounts, we will still have the right to claim from you any amount in respect of an account that is not part of the combined accounts.

22.4 The Agreement constitutes the whole agreement between the Parties in connection with the Account.

22.5 We may amend the Agreement and we will give you notice of any such amendments.

22.6 Any latitude, indulgence or extension of time granted by us to you will not constitute a novation or waiver of our rights in terms of the Agreement. The failure by any Party to enforce any provision of this Agreement will not in any way affect that Party's right to require performance of the provision at any time in the future.

22.7 Any amendment of the Agreement will not constitute a novation of the Agreement or of any of your previous obligations to us.

22.8 Should any competent court find any provision of this Agreement defective or unenforceable, the remaining provisions of this Agreement will continue to be of full force and effect.

22.9 The Agreement will be governed in accordance with the laws of the Republic of South Africa.

23. Alternative dispute resolution 

23.1 We have a complaint process that is available through the NCC, any Nedbank branch or at www.nedbank.co.za.

23.2 If you have a dispute or a complaint regarding your Account, you will need to send us a written statement setting out the dispute or the complaint. We undertake to investigate your dispute or complaint within a reasonable time, keep you informed during the investigation and provide you with a final written response.

23.3 Should you not be satisfied with the response referred to above, you have the right to contact the Ombud for Banking Services and/or the Financial Sector Conduct Authority and/or the National Consumer Tribunal using the details below:

24. Acknowledgement 

24.1 You warrant that you have fully and truthfully answered all questions and responded to requests for information by us relating to this Agreement.

24.2 You confirm that you understand and appreciate the risks and costs inherent in this Agreement, as well as your rights and obligations under this Agreement.

25. Interpretation and definitions 

In these terms and conditions:

25.1 clause headings are for convenience;

25.2 unless the context indicates a contrary intention:

25.2.1 the singular includes the plural and vice versa;

25.2.2 any gender includes the other genders;

25.2.3 a natural person includes a juristic person and vice versa; and

25.2.4 any number of days will be calculated by excluding the first and including the last day, or where the last day falls on a day that is not a business day, the next business day.

25.3 Unless the context requires otherwise, the following words and expressions have the meanings set out hereunder: