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The National Credit Act 34 of 2005 (the 'NCA'), which took effect on 1 June 2007, applies to 'every credit agreement' (s 4(1)), being a credit facility (s 8(1)(a)), credit transaction (s 8(1)(b)), credit guarantee (s 8(1)(c)), any combination of the above (s 8(1)(d)), and an altruistic agreement (ss 10 and 11). With regards to a 'credit transaction', s 8(4)(b) of the NCA states that an incidental credit agreement is a form of a credit transaction. From this it is clear that an incidental credit agreement is a credit transaction which, in turn, is a credit agreement under the NCA.
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