n Tydskrif vir die Suid-Afrikaanse Reg - The law relating to bankers' references in South Africa : aantekeninge

Volume 2013, Issue 3
  • ISSN : 0257-7747
  • E-ISSN: 1996-2207



A banker's reference (also called a status opinion or banker's report) essentially consists of "information given [by the bank] in confidence as to the respectability and financial standing of a particular person or business concern" (Weerasooria (1993) 519). The reference may either take the form of a typed report or it may be given in the form of a code which is generally used and understood by banks (see generally Goosen (1999) 244; Fourie "Confidential bank reports" 1995 28 30; Hood (2012) 90). A banker's reference normally arises in two main situations. Firstly, a bank may be requested by its customer to obtain a reference on the creditworthiness of a third party. This is one of the services that it normally offers to its customer, which is ancillary to its main banking business. Secondly, a bank may be requested by a third party to provide a reference on one of its own customers.

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