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Deposit Requirements

Rationale and authority

Impact Meter Services conducts an electricity/water meter-reading service to recover costs incurred by consumers for the electricity and water consumed at their respective premises. In turn, Impact pays the electricity/water account for the entire building/complex in which such consumers are situated to the local municipal authority, which supplies the bulk electricity/water to that building/complex. Impact Meter Services is, therefore, the electricity and or water supplier to its consumers.

Being an electricity/water supplier, Impact Meter Services prescribes deposits payable by consumers before electricity and water service will be supplied to a consumer. Local municipal authorities require a deposit for services provided, and Impact Meter Services applies the same criteria.

This is because meters are read monthly, and invoices generally reach our clients approximately a month later. Invoices allow a period of grace for payment, which results in most payments being received about two months after the actual consumption period. This means Impact is continually exposed to the risk of two full months of unpaid consumption. As electricity /water is not supplied on credit, deposits that are equivalent more or less equal to two months' consumption are held in payment of this unpaid period.

In the case of no historical consumption (such as new buildings), deposits are calculated according to square meters of space occupied by tenants.

Significance of deposits

Consumers will be reminded that the deposit payable for their premises forms an integral part of the existing electricity/water account and should not be seen as a separate entity. This means that if a deposit is not paid in full, the electricity/water supply for the premises, in respect of which that deposit is required, can be discontinued even if the actual consumption has been paid up to date.

Increased Deposits

All deposits are continually revisable. Please refer to the standard terms and conditions.

Deposit refunds

Deposits are fully refundable when clients vacate their premises but will only be paid after the entire balance of the final account has been deducted from that place. The remaining portion will then be refunded. Conversely, should there still be money owing to Impact Meter Services after the deposit has been credited to the account, the client remains responsible for that account until it is settled in full.

Existing deposits

Where consumers have existing deposits with other electricity management companies or landlords in respect of their electricity accounts, refunding such deposits to consumers remains an issue between the consumer and the deposit holder.

Where such deposits are withheld or not refunded by the deposit holder for any reason outside of the contract, the consumers concerned are entitled to demand such deposit within a reasonable time (4 to 6 weeks after vacating date is considered a good time). Should deposits not be refunded, consumers may resort to legal recourse to recover such debt from the deposit holder.

Impact Meter Services remains neutral on these issues and, as a third party, cannot become involved in such deposit recovery procedures. However, the consumer's claim to an existing deposit with a third party does not constitute grounds to waive the deposit required by IMS.

Surityships for non-s.a. citizens and minors

Persons willing to sign such a suretyship should be aware that they will be held responsible for proper and complete settlement of the consumer's debt to Impact Meter Services, should such a consumer not meet his obligations in this regard.

Any person under 18 years of age who wishes to agree to the supply of electricity/water to a premises with Impact Meter Services is considered a minor. Such persons are required to provide a suretyship (forms available at Impact offices) from a person who is 18 years of age or older, who is a SA citizen, who can show proof of income, and who has a permanent residential address within the RSA.

SSuch consumers may, at the time of their 18th birthday or after that, request Impact Meter Services for the return or annulment of such suretyship and enter into a new agreement in their adult capacity at no extra cost to themselves about deposit requirements.

Minors who cannot provide a suretyship may negotiate a service based upon an increased deposit to be provided as security until the consumer reaches 18. Such negotiation will be done at the sole discretion of the General Manager of Impact Meter Services.

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