- November 7, 2016
- Posted by: v301recr
- Category: Articles
The 2016 ADRA (Associate of Debt Recovery Agents) AGM was certainly a memorable occasion. A meeting of minds between the industry’s top representatives meant the event was an incredible networking opportunity, but most importantly, a time to reflect on the position of the industry as a whole.
A number of key areas were discussed over the course of the AGM, including the Desai judgement, which was a huge success for the industry as a whole. The Constitution Court ruled that the judgement on EAO’s would have no retrospective action whatsoever, with regards to the granting of EAO’s by clerks (as opposed to magistrates. This means that all EAO’s granted from December 1994 to July 2014 will continue to stand.
Another highly significant issue that was elaborated on further during the AGM was the shift from NAEDO (Non-Authorised Early Debit Orders) and AEDO (Authorised Early Debit Orders) to AC (Authenticated Collections). Organisations in the debt recovery space need to be critically aware of this, and should be as proactive as possible in their approach to this. Presently, we are in Phase 2 of the Proposed AC Rollout, with a number of leading banks participating in interbank testing. The Pilot Phase will kick in from July 2017. VeriCred has been in the process of preparing for this for many months, and we can confidently state that we will be up to the challenge of getting AC rolled out successfully.
One of the most important points of the day is the voting and announcement of the new ADRA Board of Directors. VeriCred Collections would like to extend our congratulations to our Managing Director, Riandi Mare, for being successfully elected to the ADRA Board. Her experience and expertise will serve to greatly benefit the industry and future success of the ADRA. We would also like to pass on our congratulations to the rest of the newly elected Board. We all of them every success in their future endeavors.
A special mention must also go out to VeriCred’s Founder and Chairman, Mr. Arnold Olivier, who was awarded the Lifetime Honorary Presidency Award by ADRA for his pivotal contributions to the Debt Recovery Industry. Through his commitment, he has contributed directly to the advancement of the Industry, as well as the African economy as whole. We are extremely proud of him, and wish him all the best in his ongoing semi-retirement.