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Durban Mayor bail allowed

Zandile Gumede, eThekwini mayor, and two more suspects appeared in the specialized trade crime court in Durban on a string of corruption charges. Deputy regional secretary Gumede and Mondli Mthembu apparently orchestrated last month’s march to the Durban city council demanding the removal of the city manager because he did not want to sign a payment for an illegal tender.…

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What are the Administrative Bonds for?

The Administrative Bails, specialize in ensuring compliance with different types of contracts, which may include same legal and economic obligations purchase orders, work orders or contracts. These contracts are between two or more people and these can be both physical and moral. Administrative Bonds The main objective of the Administrative Bonds is to guarantee the fulfillment in time and form,…

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BAIL

GENERAL RULES Under the guarantee agreement, a person guarantees to satisfy the creditor an obligation assumed by the debtor, if he does not comply. The bond will be given in writing, and does not admit extensive interpretation. The bond can be stipulated, although without the consent of the debtor or against its will. Future debts may be subject to bail;…

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Important changes in the provisions on bonds

The regulatory aftermath of the Get Backu scandal is to be, among others, a significant change in the regulations regarding the issue of corporate bonds. The bonds will no longer be a simple and fast intra-group financing instrument. Soon, each issue will be supervised by an external entity, and information on bonds (also non-public) and their issuer will be publicly available. The regulatory…

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