Membership Terms & Conditions

MEMBERSHIP TERMS AND CONDITIONS

Membership of the IOBSA

Every member of the Institute of Bankers is required to subscribe to the IOBSA Code of Professional Conduct. The membership application and/or event registration is made in your personal capacity and not that of your employer. You are personally responsible for ensuring payment of any and all monies due to the Institute.

Terms and Conditions of Membership

On the receipt of a membership application / membership renewal by the IOBSA offices it is taken as confirmation that you have read, understood and accepted the Terms and Conditions of membership and hereby acknowledge that you have familiarised yourself with the current Terms and Conditions, which will be displayed on our website.

A membership application is the accepting of the Terms and Conditions, as well as any additional Terms and Conditions available on the website, the signing and submitting of the Code of Professional Conduct and the Declaration form it is deemed to be a legally binding contract.

Once a membership application has been processed, a tax invoice issued and you are legally obliged to pay the membership fee.  The Institute has the legal right, as well as an obligation to its members in good standing to take any and all steps to recover outstanding fees.

Company, contact and any other details, as provided by the members, are held on a central database and are deemed as being true and correct.

In terms of Chapter 3 of the Electronic Communications and Transactions Act, in visiting the Institutes website and/or communicating with the Institute by electronic means, you as an applicant and/or member acknowledges that all agreements, notices, disclosures and other communication sent by the Institute satisfy any legal requirement including and not limited to the requirement that such communication should be in writing.

For access and usage to the “Membership Area” on the website, the member must keep their password confidential once issued via the website domain, and in the event that the member has compromised such information, the Institute shall not be liable for any loss or damage suffered by the member in any way whatsoever.

The Institutes’ website will be the definitive source for updated information and all intellectual property is owned by or licensed to the Institute SA, and may not be used without our prior written consent.  The Institutes’ website may provide links to other websites, as a convenience to applicants / members; however Institute is not responsible for the content of any linked site and the inclusion of any link on Institutes’ site and does not imply endorsement by IOBSA of any other websites or their products or services.

Terms and Conditions of membership may be revised from time to time and such updates will be posted to the website. Therefore each time the member renews their Membership, the version of the Terms and Conditions current at that time will apply.

Payment Terms and Outstanding Fees

1. Payment terms are strictly C.O.D. and no exceptions will be considered.
2. Members/Applicants are advised that they are personally responsible for outstanding fees.
3. The registration fee is due and payable on presentation of invoice.
4. Any registration fees still outstanding after 90 days will result in the membership application being deleted from the database or the application for memebership / designation being NTU’d (not taken up) and cancelled.
5. Members/Applicants whose fees are still outstanding after 30 days will receive an email notification informing them that their account is in arrears and payment is due immediately.
   1. Members/Applicants whose fees are still outstanding after 60 days will be advised that their membership/application will be suspended unless payment is received immediately.
   2. Members/Applicants whose fees are still outstanding after 90 days will be cancelled.
6. Events
   1. Non-members are advised that they are personally responsible for their course, conference, workshop fees.
   2. Delegates who have not paid for conferences, courses, forums, seminars, workshops, etc will not be allowed to attend unless payment is received before commencement of the event.
   3. The Institute does not complete supplier/vendor registration forms.
   4. Cancellation fees will apply for events. Refunds for events / seminars will be strictly according to the terms and conditions of that event.
7. No refund will be made on membership cancellations / resignation for member / designation payments received.
8. Rates are inclusive of VAT, which is payable on all services directed from South Africa.

Membership Application / Renewal / Update

1. The membership fees are payable for new applications based on the month of joining i.e. January to last day of June the full twelve (12) month member fee is payable. Applications for new membership received from first day of July to last day of December pay half (½) of the annual fees.
2. The fee payable for a “Designation” does not form part of Membership fees and is payable per designation application.
3. The designation approved by the Institute as a Professional Body and used by a member in relation to their personal business conduct i.e. for Curricula Vitae (CV), business cards etc. is the related “Designation Fee” that is payable.
4. The membership payable is based on the highest designation awarded.
5. Annual membership fees become due and payable on 1 January of each year. Membership to the Institute is renewable on an annual basis.
6. The applicant / member consents to the Institute carrying out education history checks as and when required.
7. The applicant / member consents to the Institute carrying out employment reference checks as and when required.
8. Designation applications will be forwarded to the Academic Board Sub Committee on receipt of all the required documentation. Failure to provide the document within a reasonable time period (maximum of  two (2) months) will result in the application being discarded and the applicant will then need to commence the process from scratch.
9. No application for a designation will be considered without the payment of the “non-designated” membership fee. The fee for the designation and the adjusted membership fee, based on the designation awarded, will be invoiced to the applicant. Failure to pay the invoice will see the applicant recorded as a member without designation, unless a cancellation request for the application has been sent and received, where after the “non-designated” membership fee will be refunded to the applicant, should they not join the Insitute as a member.
10. It shall be the members’ responsibility to update their information and inform the Institute, in writing, of any changes such as a change of address, telephone numbers, etc.
11. Membership fees are revised annually and are published on the website and will be communicated to members in writing.
12. Members are given a total of three (3) months to renew their membership from the last day in December of the preceding year of membership i.e. membership will lapse on the last day of March in year of renewal.
    1. If the membership has not been renewed by the indicated expiry date the membership automatically expires and the memeber is then recorded as a cancelled member.
    2. The designation awarded to the member will then be removed from the SAQA database as required by SAQA. Members are only entitled to remain on the database and to use the designation for as long as they are a member in good standing.
    3. Members whose membership has lapsed or who wish to reinstate their membership will be required to pay the full annual membership fee applicable at that time as well as a once off reregistration for reinstating their designation. This fee will amount to the designation application fee for the specific category of membership applicable at the time.
    4. Members without designation who wish to reinstate their membership will be required to pay the full annual membership fee applicable at that time.
13. The renewal process is detailed in all of the notifications sent out.
14. A member may not cede, delegate or otherwise transfer any rights or obligations arising from these Terms and Conditions without our prior approval, which approval will be given at the Institutes’ sole discretion.

Cancellations of Applications / Memberships:

1. Cancellation of membership / application for membership and/or designation will only be accepted in writing.
2. Non payment of an invoice will NOT be accepted as a cancellation of a membership application.
3. You acknowledge that membership to the Institute is on an individual basis only and as such you are personally responsible for ensuring the payment of all monies due the Institute and will be held personally liable for non payment of any and all invoices issued in your name.
4. Membership is not transferable.
5. On termination of membership the awarded Professional designation lapses in line with cancellation date. The incorrect usage of designations is subject to the defined Disciplinary Code and other sanctions.