BACKGROUND On or about 10 March 2003, Charter Life Insurance Company Ltd (“Charter”) entered into a written broking Agreement (“the Agreement”) with ECE Financial Holdings (“ECE”). In terms of the Agreement, ECE was to act as an independent intermediary for Charter’s financial products and as compensation for same, ECE would receive commission on premiums Charter
BACKGROUND AND SUMMARY This case went on appeal to the Supreme Court of Appeal (the “SCA”) wherein the SCA upheld an appeal against the decision of the High Court of South Africa, Gauteng Division, Pretoria (the “Court”). The issue before the SCA was whether or not the suretyship covered the liabilities arising under two agreements,