BACKGROUND Pick n Pay Retailers (Pty) Ltd (the “Applicant”) launched an urgent application to perfect its security in of the form of a general notarial bond (“the Bond”) held in favour of Pine Valley Supermarket (Pty) Ltd (the “Respondent”). The Applicant sought to perfect its security as a result of the Respondent’s failure to effect
INTRODUCTION Commonly, creditors need to decide on the method in which to obtain the best security for the due and proper performance by the debtor of its obligations under, for example, a loan agreement. Often, creditors decide on a special and general notarial bond which provides the best possible security in one document without incurring
Introduction The registration of a mortgage bond over the immovable property of the debtor (“mortgagor”), in favour of the creditor (“mortgagee”), is a common example of granting security. A lesser known form of security is the notarial bond, which functions in a similar way to mortgage bonds but is registered over the movable property of