Bank Account Pledge Agreement Template for South Africa

1. Bank's Rights and Obligations: Required when the bank is a party to the agreement, detailing the bank's role and responsibilities

2. Multiple Accounts Provisions: Needed when the pledge covers multiple accounts, potentially at different banks

3. Currency Provisions: Required for accounts held in foreign currencies or multiple currencies

4. Set-off Rights: Optional provisions regarding set-off rights between parties

5. Priority Arrangements: Required when there are multiple security interests or competing claims

6. Interest and Costs: Optional section detailing treatment of interest earned and costs incurred

7. Power of Attorney: Optional provision granting specific powers to the pledgee

8. Tax Provisions: Required when there are specific tax implications to be addressed

1. Schedule 1 - Pledged Account Details: Detailed information about the pledged account(s), including account numbers and banks

2. Schedule 2 - Form of Notice to Bank: Template notice to be sent to the bank(s) regarding the pledge

3. Schedule 3 - Form of Bank's Acknowledgment: Template acknowledgment to be obtained from the bank(s)

4. Schedule 4 - Secured Obligations: Description of the obligations secured by the pledge

5. Schedule 5 - Required Account Balances: If applicable, details of minimum balance requirements

6. Appendix A - Related Security Documents: List and/or copies of related security documents if part of a larger security package