Acknowledge receipt of applications within 24 hours.
Process applications and ensure certificates are issued within 10 working days.
- If payment is made to the FPB ABSA account but does not reflect distributor reference, or no application forms are sent to FPB to attach to the funds; the cash deposit will be kept for a period of 12 months while the FPB make efforts to trace the depositor.
- Should all efforts fail by the date of expiry of the twelve months, and the distributor is untraceable, the funds will be recognised as revenue by the FPB.
- Once the funds are recognised by the FPB as revenue, the distributor will forfeit the right to claim the funds and cannot use the funds for future transactions.
