Dispute began when informed they could no longer charge a new initiation fee each time a consumer seeks to extend the period of their pawn transaction loan.
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Lenasia Business Granted Interim Relief After Franchise Agreement Battle
May 03, 2021
The Johannesburg High Court has granted interim relief to a business in Lenasia after a franchise agreement battle.
Judge Faeeza Kathree Setiloane upheld an application brought by Superb Steel who trades as Incredible Money against Cash Crusaders for interim stay on writ of execution.
Four applications were brought by Incredible Money before courts.
The case stems from Superb Steel’s decision to terminate their franchise agreement with Cash Crusaders owing to the fact that the franchisor allowed three other stores to be opened in close proximity to each other.
An arbitration award was handed down confirming the cancellation of four franchise agreements which Cash Crusaders had entered into with Superb Steel, and directing Superb Steel to pay about R11 million in damages to Cash Crusaders for the early termination of the franchise agreement.