Agricultural Produce Agents Act, 1992 (Act No. 12 of 1992)RulesRules in respect of Export Agents, 2025Part 4 - Financial and Administrative Duties and Responsibilities of Export Agents |
| 20. | Costs |
| (a) | An export agent shall not recover costs or expenses at an amount, rate, or scale other than which was agreed amongst the export agent and Principal or disclosed in the export agent’s standard marketing terms. |
| 21. | Fees and Commission |
| (a) | No export agent may claim remuneration in an amount or at a higher price, rate or scale than the agreed remuneration price, rate or scale or otherwise disclosed in the export agent’s standard marketing terms. |
| 22. | Accounting Records |
| (a) | Export Agents shall keep full and correct accounting records relating to all monies received, kept, or expended by him on behalf of his principals, all financial transactions incurred in the course of sale of its principal/s fresh produce, and all fresh produce received, kept, sold, and lawfully destroyed. |
| (b) | Export agents are not required to keep the records at their premises but must ensure that they are available for inspection within 30 (thirty) days of the Registrar's request. |
| (c) | Records may be kept in an appropriate electronic or recorded format, which are accessible and readily reducible to written or printed form. |
| (d) | In the event of any other public regulation requiring a person acting as an export agent to keep and retain the information referred to in these Rules then such export agent shall be deemed to have complied with the provisions of these Rules if and to the extent that the said export agent complied with the said public regulation; provided that such other public regulation is in this regard not less onerous than these Rules. |
| 23. | Auditing / Verification of Accounting Records |
| (a) | An export agent shall cause his financial statements to be audited or independently reviewed at his expense by an auditor within 6 (six) months after the date of his financial year end. |
| (b) | The determination as to whether an audit or independent review is required shall be determined with reference to the legislation applicable to the export agent in this regard. |
| 24. | Customer foreign currency account |
| (a) | The export agent shall also open and maintain a customer foreign currency account for all income received in foreign currency. 25) Deposits in bank accounts (a) The proceeds of the sale of fresh produce shall, forthwith on receipt thereof, be deposited in the bank account of the export agent. |
| 25. | Deposits in bank accounts |
| (a) | The proceeds of the sale of fresh produce shall, forthwith on receipt thereof, be deposited in the bank account of the export agent. |