Multiply each recurring charge by the periods in which it applies. A small monthly charge can matter across a long agreement.
What to check
- Fee amount
- number of payments and any changes in the schedule
Use the written quote to separate cash received, scheduled payments and charges outside those payments. Keep a calculation with each quote.
A decision to avoid
Comparing a monthly fee without considering how long it continues.
A calculation you can check
Illustration only: cash received R2 000; three payments of R750; a separate required charge of R50. Total paid = 3 × R750 + R50 = R2 300. Difference from cash received = R2 300 − R2 000 = R300. This difference is not an annual interest rate. Include the charge only if it is outside the three payments; do not count it twice.
Questions about this decision
What should I check first?
Multiply each recurring charge by the periods in which it applies. A small monthly charge can matter across a long agreement.
Which information do I need for this decision?
Fee amount, number of payments and any changes in the schedule.
Which mistake should I avoid here?
Comparing a monthly fee without considering how long it continues.
How do I check fee amount?
Locate the actual dated record for Fee amount. Compare it with the other records in this checklist; ask the organisation responsible for any unexplained difference.
How do I check number of payments and any changes in the schedule?
Locate the actual dated record for number of payments and any changes in the schedule. Compare it with the other records in this checklist; ask the organisation responsible for any unexplained difference.
What should I do if a required detail is missing?
Mark it as unresolved. Ask for that precise detail before choosing; do not substitute an advertised example for your own document.
What is the next practical step?
Use the written quote to separate cash received, scheduled payments and charges outside those payments. Keep a calculation with each quote.
How can I verify the explanation?
Use the documents listed above. Check quoted amounts and dates in the original record; use the official reference links for the organisation’s guidance.
