After 6 months of issues & delays from FNB my bond was finally registered on 03 May 2013. I picked up on 09 May 2013 that the interest rate was not in line with the interest rate as signed for at the lawyers office - FNB are now refusing to honour the Staff Variation interest rate reduction as per the signed Variation Agreement.
FNB are now insisting that I get a written guarantee from WesBank that they would be renewing my contract at the end of my current contract period. This would not be possible as WesBank cannot give me this in writing a full 5 months before my current contract expires as this places them at risk of me being able to hold them to the written agreement without the normal process of performance appraisal and rate negotiation prior to renewal.
This was never a term of the agreement - the agreement states that I am entitled to a 2% discount on my approved interest rate so long as I am employed at WesBank - the 2% rate reduction benefit will be removed as soon as I no longer work at WesBank.
After signing the staff variation document at the lawyers - FNB are legally bound to adjust my approved interest rate down by 2% so long as I am employed at WesBank.
0 comments