Reconciliation and prize payment requirements for the Otjiwarongo Sports Bonanza.

Reconciliation of outstanding balances

On behalf of Mendozer Investments CC, the notice thanks the event organisers for their support, cooperation and assistance in making the event a success, and appreciates the commitment and effort that went into the planning and execution of the event.

As the financial reconciliation and settlement of outstanding obligations proceeds, the event organisers are asked to provide a full reconciliation of all outstanding balances, including the correct amounts due to creditors and any other parties to whom payment remains outstanding.

For all outstanding creditor payments, the following documentation must accompany the reconciliation:

1. The correct and verified outstanding balance due to each creditor.
2. The banking details of the creditor.
3. A valid banking confirmation letter from the relevant financial institution confirming the account details.
4. Where payment is to be made through an electronic wallet, a letter from the relevant cellphone service provider confirming ownership of the cellphone number registered for the wallet.

Prize payments to teams

All prize monies will be paid directly into the respective teams' bank accounts by Mendozer Investments CC. Each team must therefore submit its official banking details together with a valid banking confirmation letter confirming the account details.

In instances where a team does not have a dedicated team bank account, the team leader may submit personal banking details, provided that these are accompanied by a valid banking confirmation letter from the relevant bank, and a cellphone number ownership confirmation letter from the relevant cellphone service provider where an electronic wallet is being used.

Prescribed payment process

The notice is explicit about the payment route: "For the avoidance of doubt, Mendozer Investments CC will not, under any circumstances, make payments through any method other than the payment process prescribed above." The requirement is intended to ensure proper financial controls, accountability, verification and an accurate audit trail for all payments relating to the event.

All outstanding reconciliations and supporting documentation should be submitted as soon as possible to facilitate the timely processing of payments.

The notice is addressed to the Sports Bonanza Event Organisers, Aniger Investments CC, P.O. Box 602, Otjiwarongo, and is signed by the Managing Director of Mendozer Investments CC.

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