As a registered second hand goods dealer Basic Sense is required by sub-regulation 21(2)(a) of the Second Hand Goods Act 6 of 2009 to establish and verify the identity of any person from whom second-hand goods are acquired.

Additionally, as an auctioneer Basic Sense is required by sub-regulation 26(2) of the Consumer Protection Act 68 f 2008 (“CPA”) to establish and verify the identity of every prospective bidder prior to the commencement of an auction.

To ensure compliance with the above mentioned regulations, Basic Sense adheres to the regulations of the Financial Intelligence Centre Act 38 of 2001 (“FICA”) in respect of the establishment and verification of identity.

What this means for our customers is that they are required to provide us with all the required FICA information and verification documents before they can utilise- / participate in any of the following service offerings: 1) Online Auctions and 2) Formal Auctions. This applies to Sellers and prospective Bidders.

There are different types of customers, as defined in terms of the Regulations to FICA, for which there are different requirements. To see what FICA information and documents we require from you, please follows the links below:

To promote our FICA compliant customers on the Basic Sense Website, we distinguish their accounts with the “FICA Verified Account” status. Being a Basic Sense “FICA Verified Account” holder increases your credibility and encourages buyers’ trust. 

verified account

  FICA Verified Account

If you have a question regarding any FICA requirement or are unable to provide the required documents, please contact Basic Sense for assistance. >> Our online contact form <<