means an agreement, irrespective of its form, in terms of which—
| (a) | one party advances money or grants credit to another, and at the time of doing so, takes possession of goods as security for the money advanced or credit granted; and |
| (b) | either— |
| (i) | the estimated resale value of the goods exceeds the value of the money provided or the credit granted, or |
| (ii) | a charge, fee or interest is imposed in respect of the agreement, or in respect of the amount loaned or the credit granted; and |
| (c) | the party that advanced the money or granted the credit is entitled on expiry of a defined period to sell the goods and retain all the proceeds of the sale in settlement of the consumer’s obligations under the agreement; |