Section 3: Contractual obligations

Chapter IV of this Title shall apply to the business of issuing and managing electronic money, without prejudice to the additional requirements laid down in this Section.

Prior to any contract or offer binding the parties, the contractual terms and conditions are provided, on paper or any other durable medium, under the conditions set out in I of Article L. 314-13 in terms that are clear and easily understandable to the electronic money holder. They are provided, on paper or any other durable medium, in French unless otherwise agreed by the parties.

The contract between the issuer and the electronic money holder shall clearly set out the conditions and the timeframe for redeeming electronic money units. If, by way of exception to Article L. 133-30 and within the framework of Article L. 133-31, charges following redemption are provided for, they shall be clearly specified in the contract. The contract shall specify the amount, nature and detailed calculation of these charges.

The contract specifies that repayment is made at the face value of the electronic money units.

The issuer shall ensure that all transactions required to manage the currency defined in Article L. 315-1 of this Code comply with the accessibility requirements set out in Article L. 412-13 of the French Consumer Code.