Section 5: Formation of the credit agreement

The sending of the offer obliges the lender to maintain the conditions it indicates for a minimum period of thirty days from its receipt by the borrower. The offer is subject to acceptance by the borrower and the guarantors, natural persons, declared. The borrower and the guarantors may not accept the offer until ten days after they have received it. Acceptance is given by letter, as evidenced by the postmark…

Until the borrower accepts the offer, no payment in any form whatsoever may be made by the lender to or on behalf of the borrower, or by the borrower to the lender, in respect of the transaction in question. Until such acceptance, the borrower may not, in the same way, make any deposit, subscribe to or endorse any commercial paper, or sign any cheque. If a direct debit authorisation from…

The offer is always accepted subject to the resolutory condition that the contract for which the loan is requested is not concluded within four months of its acceptance. The parties may agree to a longer period than that defined in the first paragraph. >.

When the borrower informs his lenders that he is taking out several loans for the same transaction, each loan is concluded subject to the condition precedent that each of the other loans is granted. This provision only applies to loans where the amount exceeds 10% of the total credit.

Where the contract for which the loan was requested is not concluded within the period set pursuant to the provisions of article L. 313-36, the borrower shall repay all sums that the lender has already actually paid to him or on his behalf, as well as any interest relating thereto; the lender may only retain or request study fees, the maximum amount of which is set according to a scale…

In the event of loan renegotiation, changes to the initial credit agreement are made solely in the form of a rider drawn up on paper or on another durable medium. This rider includes, on the one hand, an amortisation schedule detailing for each instalment the capital remaining due in the event of early repayment and, on the other hand, the annual percentage rate of charge and the cost of the…