Subsection 3: Formation of the contract and compulsory information

When a revolving credit facility is opened, a credit agreement, on paper or any other durable medium, must be drawn up for the conclusion of the initial credit and, under the same conditions, for any increase in that credit granted subsequently.

In addition to the compulsory information set out in article L. 312-28, the credit agreement stipulates that each instalment must include a minimum repayment of the capital borrowed, which varies according to the total amount of credit granted and the terms of which are defined by decree.

Where the revolving credit is accompanied by a card entitling the borrower to benefits of any kind, the credit agreement shall indicate to the borrower the terms and conditions under which this card offers the possibility of paying in cash or on credit and shall inform the borrower of the terms and conditions for using the credit.

Where a credit card is associated with the contract, the words: “credit card” are specified in legible characters on the front of the card.