Subsection 1: Explanations provided to the borrower

The creditor or credit intermediary shall provide the borrower with explanations enabling him to determine whether the proposed credit agreement is suited to his needs and financial situation, in particular on the basis of the information contained in the sheet referred to in Article L. 312-12. It draws the borrower’s attention to the essential characteristics of the loan or loans proposed and to the consequences that these loans may have…

Where the conclusion of a transaction mentioned in article L. 312-1 gives the right, or may give the right, free of charge, immediately or in the future, to a premium in the form of products or goods, the value of this premium may not exceed a threshold set by order of the Minister for the Economy.