Article L312-11 of the French Consumer Code
November 8, 2023
In all advertising, it is forbidden to offer, in any form whatsoever, promotional prizes linked to the acceptance of an advance offer of credit.
In all advertising, it is forbidden to offer, in any form whatsoever, promotional prizes linked to the acceptance of an advance offer of credit.
Prior to the conclusion of the credit agreement, the creditor or credit intermediary shall provide the borrower, in the form of an information sheet, on paper or on another durable medium, with the information required to compare different offers and enabling the borrower, taking into account his preferences, to clearly apprehend the extent of his commitment. The list and content of the information to be included in the information sheet…
At the borrower’s request, if the creditor is prepared to grant the borrower credit, the creditor shall provide, free of charge, in addition to the information referred to in Article L. 312-12, a copy of the contract offer on paper or any other durable medium. Any additional information that the lender wishes to give the borrower is provided in a document separate from the sheet referred to in article L….
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.
Before entering into the credit agreement, the creditor checks the borrower’s creditworthiness on the basis of sufficient information, including information provided by the borrower at the request of the creditor. The creditor shall consult the file provided for in article L. 751-1, under the conditions set out in the order referred to in article L. 751-6, except in the case of a transaction referred to in 1 of article L….
Where credit transactions are concluded at the point of sale or by means of a distance communication technique, an information sheet separate from the sheet referred to in Article L. 312-12 is provided by the creditor or credit intermediary to the borrower. This information sheet, drawn up on paper or on another durable medium, includes details of the borrower’s income and expenditure and, where applicable, any current loans taken out…
The credit agreement offer is drawn up on paper or on another durable medium. It shall be provided in as many copies as there are parties and, where applicable, to each of the guarantors. Delivery or dispatch of the offer of a credit agreement to the borrower obliges the creditor to maintain the terms and conditions for a minimum period of fifteen days from such delivery or dispatch.
The borrower may withdraw without giving reasons within a period of fourteen completed calendar days from the day of acceptance of the offer of a credit agreement including the information provided for in Article L. 312-28.
The period mentioned in article L. 312-19 short from the day of acceptance of the credit agreement offer including the information provided for in article L. 312-28.
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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