Subsection 4: Formation of the contract

Where the consumer exercises his right of withdrawal from the timeshare or long-term holiday product contract, any ancillary contract, including the exchange contract, shall be terminated ipso jure without cost or compensation.The ancillary contract means a contract by which the consumer acquires services related to a timeshare contract or long-term holiday product contract, these services being provided by the trader or a third party on the basis of an agreement…

With regard to the long-term holiday product contracts mentioned in article L. 224-70, payment shall be made in accordance with a staggered payment schedule from which no exceptions may be made. Payments, including any contributions, are divided into annual instalments, each of equal value. The professional shall send a request for payment in writing, on paper or on any other durable medium, at least fourteen days before each due date.

Where payment of the price is made in whole or in part by means of credit granted to the consumer by the trader or through a third party, the exercise by the consumer of his right of withdrawal from the timeshare, long-term holiday product, resale or exchange contract shall entail the automatic termination, without costs or compensation, of the credit agreement.