If there is payment of charges and interest without amortisation of the capital, the contract shall include a statement of the periods and terms of payment of debit interest and recurring and non-recurring ancillary charges.
Where the instalments paid by the borrower do not immediately result in a corresponding amortisation of the total amount of credit, but serve to reconstitute the capital at the periods and under the conditions provided for in the credit agreement or in an ancillary agreement, and this method of performance does not guarantee repayment of the total amount of credit granted, the agreement shall expressly state this.
The table referred to in e of 6° of Article R. 312-10 indicates the amounts, periods and conditions of the instalments as well as the breakdown of each instalment between capital repayment, interest calculated on the basis of the borrowing rate and, where applicable, additional costs. If the interest rate is not fixed or if the additional costs may be modified under the credit agreement, the table shall indicate clearly…
The lease with purchase option contract shall be written in type no smaller than size eight. It clearly and legibly includes the contractual information provided for in article L. 312-28 annexed to this code.
The threshold mentioned in article L. 312-34 is set at €10,000 over a twelve-month period.
When the lender demands immediate repayment of the outstanding capital pursuant to article L. 312-39, it may claim compensation equal to 8% of the outstanding capital at the date of default.
Where the lender does not require immediate repayment of the outstanding capital, it may demand compensation from the defaulting borrower equal to 8% of the unpaid due instalments. However, if the lender agrees to defer future instalments, the amount of compensation is reduced to 4% of the deferred instalments.
In the event of default in the performance of a leasing contract accompanied by a promise of sale or hire purchase, the lessor is entitled to demand, pursuant to article L. 312-40, an indemnity equal to the difference between, on the one hand, the residual value excluding taxes of the goods stipulated in the contract, increased by the updated value, on the date of termination of the contract, of the…
When the lessor does not require the contract to be terminated, he may ask the defaulting lessee for compensation equal to 8% of the unpaid due instalments.However, if the lessor accepts deferrals of future instalments, the amount of the compensation is reduced to 4% of the deferred instalments.The amount of the compensation is increased by the applicable tax.
A buyer who requests immediate delivery or provision of the goods or services pursuant to article L. 312-47 must affix to the sales contract a request in his own handwriting in the following terms: “I request immediate delivery (or immediate provision of services).
Our French business lawyers are here to help.
We offer a FREE evaluation of your case.
Call us at +33 (0) 1 84 88 31 00 or send us an email.
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
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
Resources
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
Useful links
Our French business lawyers are here to help.
We offer a FREE evaluation of your case.
Call +33 (0) 1 84 88 31 00 or send us an email.
All information exchanged through this website will be communicated to lawyers registered with a French Bar and will remain confidential.
