In the event of default by the borrower and where immediate repayment of the capital is not requested, the rate increase provided for in article L. 313-50 may not exceed three interest points.
For the advances provided for in articles R. 317-1 et seq. of the French Construction and Housing Code, interest is charged at a rate that cannot exceed the highest of the maximum interest rates for State-guaranteed subsidised loans pursuant to article R. 312-3-1 of the Code de la construction et de l’habitation applicable at the time of the offer of advance.
The indemnity provided for in the event of termination of the credit agreement may not exceed 7% of the sums due in respect of the outstanding capital plus accrued and unpaid interest.
The indemnity provided for in article L. 313-60 in the event of default by the lessee in the performance of hire-purchase contracts or leases accompanied by a promise to sell may not exceed 2% of the share of payments corresponding to the capital value of the property to be made up to the scheduled date of transfer of ownership.
Under the conditions set out in article R. 313-4, the inherent risks and the conditions for granting the loans mentioned in article L. 313-64, are provided to the borrower in the European standardised information sheet referred to in Article L. 313-7.
The loan offer may only be made to borrowers who bear the exchange rate risk and who have declared on their honour that they receive more than half of their annual income in the currency of the loan or that, at the time the contract is signed, they hold financial or property assets in the same currency equal to at least 20% of the loan in question. This declaration is…
Once the loan has been concluded, the creditor shall regularly warn the borrower, on paper or on another durable medium, at least when the value of the total outstanding amount payable by the borrower or of the regular instalments varies by more than 20% of what it would be if the exchange rate between the currency of the credit agreement and the euro at the time the credit agreement was…
The judicial court hears actions arising from the application of articles L. 313-63 and L. 314-20.
The calculation of the overall effective rate is based on the assumption that the credit agreement will remain valid for the agreed term and that the creditor and borrower will fulfil their obligations in accordance with the conditions and within the periods specified in the credit agreement. For credit agreements containing clauses which allow for adjustments to the interest rate and, where applicable, to the charges included in the overall…
For credit transactions intended to finance the needs of a professional activity or intended for legal persons governed by public law, the overall effective rate is an annual rate, proportional to the period rate, in arrears and expressed per hundred monetary units. The period rate and the duration of the period must be expressly communicated to the borrower.The period rate is calculated actuarially on the basis of a unit period…
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is a Registered Trademark of
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182, rue de Rivoli
75001, Paris France
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is a Registered Trademark of
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182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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