Subsection 1: Advisory service

The creditor or credit intermediary shall explicitly indicate to the borrower whether it offers the advisory service referred to in Article L. 313-13. Before the conclusion of the contract relating to this service, it specifies, on paper or on any other durable medium: 1° Whether it is an independent adviser referred to in article L. 313-14; 2° If the recommendation made in the context of this service relates to the…

In order to be able, in the context of providing an advisory service, to recommend appropriate credit agreements to the borrower, the creditor or credit intermediary shall gather the necessary information on the borrower, on his personal and financial situation and on his preferences and objectives. This recommendation is based on up-to-date information and on reasonable assumptions as to the risks incurred by the borrower during the term of the…