When a consumer is offered, at the point of sale or by a means of distance selling of goods or services, a revolving credit agreement to finance the purchase of specific goods or services for an amount exceeding a threshold set by decree, the creditor or credit intermediary shall accompany the revolving credit offer with an amortisable credit proposal.
Retailers offering a programme with benefits of any kind and including credit also offer the consumer another programme with benefits of any kind not linked to credit.
When a revolving credit facility is opened, a credit agreement, on paper or any other durable medium, must be drawn up for the conclusion of the initial credit and, under the same conditions, for any increase in that credit granted subsequently.
In addition to the compulsory information set out in article L. 312-28, the credit agreement stipulates that each instalment must include a minimum repayment of the capital borrowed, which varies according to the total amount of credit granted and the terms of which are defined by decree.
Where the revolving credit is accompanied by a card entitling the borrower to benefits of any kind, the credit agreement shall indicate to the borrower the terms and conditions under which this card offers the possibility of paying in cash or on credit and shall inform the borrower of the terms and conditions for using the credit.
Where a credit card is associated with the contract, the words: “credit card” are specified in legible characters on the front of the card.
Where the revolving credit is accompanied by a card giving entitlement to benefits of any kind, the benefit of these benefits may not be made conditional on payment on credit.In this case, the creditor or credit intermediary is obliged to offer the consumer the option of paying in cash with this card.Any dematerialised means of payment ancillary to a revolving credit is treated as a card. .
The use of credit results from the consumer’s express agreement expressed at the time of payment or within a reasonable period of time, on receipt of the updated statement at the time of performance of the credit agreement provided for in Article L. 312-71.
Where a payment card issued by a credit institution is associated either with a deposit account and a revolving credit facility, or with a payment account and a revolving credit facility, the use of the credit facility results from the consumer’s express agreement expressed at the time of payment with the card or within a reasonable period of time, on receipt of the updated statement of performance of the credit…
The creditor shall provide to, by any means, monthly and within a reasonable time before the payment date, an updated statement of the performance of the revolving credit agreement, making clear reference to the previous statement and specifying: 1° The date on which the statement was drawn up and the date of payment; >The fraction of capital available 3° The amount of the instalment, including the portion corresponding to interest;…
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
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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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