S.L. 376.10 Art. 11Pre-contractual information relating to credit agreements referred to in regulation 4(1)(c).    S.L. 330.07.  S.L. 330.07.

(1) For credit agreements referred to in regulation

4(1)(c), the pre-contractual information referred to in regulation 10(1)

shall, by way of derogation from regulation 9(3), be provided on paper or on another durable medium chosen by the consumer by means of the European Consumer Credit Information Form provided in the Second Schedule, and such information shall be clear, comprehensible and all information provided in such form shall be equally prominent.

(2) The creditor shall be deemed to have fulfilled the information requirements stipulated in sub-regulation (1) and regulation 5(1)(a) and (b) of the Distance Selling (Retail Financial Services) Regulations if the said creditor has supplied such form.

(3) For credit agreements referred to in regulation 4(1)(c), the pre-contractual information referred to in regulation 10(1) shall, by way of derogation from regulation 9(3), specify all of the following elements, in a prominent way in Part I of the form contained in the Second Schedule on one (1) page:

(a) the identity of the creditor as well as, where applicable, of the credit intermediary involved;

(b) the total amount of credit;

(c) the duration of the credit agreement;

(d) the borrowing rate, or all borrowing rates if different borrowing rates apply in different circumstances;

(e) the annual percentage rate of charge and the total amount payable by the consumer;

(f) in the case of a credit in the form of deferred payment for specific goods or services and in the case of linked credit agreements, the specific goods or services and their cash price;

(g) the costs in the case of late payments, that is, the interest rate applicable in the case of late payments and the arrangements for its adjustment and, where applicable, any charges payable for default;

(h) the amount, number and frequency of payments to be made by the consumer and, where appropriate, the order in which payments shall be allocated to different outstanding balances charged at different borrowing rates for the purposes of reimbursement;

(i) warning regarding the consequences of missing or late payments;

(j) the existence or absence of a right of withdrawal;

(k) the existence of a right of early repayment and, where applicable, information concerning the creditor’s right to compensation; and

(l) the geographical address, telephone number and email address of the creditor as well as, where applicable, the geographical address, telephone number and email address of the credit intermediary involved:

Provided that in the event that all the elements referred to in sub-regulation (3) cannot be displayed in a prominent way on one (1) page, they shall be displayed in Part I of the form contained in the Second Schedule on two (2) pages at most, and in such case, the information referred to in sub-regulation (3) (a) to (g) shall be displayed on the first page of the form:

Provided further that in the case of voice telephony communications, as referred to in regulation 5(3) of the Distance Selling (Retail Financial Services) Regulations, the description of the main characteristics of the financial service to be provided pursuant to regulation 5(1)(c)(ii) shall include at least the elements referred to in sub-regulation (3) of this regulation and the form contained in the Second Schedule shall be provided to the consumer by the creditor on a durable medium immediately after the conclusion of the credit agreement.

(4) The pre-contractual information referred to in sub-regulation (1) shall specify all of the following elements, which shall be displayed after, and clearly separated from the elements listed in sub-regulation (3):

(a) the type of credit;

(b) where different borrowing rates apply in different circumstances, the conditions governing the application of each borrowing rate, any index or reference rate applicable to the initial borrowing rate, the charges applicable from the time the credit agreement is concluded and, where applicable, the conditions under which those charges may be changed;

(c) a representative example illustrating the annual percentage rate of charge and the total amount payable by the consumer, referring to all of the assumptions used in order to calculate such rate;

(d) the conditions and procedure for terminating the credit agreement;

(e) information concerning the way in which the creditor’s compensation shall be determined in the event of early repayment, where applicable;

(f) an indication that the consumer may be requested to repay the amount of credit in full at any time, where applicable;

(g) a reference to the right of the consumer to be informed immediately and free of charge in accordance with regulation 19(2), of the result of a database consultation carried out for the purposes of assessing his creditworthiness;

(h) an indication that the price was personalised on the basis of automated processing, including profiling, where applicable;

(i) the period of time during which the creditor is bound by the pre-contractual information provided in accordance with this regulation, where applicable,;

(j) a reference to the possibility for the consumer of having recourse to an out-of-court complaint and redress mechanism and the methods for having access to it;

(k) a warning and explanation regarding the legal and financial consequences of non-compliance with the other commitments linked to the specific credit agreement; and

(l) a repayment schedule containing all payments and repayments over the duration of the credit agreement, including the payments and repayments for any ancillary services relating to the credit agreement which are sold simultaneously, whereby payments and repayments, in the event that different borrowing rates apply in different circumstances, are based on reasonable upward changes in the borrowing rate.

(5) The information displayed in the form contained in the Second Schedule shall be consistent, clearly legible and shall take into account the technical constraints of the medium on which it is displayed, and the information shall be displayed in an adequate and suitable way on the different channels, taking interoperability into account.

(6) Upon request from the consumer, the creditor and, where applicable, the credit intermediary shall, in addition to the form contained in the Second Schedule, provide the consumer free of charge, with a copy of the draft credit agreement, provided that the creditor, at the time of the request, is willing to proceed to the conclusion of the credit agreement with the consumer.

(7) This regulation shall not apply to suppliers of goods or services acting as credit intermediaries in an ancillary capacity:

Provided that this is without prejudice to the obligation of the creditor or where applicable, the credit intermediary, to ensure that the consumer receives the pre-contractual information referred to in regulations 10 and 11.