In order to avoid doubt, the reference to point 2 (b) to agreements for which contracts can be awarded in accordance with Section 140B is a reference to the agreements that are affected by the amendments to the legal acts that came into force until 23 February 2017 included. Institutional credit transactions also include revolving and non-renewable credit options. However, they are much more complicated than retail agreements. They may also include the issuance of bonds or a credit consortium when several lenders invest in a structured credit product. For more details on when a contract is legally binding and not, please see: A: If you cannot find your copy of the original agreement, the lender should be able to provide you with a copy. Lenders fully announce all the terms of the loan in a credit agreement. The important credit terms included in the credit agreement include the annual interest rate, the application of interest on outstanding balances, all account-related fees, the duration of the loan, payment terms and possible consequences for late payments. Credit charges mean additional fees set out in your credit contract, e.g.B, establishment fees, monthly administration fees. The contractual documents themselves can be long and detailed, but it is important to read the terms and conditions before signing. In most cases, all types of credit (from credit cards to mortgages) have some kind of credit contract that must be signed and accepted by both the bank, the lender and the customer – the contract will not come into effect until the document has been signed by both parties and is still subject to a cooling-off period under current legislation. Withdrawal is made when the lender or expropriation agent enters your home, garage or any other place to pick up items if you don`t pay what you owe.

You can only take with you items that are listed as collateral in your credit contract. Credit contracts for individuals vary depending on the type of credit issued to the customer. Customers can apply for credit cards, private loans, mortgages and revolving credit accounts. Each type of credit product has its own industry credit contract standards. In many cases, the terms of a credit contract for a retail credit product are made available to the borrower in his or her credit application. Therefore, the application for credit can also be used as a credit contract.