P-40.1, r. 3 - Regulation respecting the application of the Consumer Protection Act

Section 61.0.7 Disposition versions

2019-08-01

61.0.7. The contract for the loan of money must comply with the following standard contract and provide as many lines as necessary to meet all the requirements:

CONTRACT FOR THE LOAN OF MONEY (where applicable, add HIGH-COST at the beginning)

(CONSUMER PROTECTION ACT, S. 115)

Date: ............................................................................

(date on which contract is entered into)

Place: .............................................................................

(place where contract is entered into)

....................................................................................

(name of merchant)

....................................................................................

....................................................................................

(address of merchant)

....................................................................................

(Where applicable, technological address of merchant)

....................................................................................

(Where applicable, merchant’s permit number)

....................................................................................

(name of consumer)

....................................................................................

....................................................................................

(address of consumer)

1. Net capital		$...........
2. Interest		$...........
3. Other components of credit charges		$...........
4. Total of credit charges for the term of the loan		$...........
5. Total obligation of consumer		$...........
6. Credit rate	=========== %
(Where the capital is paid in a number of advance payments, the amount and date of any advance payment made or to be made to the consumer or how that amount and the date are determined: ……………………………………………………………………………)
The term of this contract is ………………………………………
Date on which credit charges begin to accrue (or how that date is determined): ………………………………………………………………………………..
The total obligation of the consumer is payable at (address) in .............. (number) deferred payments of $.............. on .............. (number) day of each consecutive month as of (due date of the first payment) and a final payment of $.............. on ..............(due date of the last payment)
(Where applicable, mention the nature of any optional contracts, the charge for such contracts or how it is determined and that the consumer has a right of resiliation with respect to such contracts.)
(Where applicable, mention the existence and the subject matter of any security given by the consumer to guarantee the performance of the consumer’s obligations.)
The merchant performs the merchant’s principal obligation when entering into this contract.
	⃞ Yes ⃞ No
if “no”, on ...........
(date of the performance of the merchant’s principal obligation)

O.C. 994-2018, s. 37.