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

Section 61.0.13 Disposition versions

2019-08-01

61.0.13. An instalment sale contract must comply with the following standard contract and provided as many lines as necessary to meet all the requirements:

INSTALMENT SALE CONTRACT (where applicable, add HIGH-COST at the beginning)

(CONSUMER PROTECTION ACT, S. 134)

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, the merchant’s permit number)

....................................................................................                               (name of consumer)

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

....................................................................................                             (address of consumer)

Description of the goods that are the subject matter of the contract ..........................................................................

1.	(a) Cash sale price of the goods	$...........
	(b) Installation, delivery and other costs	$...........
2.	(a) Total cash price		$===========
	(b) Cash payment		$...........
	(c) Value of any goods given in exchange		$...........
3.	(a) Balance — Net capital	$===========
	(b) Interest	$...........
	(c) Other components of the credit charges	$...........
4.	Total of the credit charges for the term of the contract	$===========
5.	Consumer’s total obligation	$===========
Credit rate		........... %
The term of this contract is ………………………………………
Date on which credit charges begin to accrue (or how that date is determined): ………………………………………………………………………………..
The consumer’s total obligation is payable at (address) in .............. deferred payments of $.............. on .............. day (number) 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 delivers the good(s) subject to this contract when entering into this contract.
	⃞ Yes ⃞ No
if “no”, on .............. (date of delivery of goods)
The merchant remains the owner of the goods sold and the transfer of the right of ownership does not take place when the contract is entered into, but will take place only (describe the time and terms of the transfer of ownership).

O.C. 994-2018, s. 37.