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

Section 61.0.8 Disposition versions

2019-08-01

61.0.8. The contract for the loan of money must include, at the very beginning, any of the boxes providing the following information, as the case may be:

INFORMATION BOX — CONTRACT FOR THE LOAN OF MONEY

Net capital paid in one instalment

(Consumer Protection Act, section 115)

Net capital	Indicate the net capital of the loan.
Credit rate	Indicate the credit rate calculated in accordance with the Consumer Protection Act.
Term of contract	Indicate the term of the contract.
Date on which credit charges begin to accrue or how that date is determined	Indicate the date on which credit charges begin to accrue or how that date is determined.
Payments	Indicate the amount, frequency and date of the payments (or the day on which they are payable).

INFORMATION BOX — CONTRACT FOR THE LOAN OF MONEY AT A VARIABLE RATE

Net capital paid in one instalment

(Consumer Protection Act, section 115)

Net capital	Indicate the net capital of the loan.
Initial credit rate	Indicate the credit rate calculated in accordance with the Consumer Protection Act applicable on the date of the contract and the fact that it is variable during the contract.
Term of the contract determined according to the initial credit rate	Indicate the term of the contract according to the initial credit rate.
Date on which credit charges begin to accrue or how that date is determined	Indicate the date on which credit charges begin to accrue or how that date is determined.
Payments determined according to the initial credit rate	Indicate, according to the initial credit rate, the amount and the frequency of the payments, and the date of the payments (or the day on which they are payable).

INFORMATION BOX — CONTRACT FOR THE LOAN OF MONEY

Net capital paid in a number of advance payments

(Consumer Protection Act, section 115)

Net capital	Indicate the net capital of the loan.
Credit rate	Indicate the credit rate calculated in accordance with the Consumer Protection Act.
Term of contract	Indicate the term of the contract.
Amount and date advance payments on net capital or how they are determined	Indicate the amount and date of the advance payments on the net capital of the loan or how they are determined.
Date on which credit charges begin to accrue or how that date is determined	Indicate the date on which credit charges begin to accrue or how that date is determined.
Payments	Indicate the amount, frequency and date of the payments (or the day on which they are payable).

INFORMATION BOX — CONTRACT FOR THE LOAN OF MONEY AT A VARIABLE RATE

Net capital paid in a number of advance payments

(Consumer Protection Act, section 115)

Net capital	Indicate the net capital of the loan.
Initial credit rate	Indicate the credit rate calculated in accordance with the Consumer Protection Act applicable on the date of the contract, and the fact that it is variable during the contract.
Term of the contract established according to the initial credit rate	Indicate the term of the contract according to the initial credit rate.
Amount and date of advance payments on the net capital or how the amount and date are determined	Indicate the amount and date of the advance payments on the net capital of the loan or how the amount and date are determined.
Date on which credit charges begin to accrue or how that date is determined	Indicate the date on which credit charges begin to accrue or how that date is determined.
Payments established according to the initial credit rate	Indicate, according to the initial credit rate, the amount and frequency of the payments, and the date of the payments (or the day on which they are payable).

The box provided for in the first paragraph may be given to the consumer in a separate document provided no later than with the contract The merchant is then exempt from the obligation of providing it at the very beginning of the contract.

O.C. 994-2018, s. 37.