Act Amending And Adding Provisions On Credit Consumer And Mortgage Credit In Several Books Of The Code Of Law Economics (1)

Original Language Title: Loi portant modification et insertion de dispositions en matière de crédit à la consommation et de crédit hypothécaire dans plusieurs livres du Code de droit économique (1)

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belgiquelex.be - Carrefour Bank of Legislation

22 AVRIL 2016. - An Act to amend and insert provisions on consumer credit and mortgage credit in several books of the Economic Law Code (1)



PHILIPPE, King of the Belgians,
To all, present and to come, Hi.
The House of Representatives adopted and sanctioned the following:
CHAPTER 1er. - General provision
Article 1er. This Act regulates a matter referred to in Article 74 of the Constitution.
CHAPTER 2
Amendments to Book Ier Code of Economic Law
Art. 2. In section I.9 of the Economic Law Code, inserted by the Act of 19 April 2014, the following amendments are made:
1° 41°, (f) is replaced by the following:
"(f) the costs of opening and holding a particular account, the use of a means of payment that allows for both transactions and debits from that account and other fees related to payment transactions, in any case where the opening or holding of an account is mandatory to obtain the credit or to obtain it under the conditions announced. Even though the opening of the account would be optional, the costs associated with that account must, for a consumer credit, be clearly and distinctly indicated in the credit contract or any other contract with the consumer; »;
2° on the 41°, first paragraph, is supplemented by (g) and (h), as follows:
"(g) the costs of real property expertise if this expertise is required to obtain the requested credit;
(h) security charges. »;
3° on the 41°, paragraph 2, is supplemented by (c), as follows:
"(c) the registration and transcription fees for the transfer of a property; »;
4° the 39° is completed by the following paragraph:
"The contract by which a mortgage is granted for the security of an open credit as referred to in section 80, paragraph 3, of the Mortgage Act of 16 December 1851, is not considered a credit contract within the meaning of this book, provided that this contract does not contain provisions contrary to this book; »;
5° the 44° is completed by the following paragraph:
"For mortgage credits with a real estate destination, the rate of debt on an annual basis I is the result of the comparison:
(1 + i)n = (1 + I),
i is the periodic rate and the number of periods included in the year; »;
6° a 44/1° is inserted, as follows:
"44/1° periodic rate: the rate, expressed as a percentage per period from which interest for the same period is calculated; »;
7° the 53° is replaced by the following:
"53° mortgage security: a security right that can take the following forms:
(a) a mortgage or a lien on a building or a collateral in the same way, or
(b) the subrogation of one or more third parties in the rights of a privileged creditor on a building, or
(c) the right to claim a mortgage guarantee, even if that right is stipulated in a separate act, or
(d) the mortgage guarantee for the benefit of the person who constitutes a security right; »;
8° the 53/1°, 53/2° and 53/3° are inserted, as follows:
"53/1° mortgage credit with a real estate destination: the credit contract guaranteed by a real property right for residential use or a mortgage security that is intended for the financing of the acquisition or retention of real property rights and the related costs and taxes, or the refinancing of the same credit contract.
Is also considered a mortgage with a real estate destination:
(a) the credit contract not guaranteed by a mortgage security for the financing of the acquisition or retention of real property rights, with the exception of the renovation of a real property;
(b) the credit contract for the acquisition or retention of a building as referred to in section 2, paragraph 1erthe Act of 26 March 2012 concerning the registration of inland navigation vessels other than inland navigation vessels referred to in Article 271, Book II of the Code of Commerce;
53/2° mortgage credit with a mobile destination: the credit contract guaranteed by a real property right for residential use or a mortgage security that is not intended for the acquisition or retention of real property rights and related costs and taxes, or refinancing of the same credit contract;
53/3° mortgage credit: the credit that can be a mortgage credit both with a mobile and real estate destination; »;
9° the 75° is repealed;
10° the article is supplemented by the 84° to 92°, written as follows:
"84° credit rating: the assessment of debt repayment prospects arising from the credit contract;
85° advisory services: the provision of personalized recommendations to a consumer regarding one or more transactions related to credit contracts;
86° Conditional commitment or guarantee: a credit contract that serves as a guarantee for a separate but auxiliary operation, and in which the capital guaranteed by a real property is taken only if one or more of the events mentioned in the contract occur;
87° shared fund credit contract: a credit contract with a repayable capital based on a percentage, contractually established, of the value of the real property at the time of the repayment or repayment of the capital;
88° related sale: proposing or selling, in the form of a lot, a credit contract at the same time as other separate financial products or services, where the credit contract is not offered to the consumer separately;
89° Group sale: proposing or selling, in the form of a lot, a credit contract at the same time as other separate financial products or services, the credit contract being also offered to the consumer separately, but not necessarily to the same conditions as when it is proposed in a grouped manner with the by-product services;
90° foreign currency credit contract: a credit contract in which the credit is:
(a) denominated in a currency other than that in which the consumer receives the income or holds the assets on which the credit is to be repaid; or
(b) denominated in a currency other than that of the Member State where the consumer resides;
91° term of payment: the period between:
(a) the time when the lender has made available to the consumer a sum of money or a purchasing power, or the time when the grant of the enjoyment of a property or the provision of such property or the provision of a service and the time when the consumer must have made the first payment;
(b) two successive times in which the consumer must have made a payment;
92° the amount of a term: the amount of a payment that the consumer must have made at the end of each term of payment. "
CHAPTER 3. - Amendments to Book VII, Title 1er Code of Economic Law
Art. 3. In the same Code, Article VII.1 inserted by the Act of 19 April 2014, is supplemented by the 6th, as follows:
"6° of Directive 2014/17/EU of the European Parliament and of the Council of 4 February 2014 on consumer credit contracts relating to residential real property and amending Directives 2008/48/EC and 2013/36/EU and Regulation (EU) No 1093/2010. "
CHAPTER 4. - Amendments to Book VII, Title 4, Chapter 1erthe Economic Law Code
Art. 4. Article VII.64, § 1erin the same Code, inserted by the Act of 19 April 2014, the following amendments are made:
1° in the opening sentence of paragraph 1er, the words "with a representative example" are repealed;
2° in paragraph 1er, 6°, the words "and the amount of instalments" are replaced by the words "and terms of payment";
3° in paragraph 2, the words "The King determines for any advertisement, regardless of the medium used, the size of the characters", are replaced by the words "The King may determine for any advertisement, regardless of the medium used, the size of the characters";
4° paragraph 1er is completed with the following paragraph:
"The information referred to in paragraph 1er, are mentioned using a representative example and this is always followed. The King sets criteria to determine this example. "
Art. 5. Section VII.66 of the same Code, inserted by the Act of 19 April 2014, is repealed.
Art. 6. Article VII.70, § 1erin the same Code, inserted by the Act of 19 April 2014, the following amendments are made:
1° to 8° the words "the amount, number and periodicity of payments to be made by the consumer" are replaced by the words "the amounts of a term, the terms of payment and the number of payments to be made by the consumer";
2° paragraph 1er is supplemented by a paragraph that reads as follows:
"The lender and the credit intermediary shall act as part of the development, award, intermediation or provision of advisory services relating to credit formulas and, where applicable, by-law services for consumers or in the performance of a credit contract, in an honest, equitable, transparent and professional manner, taking into account the rights and interests of consumers. With respect to the granting, intermediation or provision of credit advisory services and, where applicable, miscellaneous services, activities are based on information relating to the consumer's situation and any specific request made by the consumer, as well as reasonable assumptions as to the risks to the consumer's situation on the duration of the credit contract. »
Art. 7. In section VII.77 of the same Code, inserted by the Act of 19 April 2014, the following amendments are made:
1° in paragraph 1er paragraph 1er the word "severe" is inserted between the words "evaluation" and the words "solvability";
2° paragraph 3 of paragraph 1er is supplemented by a sentence as follows:
"The conditions relating to access to the Central or any other file that is used to assess the solvency of the consumer or a person who constitutes a personal security right or, in order to verify that solvency is maintained, cannot be discriminatory. »;
3° a paragraph is inserted between paragraphs 3 and 4 of paragraph 1er :
"The lender ensures that adequate procedures and information on which the solvency assessment is based is established, documented and maintained. It is for this purpose in the head of each consumer and, if necessary in the head of the person who constitutes a personal security, a credit record in which the information on which the credit rating is based is established, documented and maintained. »;
4° in the Dutch text of paragraph 2, paragraph 1er, the words "de verplichtingen" are replaced by the words "de verbintenissen".
Art. 8. In Article VII.78, § 3, 3, of the same Code, inserted by the law of 19 April 2014, the words "the amount, number and periodicity of payments to be made by the consumer" are replaced by the words "the amounts of a term, the terms of payment and the number of payments to be made by the consumer".
Art. 9. Article VII.79, paragraph 1erthe same Code, inserted by the Act of 19 April 2014 and amended by the Act of 26 October 2015, is supplemented as follows:
"If applicable, it also indicates that the refusal is based on automated data processing. "
Art. 10. In article VII.80, paragraph 2, of the same Code, inserted by the Act of 19 April 2014, the words "by registered letter to the post" are replaced by the words "by registered mail".
Art. 11. In article VII.83, § 2, 1°, of the same Code, inserted by the law of 19 April 2014, the words "by registered letter to the post" are replaced by the words "by registered mail".
Art. 12. Article VII.86, § 3, paragraph 1erthe second sentence is replaced by the following:
"Without prejudice to Article VII.94, §§ 1 and 3, credit contracts, with the exception of the opening of credit, may only provide for the variability of the debtor rate in the cases and in accordance with the rules laid down in Articles VII.143 and VII.144. "
Art. 13. In Article VII.92, paragraph 3, of the same Code, inserted by the Act of 19 April 2014, the 1st is replaced by the following:
"1° the consumer has put the seller of the property or the service provider in place by registered mail to perform the obligations arising from the contract, without having received satisfaction within one month from the date of delivery; "
Art. 14. In article VII.96, paragraph 2, of the same Code, inserted by the Act of 19 April 2014, the words "by registered letter to the post" are replaced by the words "by registered mail".
Art. 15. In Article VII.98, § 1er, from the same Code, inserted by the law of April 19, 2014, the words "by registered letter to the post" are replaced by the words "by registered mail".
Art. 16. In Article VII.103 of the same Code, inserted by the Act of 19 April 2014, the words "by registered letter to the post" are replaced by the words "by registered mail".
Art. 17. In Article VII.105, paragraph 1erin the same Code, inserted by the Act of 19 April 2014, the following amendments are made:
1° in the 1°, the words "two deadlines" are replaced by the words "two amounts of a term" and the words "after the filing of a recommended letter containing a stay" are replaced by the words "after a recommended consignment containing a stay";
2° in the 3°, the words "after the deposit to the post of a recommended letter containing a stay" are replaced by the words "after a recommended consignment containing a stay".
Art. 18. In Article VII.106, § 2, paragraph 2, of the same Code, inserted by the law of April 19, 2014, the words "after the filing of a recommended letter containing a stay" are replaced by the words "after a recommended consignment containing a stay".
Art. 19. Article VII.108, § 1erParagraph 1er, of the same Code, inserted by the law of 19 April 2014, the words "by registered letter to the post" are replaced by the words "by registered mail".
Art. 20. In Article VII.110 of the same Code, inserted by the Act of 19 April 2014, the words "two maturity dates" are replaced by the words "two amounts of a term".
Art. 21. Section VII.111 of the same Code, inserted by the Act of 19 April 2014, is replaced by the following:
"Art. VII.111. By derogation from section 2021 of the Civil Code, the lender may not act against the bond and, if applicable, against the person who constitutes a security right, unless the consumer is in default of at least two amounts of a term or an amount equivalent to 20 p.c. of the total amount to be refunded or the last maturity, and if after placing the consumer on a registered shipment, the consumer has not made a recommendation. "
Art. 22. In Article VII.114 of the same Code, inserted by the Act of 19 April 2014, the following amendments are made:
Paragraph 3 is supplemented by the following sentence:
"The manner in which lenders pay their staff and credit intermediaries, as well as the way in which credit intermediaries pay their staff and sub-agents, does not affect their obligation to act in an honest, fair, transparent and professional manner, taking into account the rights and interests of consumers. »;
2° the article is supplemented by paragraphs 5 and 6 as follows:
Ҥ 5. The lenders comply, as part of the development and application of their staff compensation policy responsible for the assessment of creditworthiness, with the principles set out below in the manner and to the extent necessary given their size, internal organization and the nature, scope and complexity of their activities:
1° the compensation policy allows and promotes sound and effective risk management and does not encourage risk taking beyond the lender's tolerated risk level;
2° the compensation policy is consistent with the lender's business strategy, objectives, values and long-term interests, and includes measures to avoid conflicts of interest, including ensuring that remuneration does not depend on the number or proportion of applications accepted.
§ 6. When lenders or credit intermediaries provide advisory services, the remuneration structure of the staff concerned does not prejudice its ability to best serve the interests of the consumer and, in particular, does not depend on the sales objectives. » .
Art. 23. In Article VII.119 of the same Code, inserted by the Act of 19 April 2014, the following amendments are made:
1° to § 1er5°, paragraph 4, the words "is communicated to the applicant by registered letter to the position" are replaced by the words "is communicated to the applicant by registered mail";
2° paragraph 1er, is completed by an 11°, written as follows:
"11° the mobilization bodies within the meaning of Article 2 of the Act of 3 August 2012 on various measures to facilitate the mobilization of claims in the financial sector. "
CHAPTER 5. - Amendments to Book VII, Title 4, Chapter 2, of the Economic Law Code
Art. 24. Chapter 2, title 4, of Book VII of the Economic Law Code, inserted by the Act of 19 April 2014, is replaced by the following provisions:
"Chapter 2. - Mortgage credit.
Section 1re- Advertising
Art. VII.123. § 1er. Any advertising and commercial communication as referred to in article I.8, 23°, relating to credit contracts must be fair, clear and not misleading.
Any advertising and commercial communication refers to the identity and, where appropriate, the geographic address of the lender and the credit intermediary that are relevant to consumer relations.
§ 2. Any advertising and commercial communication for a credit contract that is specifically focused on:
1° the consumer's incentive, unable to face his debts, to use credit;
2° the development of the ease or speed with which the credit can be obtained;
3° the incentive for the consolidation or centralization of current credits or that specifies that current credit contracts have little or no influence on the appraisal of a credit application.
Is also prohibited any advertising and commercial communication for a credit contract that:
1° refers to an approval, registration or registration as a lender or intermediate credit;
2° with reference to the maximum overall actual annual rates or the legality of the applied rates, gives the impression that these rates are the only ones that can be applied.
Any reference to the legally authorized maximum overall effective annual rate and to the legally authorized maximum debtor rate shall be unequivocally, legible and apparent or, where appropriate, audible and shall specify in a precise manner the maximum legally authorized overall annual effective annual rate;
3° indicates that a credit contract can be concluded without information to assess the financial situation of the consumer;
4° mentions another identity, address or quality as communicated by the advertiser in connection with the approval, registration or registration;
5° to indicate a type of credit, uses only a different name than that used in this book;
6° mentions advantageous rates without specifying the particular or restrictive conditions to which the benefit of these rates is subject;
7° indicates with words, signs or symbols that the amount of the credit is made available in cash or cash;
8° includes "free credit" or an equivalent mention, other than the indication of the overall effective annual rate;
9° in which formulations that may cause the consumer to have false expectations regarding the availability or cost of a credit;
10° promotes an act that must be regarded as a breach or violation of this book or its decrees.
Art. VII.124. § 1er. Any advertisement that indicates a rate of interest or figures related to the cost of credit for the consumer makes clear, concise and apparent reference to the following basic information:
1° the identity of the lender or, where applicable, of the credit intermediary;
2° where applicable, the fact that the advertisement concerns a secured mortgage credit by one of the security rights referred to in article I.9, 53°;
3° the debt rate, specifying whether it is fixed or variable or a combination of both, together with information relating to all costs included in the total cost of credit for the consumer;
4° the amount of the credit;
5° the overall effective annual rate, which is shown on advertising at least as visibly as any interest rate;
6° the duration of the credit contract;
7° if applicable, the amount of the terms;
8° where applicable, the total amount due by the consumer;
9° where applicable, the number of terms of payment;
10° where applicable, a warning that possible exchange rate fluctuations may influence the total amount due by the consumer.
When the conclusion of a contract for an incidental service, including insurance, is mandatory to obtain the credit or to obtain it under the conditions announced, and the cost of that service cannot be determined beforehand, the obligation to enter into this contract is clearly, concisely and visibly mentioned, with the overall effective annual rate.
The information referred to in this paragraph is easy to read or clearly audible, if any, according to the medium used for advertising.
§ 2. The information referred to in paragraph 1erParagraph 1er, 3° to 9°, are mentioned using a representative example and is always followed. The King sets criteria to determine this example.
The amount of the credit and the duration are based on the amount of the credit and the duration that, depending on the type of credit contract for which an advertisement is made, are representative of all the lender's offers or the credit intermediary or, if any, for the financing of the products or services offered by the seller. If several types of credit contracts are offered simultaneously, a separate representative example must be provided for each type of credit contract.
§ 3. The King may determine for any advertisement, regardless of the medium used, the size of the characters with respect to information relating to the nature of the transaction, its duration, the fixed or variable character of the debtor rate, the amount of refunds and the overall annual effective rate and, if this is a promotional rate, the period during which that rate applies.
Section 2. - Prospectus.
Art. VII.125. The lender and, where applicable, the credit intermediary provide free permanent availability of general, clear and understandable information, in the form of a prospectus, on a sustainable medium or in an electronic form.
These general information includes at least the following:
1 the identity and geographic address of the party providing the information;
2° the possible purposes of the credit;
3° the forms of security rights, including, where applicable, the possibility that they are in another Member State;
4° the possible duration of credit contracts;
5° the types of debtor rates available, indicating whether they are fixed, variable or both, accompanied by a brief presentation of the characteristics of a fixed rate and a variable rate, including their implications for the consumer. These rates as well as any costs and allowances may be added to the prospectus in the form of a separate document provided that the latter is dated and that this addition is mentioned in the prospectus itself and that a new representative example is mentioned;
6° in the case where foreign currency credit contracts are proposed, the indication of foreign currency(s), with a description of the implications for the consumer, of a foreign currency credit;
7° a representative example of the amount of credit, the total cost of credit for the consumer, the total amount due by the consumer and the overall effective annual rate. The King sets criteria to determine this example.
The amount of the credit and the duration are based on the amount of the credit and the duration that, depending on the type of credit contract that is taken over in the prospectus, are representative of all the lender's offers or the credit intermediary or, where applicable, for the financing of the products or services offered by the seller. If several types of credit contracts are offered simultaneously, a separate representative example must be provided for each type of credit contract;
8° the indication of other possible costs, not included in the total cost of the consumer credit, to be paid in connection with the credit contract;
9° the range of the various terms and conditions of repayment of the credit to the possible lender, including the amount of terms and terms of payment;
10° where applicable, a clear and concise statement that compliance with the terms of the credit contracts does not include a guarantee of reimbursement of the amount of the credit taken;
11° the conditions directly related to an advance refund;
12° the potential need to have the real estate expertise and, where appropriate, the responsible person responsible for ensuring that this expertise is carried out and the costs that may arise for the consumer;
13° an indication of the incidental services to which the consumer is obliged to subscribe in order to obtain the credit and, where applicable, the accuracy that such services may be acquired from a supplier other than the lender;
14° a general warning regarding the possible consequences of non-compliance with obligations arising from the credit contract.
In addition, the general information contains:
1° a description of the types of credit that the lender gives or for which the credit intermediary intervenes;
2° the fee and allowance rate;
3° the nature of the contracts to which the lender or, where applicable, the credit intermediary requires that they be annexed;
4° the date on which the prospectus is applied;
5° an indication of the rate rate rate, including:
(a) an indication of periodic interest rates;
(b) the corresponding debt rates;
(c) any reductions and increases that the lender may give or impose in a general and usual manner;
(d) the conditions for granting the above-mentioned reductions and increases;
(e) the reference indices used under Article VII.143;
6° the identity and address of the file controller to be consulted.
The parties may agree on reductions or increases to the prospectus, whether they are more beneficial to the consumer or if they have been negotiated on its initiative.
The King may expand the list of information to be provided under the prospectus.
Section 3. - Training of the credit contract
Sub-section 1re. - Information to be requested by the lender and credit intermediary.
Art. VII.126. § 1er. As part of the solvency assessment, the lender and the credit intermediary are required to apply to the consumer seeking a credit contract, as well as, where appropriate, to the person who constitutes a personal security, the exact and complete information that the lender considers necessary to assess their financial situation and their repayment faculties. The consumer and the person who constitutes a personal security right are required to respond in an accurate and complete manner.
These requests for information are proportionate and limited to what is required to conduct an appropriate solvency assessment. Lenders may request clarification of the information received in response to these requests if it is necessary to allow the solvency assessment.
The lender or credit intermediary advises the consumer that, when the lender is unable to conduct a credit rating because the consumer chooses not to provide the information or verification elements required for the credit assessment, the credit cannot be granted to the consumer. This warning can be transmitted in a standardized form.
In no case may the information sought be related to race, ethnic origin, sexual life, health, opinions or political, philosophical or religious activities or union or mutualist affiliation.
§ 2. The lender or, where applicable, the credit intermediary shall submit a credit application form, or, where applicable, a consumer and the person who constitutes a personal security, respectively, in the form of a questionnaire describing all information requested by the lender and/or the credit intermediary in accordance with § 1erParagraph 1er. In order to be able to demonstrate the obligations under this section, the lender is required to retain this form as long as the credit was not refunded. The information provided by the consumer or the person who constitutes a personal security may only be communicated and processed by the persons referred to in Article VII.119 § 1er, and, if applicable, through credit.
The lender and, where appropriate, the credit intermediary clearly and easily specifies, at the pre-contractual stage, what information is required and what supporting documents are from independent verifiable sources, that the consumer must provide, and within what time the consumer must provide this information.
The questionnaire refers at least to the purpose of credit, income, dependants, current financial commitments including, inter alia, the number and amount of credit outstanding. The King may complete this list in case the amount of the credit exceeds 3,000 euros.
The questionnaire mentions the files that, in accordance with Article VII.137, will be consulted.
§ 3. Application forms referred to in paragraph 1er paragraph 2 shall contain at least the following data:
1° the rate of fees claimed by the mortgage company;
2° a reference to the prospectus which is of application and the indication of where it is available;
3° if rates are added to the prospectus in the form of a separate document, the date of the said rates.
§ 4. The information is appropriately verified, including references and, where necessary, independent verifiable documents.
Sub-section 2. - Pre-contractual information
Art. VII.127. § 1er. The lender and, if applicable, the credit intermediary, provides the consumer with the personalized information it needs to compare the available credit products in the market, assess their implications and make a decision in the knowledge of the opportunity to enter into a credit contract.
This personalized information is provided as soon as possible, once the consumer has forwarded the necessary information regarding its needs, financial situation and preferences in accordance with Article VII.126 and as soon as possible before the consumer is bound by a credit contract.
Personalized information referred to in paragraph 1er are provided on a sustainable basis by means of the "Standed European Information (ESIS)" form in Appendix 3 to this book.
§ 2. EIS is provided on a sustainable basis by the lender before or at the same time as the submission of the credit offer. If the characteristics of the credit offer differ from the information that was previously provided in the ESIS then this offer is accompanied by a new ESIS.
The lender and, if any, the credit intermediary that provided the SIS to the consumer, are deemed to have met the information requirements of the consumer prior to the conclusion of a distance contract under section VI.55 and are deemed to have met the requirements under section VI.57 only when the lender provided the SIS prior to the conclusion of the credit contract.
§ 3. The submission of a credit offer is mandatory for a mortgage credit with a real estate destination as well as for the mortgage credit with a mobile destination that is accompanied by the creation of a mortgage security. It can only be submitted if all the costs that may be known by the lender are actually mentioned and taken back into the overall effective annual rate. This offer mentions the duration of the validity of the offer and all contractual terms, including a damping table either of the capital and the amount of interest accrued, or, in the event of a replenishment of the capital, the mention of the amount of the single repayment of the capital on the final due date of the credit. The offer of credit links the lender for at least 14 days and can be accepted by the consumer at any time.
§ 4. If the credit is not intended to finance the acquisition or retention of real property rights, the SIS is, for the purposes of this section, replaced by the SECCI referred to in Schedule 1 and if applicable 2 of this book.
§ 5. In the event of a voice communication referred to in Article VI.56, the description of the main characteristics of the financial service referred to in Article VI.56, paragraph 2, (b), shall contain at least items 2 to 6 of Part A of Schedule 3 to this book.
Subsection 3. - Information requirements for mortgage intermediaries
Art. VII.128 § 1er . In due time before entering the intermediation, the credit intermediary provides the following information to the consumer on a sustainable basis:
1° its identity and geographical address;
2° the register in which it was registered, if any, the registration number and the means to verify that registration;
3° if the credit intermediary is linked or works exclusively with one or more lenders. When the credit intermediary is linked or works exclusively with one or more lenders, it shall provide the name of the lender(s) on whose behalf it acts;
4° procedures allowing the consumer or other interested parties to file and process complaints in accordance with the provisions of Book XVI of this Code;
5° where applicable, the existence of commissions or other incentives that lenders or third parties must pay to the credit intermediary for their services under the credit contract, as well as their amount, when known. When this amount is not known at the time of the communication of information, the credit intermediary informs the consumer that the actual amount will be communicated at a later stage in the SIS.
§ 2. On consumer demand, credit brokers who receive a commission from one or more lenders provide information on the different levels of commission payable by the various lenders who provide the proposed credit contracts to the consumer. The consumer is informed that he has the right to require this information.
§ 3. The credit intermediary shall ensure that its sub-agent, in addition to the information to be provided under this section, shall notify any consumer, when contacting it or before dealing with it, in what capacity it acts as well as the credit intermediary it represents.
Sub-section 4. - Adequate explanations
Art. VII.129. The lender and, where applicable, the credit intermediary shall provide the consumer with adequate explanations of the proposed credit contract(s) and any related services, in order to enable the consumer to determine whether the credit contract(s) and the proposed miscellaneous services are appropriate to its needs and financial situation.
Where appropriate, explanations include:
(1) pre-contractual information to be provided in accordance with Articles VII.127 and VII.128;
2° the main characteristics of the proposed products;
3° the specific effects that the proposed products may have on the consumer, including the consequences of a consumer default; and
4° where ancillary services are linked to a credit contract, the indication of whether or not to terminate each component separately and the implications of such a procedure for the consumer.
Subsection 5. - From general rules of conduct
Art. VII.130. The lender and credit intermediary shall act in the context of the development of credit products, or the granting, intermediation or provision of credit advisory services and, where appropriate, of consumer-friendly services or in the performance of a credit contract, in an honest, equitable, transparent and professional manner, taking into account the rights and interests of consumers. Activities related to the granting, intermediation or provision of credit advisory services and, where appropriate, miscellaneous services are based on information relating to the consumer's situation and any specific request made by the consumer, as well as reasonable assumptions as to the risks to the consumer's situation on the duration of the credit contract.
Sub-section 6. - Duty and advice.
Art. VII.131. § 1er. The lender and the credit intermediary are required to seek, within the framework of the credit contracts they usually offer or for which they usually intervene, the type and amount of the credit best suited, taking into account the financial situation of the consumer at the time of the contract and the purpose of the credit.
The lender and the credit intermediary, and exclusively them, offer advice to the consumer. In addition to the conditions and requirements set out in this article, the lender and the creditor shall comply with Articles VII.147/30, §§ 5 and 6, VII.164, § 1erparagraph 2, VII.165, § 1erParagraph 2, VII.180, § 2, 3 and VII.181, § 1er1° and 2°.
§ 2. The lender and credit intermediary explicitly indicate to the consumer, as part of a particular transaction, that they are required to provide advice to the consumer.
§ 3. The lender and credit intermediary shall inform the consumer on a sustainable basis prior to the provision of advice services or, where appropriate, prior to the conclusion of a consulting service contract, if the recommendation is based solely on their own product range in accordance with paragraph 4, paragraph 2, or on a wide range of products from the entire market, in accordance with paragraph 4, paragraph 3, so that the consumer may know the basis on which the recommendation is made.
The information referred to in the first paragraph may be provided to the consumer in the form of additional pre-contractual information.
§ 4. The lender and credit intermediary collect the necessary information about the personal and financial situation of the consumer and its preferences and objectives in order to recommend appropriate credit contracts. This recommendation is based on up-to-date information and takes into account reasonable assumptions about the risks to the consumer situation during the proposed credit contract.
The lender, related agent or sub-agent designated by the lender shall take into account a sufficiently large number of credit contracts in their product range and recommend, among them, one or more credit contracts tailored to the needs and personal and financial situation of the consumer.
The credit broker or its sub-agent take into account a large enough number of credit contracts available on the market and recommend, among them, one or more credit contracts available on the market that are tailored to the needs and personal and financial situation of the consumer.
§ 5. The lender and the credit intermediary act at the best of the consumer's interests:
1° by informing itself of the needs and situation of the latter, and
2° by recommending appropriate credit contracts in accordance with paragraph 4.
The lender and credit intermediary provide the content of the recommendation made by them on a sustainable basis.
The lender and the credit intermediary notify the consumer when, given its financial situation, a credit contract may induce specific risks to the consumer.
§ 6. The use of the terms "advisor" and "advisor" or similar terms is prohibited when advisory services are provided to consumers by a lender or credit intermediary.
§ 7. It is prohibited for any natural or legal person, with the quality of lender or credit intermediary, to claim to the consumer any remuneration, directly or indirectly, for such advice services, including when acting outside of any intermediation or credit.
Sub-section 7. - Duty to investigate
Art. VII.132. The lender may enter into a credit or security contract only after verification of the identification data and, as the case may be, on the basis of:
- the identity card referred to in section 6 of the Act of 19 July 1991 relating to population registers, identity cards, foreign cards and residence documents and amending the Act of 8 August 1983 organizing a National Register of Natural Persons;
- the residence permit issued at the time of registration in the waiting register referred to in section 1er§ 1erParagraph 1er2° of the Act of 19 July 1991 referred to above;
- the identity card, passport or travel document taking place, issued to a foreigner who does not reside in the Kingdom, by the State where he resides or is a national.
Art. VII.133. § 1er. The lender shall, prior to the conclusion of the credit contract, conduct a rigorous assessment of consumer solvency and verify that the consumer will be able to meet its refund obligations. It also assesses the solvency of individuals who have constituted a personal security.
The assessment of solvency is based on the necessary information, sufficient and proportionate to the consumer's income and expenditure, as well as other economic and financial criteria. This information is obtained by the lender from relevant internal or external sources, including from the consumer, including information provided through credit during the credit application process.
To this end, the lender is also required to consult the Central, with the exception of overtaking. The King sets out the terms of this consultation. Conditions relating to access to the Central or any other file that is used to assess the solvency of the consumer or a person who constitutes a personal security right or, to verify whether this solvency is maintained, cannot be discriminatory.
The lender ensures that adequate procedures and information on which solvency assessment is based is established, documented and maintained. It is for this purpose in the head of each consumer and, if necessary in the head of the person who constitutes a personal security, a credit record in which the information on which the credit rating is based is established, documented and maintained. The King determines how the lender provides proof of the Central consultation and the time frame for which the proof must be retained.
For the application of paragraphs 1er at 3, each increase in the amount of the credit implies the conclusion of a new credit contract.
In addition, for indeterminate credit contracts with a mobile destination, the lender is required to review each year, no later than the first working day that follows the anniversary date of the conclusion of the credit contract, on the basis of a new Central consultation, consumer solvency in accordance with paragraphs 1er 3.
§ 2. The lender may only enter into a credit contract if, in the light of the information available to it or should be disposed of, the lender must reasonably consider that the consumer will be able to meet the obligations arising from the contract.
The valuation of solvency is not based primarily on the fact that the value of real property for residential use is greater than the amount of credit or on the assumption that real property for residential use will increase its value.
A credit contract may not be terminated or subsequently modified to the detriment of the consumer on the grounds that the credit rating has been incorrectly performed. This paragraph does not apply if it is proven that the consumer has knowingly concealed or falsified information within the meaning of Article VII.126.
§ 3. To assess the value of residential real property, the lender, in cases where he requests expertise, can rely only on internal and external experts who are professionally competent and sufficiently independent of the credit subscription process to provide impartial and objective expertise. These experts respond, if any, to the legal conditions of access to the profession. The lender records, on a sustainable basis, the report of expertise.
The King may determine the professions authorized to carry out the expertise referred to in paragraph 1. It may also set criteria for which experts must meet.
For the expertise of the residential real property provided as a mortgage security right, the lender ensures that legal standards are applied to the expertise if using an internal expert or takes reasonable steps to ensure that the standards are applied when the expertise is performed by a third party.
Subsection 8. - From the conclusion of the credit contract
Art. VII.134. § 1er. The credit contract is entered into by the handwritten signature or electronic signature and is established on a sustainable basis that includes all the contractual conditions and references referred to in this article. All Contracting Parties with a separate interest shall receive a copy of the credit contract. The credit intermediary receives a copy of the credit offer or, where applicable, the credit contract.
Electronic signature referred to in paragraph 1er is done:
- by an advanced electronic signature made on the basis of a qualified certificate and designed by means of a secure electronic signature creation device, referred to in Article 4, § 4, of the Law of 9 July 2001 establishing certain rules relating to the legal framework for electronic signatures and certification services,
- or by another electronic signature that meets the criteria that the King may set in order to guarantee the identity of the parties, their consent to the content of the credit contract and the maintenance of the integrity of that contract. In the event of a dispute, the lender must demonstrate that this electronic signature effectively guarantees these functions.
The amortization table, referred to in § 3, 4°, of this article, is an integral part of the credit contract.
For a credit opening with a mobile destination, subject to the right of withdrawal, the consumer precedes his signature of the mention of the amount of the credit: "Light and approved for... euros on credit". For all other credit contracts with a mobile destination and subject to the right of revocation, the consumer precedes his signature of the mention of the total amount due by the consumer: "Light and approved for... euros to be refunded". In both cases, the consumer also mentions the date and precise address of the signature of the contract.
§ 2. The credit contract or, where applicable, the offer of credit mentions clearly and concisely:
1° the type of credit;
2° the name, first name, place and date of birth as well as the domicile of the consumer and, where applicable, persons who constitute a security right;
3° the identity of the lender, including its business number, its geographic address to be taken into account for relations with the consumer and the contact details of the competent supervisory administration with the SPF Economy;
4° where applicable, the identity of the credit intermediary, including its business number, its geographic address to be taken into account in relation to the consumer and the contact details of the competent supervisory administration with the SPF Economy;
5° the duration of the credit contract;
6° the amount of the credit and the conditions of the credit;
7° the periodic rate, the debtor rate, the conditions governing the application of these rates and for the variable interest rates, the initial value of any reference index or debtor rate, as well as the periods, conditions and procedures for adaptation of these rates. If different debtor rates apply depending on the circumstances, this information is provided with respect to all applicable rates;
8° the overall effective annual rate and the total amount due by the consumer, calculated at the time of the conclusion of the credit contract. All assumptions, used to calculate this rate, are mentioned. The mention of the overall effective annual rate with all assumptions in the consumer's accepted credit offer is sufficient and should not be renewed in the authentic act that confirms the formation of the credit contract;
9° the procedure to be followed to terminate the credit contract;
10° the clause: "This contract is the subject of a registration in the Central Credits to Individuals pursuant to Article VII.148 of Book VII of the Economic Law Code";
11° the finalities of treatment in the Central;
12° the name of the Central;
13° the existence of a right of access, rectification and deletion of data and the time limits for the retention of data;
14°, if applicable, file charges.
§ 3. In addition to the information referred to in § 2, the credit contract or, where applicable, the credit offer clearly and concisely mentions:
1° if credit can be disposed of by means of a payment instrument, the rules applicable under the law relating to payment services in the event of loss or theft or misuse of the card or title, as well as, where applicable, the maximum amount for which the consumer assumes the risk resulting from the misuse of a third party;
2° if the credit is granted in the form of a payment period for a particular property or service, or in the case of related credit contracts, that product or service and its cash price;
3° the amounts of a term, terms of payment and the number of payments to be made by the consumer, including a possible deposit, and, where applicable, the order in which the payments will be assigned to the different balances due to different debt rates for reimbursement;
4° in case of capital amortization, amounts of a term consisting of amortizing payment and interests, as well as times and conditions to which these amounts must be paid. The added damping table contains the decomposition of each amount of a term, as well as the indication of the remaining balance due after each payment.
When a reduction in the periodic rate is granted, the damping table shows the amounts of a term to be paid and the remaining balances due to this reduction. If the reduction is subject to change, a new damping table is provided, taking into account the changes;
5° if there is a replenishment of capital, the times and conditions to which the interest must be paid and the reconstitutive payments made and the obligation that the capital of the deputy contract will be used for the refund of the amount of credit collected.
If it is used, for the same capital, of several modes of damping or replenishment, the credit contract indicates the quotity of the capital to which each of these modes relates.
Where neither amortization nor a replenishment of capital is stipulated, the credit contract refers to times and conditions for payment of recurring and non-recurring interest and costs;
6° where applicable, the costs of holding one or more accounts to record both the payment transactions and the levies, unless the opening of an account is optional, the costs of using a means of payment allowing both payment transactions and levies, as well as any other costs arising from the credit contract and the conditions under which such fees may be amended in accordance with Article VII.145;
7° the late interest rate applicable in the event of a delay in payment at the time of the conclusion of the credit contract and the terms and conditions for the adjustment of that rate, as well as, where applicable, the costs of non-performance;
8° a warning of the consequences of missing payments;
9° where applicable, the existence of notarial fees;
10° where applicable, the required security and insurance;
11° the existence or absence of a right of withdrawal, the period during which this right may be exercised and the other conditions for exercising it, including information on the obligation of the consumer to repay the capital taken and interest in accordance with Article VII.138, and the amount of the daily interest;
12° of the information concerning the rights resulting from Article VII.147/6 and their conditions of exercise;
13° the right to early reimbursement, the procedure to be followed and, where appropriate, information on the right of the lender to compensation and the method of determination of the lender, including the terms referred to in Article VII.147/11, § 3, in the event of a replenishment of capital;
14° the extra-judicial complaints and remedies available to the consumer, in accordance with Book XVI, including the physical address of the proceeding in which the user of payment services can address his claims including the contact details of the Directorate General Economic Inspection with the SPF Economy;
15° where applicable, other contractual terms and conditions.
The 1° to 3° and 6° to 7° apply only to mortgage credit with a mobile destination.
§ 4. The causes of pre-term or resolution of the credit contract must be repeated in the contract by a separate clause.
§ 5. When a credit contract is expressed in foreign currency, the lender ensures that:
1° the consumer has the right to convert the credit contract into another currency under specified conditions or
2° other terms are provided to limit the currency risk to which the consumer is exposed under the credit contract.
The other currency referred to in paragraph 1er, 1°, is:
1° the main currency in which the consumer receives income or holds assets on the basis of which the credit must be refunded, as indicated at the time the most recent credit rating for the credit contract was made; or
2° the currency of the Member State in which the consumer was resident at the time the credit contract was concluded or in which he currently resides.
As long as a consumer has the right to convert the credit contract into another currency, the conversion will be made at the applicable market exchange rate on the day of the conversion application, unless otherwise provided in the credit contract.
The lender regularly advises the consumer who has entered into a foreign currency credit contract on a sustainable basis and at least when the value of the remaining total amount payable by the consumer or regular payments varies by more than 20% of what it would be if the exchange rate between the currency of the credit contract and the euro applicable at the time of the conclusion of the credit contract was applied. In the warning, the consumer is informed of an increase in the amount due by the consumer, of the right, if any, to convert this amount into another currency and of the conditions to do so, as well as of any other mechanism applicable to limit the currency risk to which it is exposed.
Subsection 9. - Replenishment of capital
Art. VII.135. § 1er. Replenishment of capital is carried out by a contract under the credit contract. An assistant contract does not constitute an incidental service.
This sub-contract can only be a life insurance contract, a capitalization contract or another savings constitution.
The reconstituted capital is at any time the value of redemption or capital constituted in the case of a life insurance or capitalization contract or the capital already saved in the other cases of savings contracts.
If the replenishment occurs with the lender, in the event of legal or judicial dissolution or bankruptcy of the lender, the replenished capital shall be compensated for the reduction of the lender's debt without compensation.
If the replenishment does not work with the lender, when the credit becomes payable or refundable, the replenishing third party becomes the sole debtor of the replenished capital to the lender. In this case, the lender shall exercise the rights of the consumer to that replenishing third party.
§ 2. The replenishment shall not exceed the capital or, after a partial repayment, the capital remaining to be repaid.
§ 3. When the replenishment period exceeds that of the credit contract, the consumer has the right to require the lender to extend the credit, without compensation or any rate of interest, until the replenishment of the capital.
Where applicable, the new credit contract has passed to the consumer's expense.
§ 4. The King may set complementary rules to which the reconstruction must satisfy.
Art. VII.136. Replenished capital becomes payable when:
1° the credit is due;
2° the consumer exercises its legal or conventional right to refund the capital.
Subsection 10. - Denial of credit
Art. VII.137. In the event of a refusal to issue a credit, the lender shall communicate to the consumer without delay and without charge the result of the consultation and the identity and address of the person responsible for the processing of the files that he or she has consulted, including, where applicable, the identity and address of the credit insurer consulted, and to which the consumer may address in accordance with section VII.147/37. Where applicable, it also indicates that the refusal is based on automated data processing.
The communication referred to in paragraph 1er is not required where section 12 of the Act of 11 January 1993 on the prevention of the use of the financial system for the purposes of money laundering and the financing of terrorism or other relevant legislation affecting public order or public security prohibits it.
If the credit is refused, no compensation, of any kind, may not be claimed to the consumer except for the consultation costs of the Central Bank paid by the lender and the tax costs referred to in Article VII.141.
Section 4. - Right of withdrawal
Art. VII.138. § 1er. The consumer has the right to renounce mortgage credit with a mobile destination that does not accompany the creation of a mortgage security for a period of fourteen days, without giving cause. The period of this right of withdrawal begins to run:
1° on the day of the conclusion of the credit contract, or
2° on the day on which the consumer receives the contractual terms and conditions as well as the information referred to in Article VII.134, if that date is after the date referred to in 1° of this paragraph.
§ 2. When the consumer exercises his right of withdrawal:
1° it shall notify the lender, by registered mail or by any other support accepted by the lender in accordance with Article VII.134, § 3, 11°. The deadline shall be deemed to be met if the notification has been sent before the expiry of the notification, and
2° in the case of a credit contract for which, under this contract, goods are made available to the consumer, it shall, immediately after the notification of the withdrawal, return the goods it has received and pay to the lender the interest due for the credit withdrawal period;
3° for other credit contracts, he pays to the lender the capital and the accumulated interest on that capital from the date on which the credit was taken up until the date on which the capital is paid, without undue delay and no later than thirty calendar days after sending the notification of the revocation to the lender.
Interest due shall be calculated on the basis of the agreed rate of debt. The lender is not entitled to any other compensation paid by the consumer, except for compensation for non-recoverable expenses that the lender would have paid to a public institution. Payments that are made after the conclusion of the credit contract are refunded to the consumer within 30 days of the withdrawal.
§ 3. The withdrawal of the credit contract entails the full resolution of miscellaneous services contracts.
§ 4. If the consumer invokes the right of withdrawal referred to in this section, sections VI.58, VI.59, and VI.67 do not apply.
Section 5. - Undue clauses
Sub-section 1re. - Illegitimate payments
Art. VII.139. Whenever the payment of a price is paid, in whole or in part, using a credit contract for which the seller or service provider intervenes as a lender or credit intermediary for the conclusion of this credit contract, no undertaking may validly be contracted by the consumer with respect to the seller or service provider, nor any payment made from one to another, as long as the consumer has not signed the contract.
Any clause that the consumer undertakes, in the event of a refusal of the financing, to pay the agreed price.
Art. VII.140. Any clause in a mortgage credit with a mobile destination that authorizes the lender to claim compensation to the consumer, if the lender has not paid in whole or in part the amount of the credit awarded.
Any clause in a mortgage credit with a real estate destination that authorizes the lender to claim for a period of more than two years compensation to the consumer, where the lender has not paid in whole or in part the amount of the credit awarded. The King may determine the height and method of calculating this allowance.
Art. VII.141. § 1er. Apart from the legal costs inherent in the mortgage and what could be due under other legal or regulatory provisions, the consumer can only be charged with the expertise of the goods offered as collateral.
Expertise can only be done with the consumer's agreement. The expertise is performed by an internal or external expert accredited by the lender.
The costs of expertise are due only if the expertise has taken place. Otherwise, any advance must be refunded.
If the costs of expertise are borne by the consumer, they are communicated to the consumer beforehand. It receives without delay a copy of the report of expertise.
§ 2. Derogation from paragraph 1er, the lender may request a file charge for the mortgage credit with a real estate destination. These fees are due only after the consumer has accepted the offer of credit.
The King may determine the method of fixing the maximum fees of expertise and record and, where applicable, adapting these maxima.
Sub-section 2. - The calculation of debtor interest and the variability of the periodic rate, the debt rate, costs and contractual conditions
Art. VII.142. The calculation of the amount of debtor interest is done using the periodic rate.
Art. VII.143. § 1er. The periodic rate and interest rate are fixed or variable. If one or more fixed debtor rates have been stipulated, the debtor or fixed debtor rates apply for the period specified in the credit contract.
§ 2. Except as otherwise provided in this section as to the variability of the debtor rate and/or periodic rate, and without prejudice to the application of section VII.145, any clause to change interest rates or fees shall be deemed to be unwritten.
§ 3. If the variability of the periodic rate has been agreed, there can be only one debt rate per credit contract. The following rules apply to this periodic rate:
1° the periodic rate must fluctuate both upward and downward;
2° the periodic rate may vary only at the expiry of specified periods, which may not be less than one year;
3° the variation of the periodic rate must be related to fluctuations of a benchmark index taken from a series of benchmark indices depending on the duration of the periods of variation of the debtor rate.
The list and method of calculating the benchmarks are determined by the King, by order deliberately in the Council of Ministers, taken on the advice of the Bank and FSMA after consultation by the latter with the Commission on Insurance;
4° the initial periodic rate is the basis for the calculation of the consumer's interest in the first interest payment;
5° the initial value of the reference index is the value of the reference index on the list of interest rates for the type of credit considered and relates to the value of the calendar month prior to the date of that tariff;
6° at the expiry of the periods determined in the credit contract, the periodic rate for the new period is equal to the initial debt rate increased by the difference between the value of the benchmark index published in the calendar month prior to the date of change and the initial value of that index.
If the initial periodic rate is the result of a conditional reduction, the lender may, for the fixing of the new debtor rate, rely on a higher debtor rate if the consumer does not meet the expected conditions or conditions. The increase cannot exceed the reduction granted at the beginning of the credit, expressed as a percentage per period;
7° without prejudice to what is set out in the 8° below, the credit contract must stipulate that the change in the periodic rate is limited, both upwards and downwards, to a deviation determined from the initial debt rate, without that deviation in the case of an increase in the periodic rate may be higher than the difference in case of a decrease.
If the initial periodic rate results from a conditional reduction, the credit contract may provide that the variation referred to in paragraph 1er operates on the basis of a higher debtor rate if the or conditions fixed for the award of the reduction are no longer met. The applied increase cannot exceed the reduction at the time of taking credit, expressed as a percentage per period.
The credit contract may also provide that the periodic rate varies only if the change to the increase or decrease results from the debt rate of the previous period, a specified minimum difference;
8° if the first period has a duration of less than three years, a variation to the increase in the periodic rate may not have the effect of increasing the debt rate applicable to the second year of more than the equivalent of one point per cent per year compared to the initial debt rate, nor increase the debt rate applicable to the third year of more than the equivalent of two points per cent per year from that initial debt rate.
§ 4. In the event of a change in the periodic rate and when capital is depreciated, the amounts of periodic charges are calculated at the new rate of debt and according to the provisions of the credit contract. In the absence of such provisions, the periodic loads shall be calculated on the basis of the remaining balance and the remaining period to be incurred, according to the technical method used initially.
In the event of a change in the periodic rate and where there is no capital amortization, interest is calculated at the new rate according to the technical method used initially.
§ 5. Periods, conditions and conditions of variation in the periodic rate and the initial value of the reference index must be included in the credit contract.
A single reference index, taken from the King ' s list in accordance with paragraph 7, may be used for the calculation of the periodic rate.
The records of these indices are kept by the lender.
§ 6. Where applicable, the consumer is informed of a change in the debtor rate by amending the periodic rate, on a sustainable basis, before the change comes into force. This information also indicates, where applicable, the amount of payments to be made after the entry into force of the new periodic and debtor rates and whether the number or periodicity of payments varies. If applicable, it shall be accompanied, at no cost, by a new damping table containing the data referred to in Article VII.134, § 3, 4°, for the remaining period of time.
However, the parties may agree in the credit contract that the information referred to in the preceding paragraph is communicated periodically to the consumer, where the change in the periodic and debtor rates results from a change in a reference index, the new benchmark index is made public by appropriate means and that information relating to the new benchmark index is also available in the lender's premises.
§ 7. The King shall determine the terms and conditions for the application of this Article by order deliberately in the Council of Ministers.
Art. VII.144. Interests receivable are calculated:
1° in case of amortization, on the remaining balance due;
2° in the event of replenishment, on the capital or, after a partial repayment, on the remaining capital to be repaid;
3° in case of a single refund of the capital upon the expiration of the credit contract, on the remaining balance due.
In the case of an appropriation of credit, interest receivables are calculated on the part of the capital that has been taken.
It is prohibited to charge or charge:
1° of interest before the expiry of the period for which it is calculated;
2° interest per fraction of the periods for which they are calculated.
If the debtor interests, under the credit contract, are paid to a third party, this payment is free to the consumer to the lender.
Art. VII.145. For a mortgage credit with a real estate destination, the consumer may ask the lender to make changes to the conditions and/or security rights of the current credit contract. The lender is free to access or not to this request.
These amendments can only include:
1° a new periodic rate, the reduction or extension of the duration, the replacement of one method of reimbursement by another, the temporary suspension of the payment of capital amortizations or replenishment premiums and, without prejudice to the application of Article VII.143 and the restrictions on it, the variability of the periodic rate;
2° the total or partial deletion of the registration on mortgage real property, the replacement of a security right by another, the establishment of a supplementary security right, the renewal of a security right, the release of the consumer of these credit obligations or the addition of a new consumer.
The amendments listed in paragraph 2 may be supplemented by a Royal Decree deliberated in the Council of Ministers.
If the lender responds to this request, it provides the consumer with an offer of credit, whose content is limited to changes in the current credit contract.
Section VII.133 applies by analogy.
For changes to current credit contracts or if the consumer requests duplicates of documents already issued, the lender may charge file fees under the tariff in effect at the time of consumer demand, after the consumer has accepted the offer of credit. The lender refers to the current tariff in its offer of credit. The King may determine the method of fixing the maximum charge and, where applicable, adapting these maxima.
The lender may charge file fees if the consumer has contractually planned options provided that the credit contract provides for the imputation of these costs. The King may determine the method of setting the maximum fees and, where applicable, adapting these maxima.
Subsection 3. - Miscellaneous services
Art. VII.146. § 1er. There is, in the sense and for the purposes of this chapter, a contract annexed where the consumer enters or maintains in force an insurance contract, pursuant to a condition of the credit contract, for the purpose of financing the acquisition or retention of real property rights, the non-compliance of which could result in the requirement of the amount of credit taken.
This annexed contract cannot be:
1° that an insurance of the remaining balance or a temporary death insurance with constant capital covering the risk of death when there is no capital amortization, conventionally intended to guarantee the reimbursement of the credit;
2° that insurance covering the risk of degradation of the building offered as a guarantee;
3° only bail insurance.
§ 2. The lender is not allowed to reserve in the credit contract the right to impose an increase in the coverage during the contract.
The lender is prohibited without prejudice to the application of Article VII.147, § 1erParagraph 1er, direct or indirect oblige the consumer to subscribe the contract annexed to an insurer designated by the lender.
§ 3. Where there is an attached contract of insurance for the remaining outstanding balance or a temporary death to constant capital insurance covering the risk of death when there is no capital amortization, the insured capital is used, at the time of the death of the insured, to the reimbursement of the remaining balance owing and, where applicable, to the payment of accrued and non- accrued interest.
When the capital of such insurance is greater than the remaining balance due, the consumer may at any time reduce the amount to competition.
When insurance is limited to a quotity of credit capital, the same rules apply proportionally.
§ 4. When the contract is annexed, the following elements must be set out in a document signed by the lender and the consumer:
1° the credit to which the annexed contract relates;
2° acceptance by the lender of the insurance contract as an annexed contract;
3° the obligations assumed by the consumer under the annexed contract.
Art. VII.147. § 1er. Linked sale is prohibited. It is also prohibited for the lender and the credit agent to impose on the consumer, as part of the conclusion of a credit contract, another contract with the lender, credit intermediary or a third person designated by the lender, unless it is a consolidated sale. If the lender or, where applicable, the credit intermediary, provides for the conclusion of an incidental service or an annexed contract, it is required to accept the provider proposed by the consumer, which is different from the provider advocated by the lender, if the lender offers an equivalent incidental service or, where applicable, a contract annexed to an equal or reduced price.
If the service provider advocated by the lender or, where appropriate, through credit is proposed as part of a bundled sale, the lenders are not required to maintain the reduced price of financial products or bundled services, in case the consumer uses his or her right to appeal to the service provider of his or her choice.
The burden of proof that the consumer has had the free choice in relation to the conclusion of any incidental service contract concluded in addition to the credit contract is the lender and the credit intermediary.
§ 2. It is also prohibited for the lender and the credit intermediary to provide to the consumer, upon conclusion of a credit contract, the obligation to put the borrowed capital, in whole or in part, in pledges or to allocate it, in whole or in part, to the establishment of a deposit or to the purchase of securities or other financial instruments.
Sub-section 4. - Unauthorised guarantees
Art. VII.147/1. As part of a credit contract, it is prohibited for the consumer, or if the consumer purchases the person who constitutes a security right, to promise or to guarantee by means of a currency letter or promissory note the payment of the commitments he has contracted under a credit contract. It is also prohibited to have a cheque signed as a security right for the total or partial refund of the amount owing.
Art. VII.147/2. § 1er. Any assignment of law relating to the amounts referred to in Article 1410, § 1er, of the Judicial Code, operated under a credit contract governed by this book, is subject to the provisions of sections 27 to 35, with the exception of section 34, of the Act of 12 April 1965 on the protection of the remuneration of workers and may be executed and assigned only to amounts payable under the credit contract on the date of notification of the assignment.
§ 2. The income or remuneration of minors, even emancipated, is inceivable and elusive from the head of credit contracts.
Section 6. - The execution of the credit contract
Sub-section 1re. - Provision of credit
Art. VII.147/3. § 1er. As long as the credit contract has not been signed by all parties, no payment may be made, neither by the lender to the consumer or on behalf of the consumer, nor by the consumer to the lender, except with respect to the costs of expertise.
Unless otherwise provided in the credit contract, the lender shall make the amount of the credit immediately available by transfer to the consumer's account or to that of a third party designated by the consumer or by cheque.
Neither the amount of the credit nor the capital can be linked to an index.
The provision of the credit in cash or cash may only be made in the cases indicated by the King in a deliberate order in the Council of Ministers, taking into account the amount of the credit, type of credit, purpose and timing of the conclusion of the credit contract.
§ 2. The lender continues to respond to amounts that he has made to the credit intermediary, in accordance with the credit contract, until they are, in their entirety, made available to the consumer or a third party designated by him.
Sub-section 2. - Financing of goods and services
Art. VII.147/4. The provisions of this subsection apply to a mortgage with a mobile destination.
Art. VII.147/5. When the credit contract mentions the property or service benefit funded or the amount of the credit contract is paid directly by the lender to the seller or service provider, the obligations of the consumer only take effect from the delivery of the property or the service delivery; in the event of sale or delivery of successively executed services, they shall take effect from the beginning of delivery of the product or service delivery and cease in the event of interruption of the service, unless the consumer receives the amount of the credit himself and the identity of the seller or service provider is not known by the lender.
The amount of the credit may only be returned to the vendor or service provider after notification to the lender of the delivery of the property or service delivery.
The notification referred to in the second paragraph shall be made on a sustainable basis, including a delivery document, dated and signed by the consumer.
The interest due under the credit contract shall only take place on the date of that notification.
Art. VII.147/6. When the consumer has exercised a right of withdrawal for a contract for the supply of goods or services, it is no longer bound by a related credit contract.
Where goods or services subject to a related credit contract are not provided, are only partially provided or are not in accordance with the contract for the supply of goods or services, the consumer has the right to appeal against the lender if the consumer has made an appeal against the supplier without gain of cause as he may claim under the law or contract for the supply of goods or services.
An exception may only be invoked with respect to the lender provided that:
1° the consumer has put the seller of the property or the service provider in place by registered mail to perform the obligations arising from the contract, without having received satisfaction within one month from the date of delivery;
2° the consumer informed the lender that if the lender fails to obtain satisfaction from the seller of the property or service provider in accordance with 1°, he will make the payment of the remaining payments due to a blocked account. The King may set the terms and conditions for the opening and operation of the account.
Interests generated by the sum so deposited are capitalized.
By the sole fact of the deposit, the lender acquires a privilege on the assets of the account for any receivable resulting from the total or partial non-performance of the consumer's obligations.
It may only be disposed of the amount deposited for the benefit of either of the parties, by producing a written agreement, established after the amount has been blocked on the above account, or by a true copy of the shipment of a judicial decision. This decision is enforceable by provision notwithstanding opposition or appeal, without bail or cantonment.
Art. VII.147/7. When the remote credit contract mentions the property financed, sold remotely, or the amount of the credit or the amount taken is paid directly by the lender to the vendor remotely, the delivery of the property may take place, by derogation from Articles VII.139, paragraph 1er, and VII.147/3, before the conclusion of the credit contract and as long as the consumer has, in due time before delivery, the contractual conditions and information referred to in Article VI. 57, § 1er.
Subsection 3. - Maximum costs and reimbursement times
Art. VII.147/8. The provisions of this subsection apply to a mortgage with a mobile destination.
Art. VII.147/9. § 1er. The King determines the method of fixing and, where applicable, adapting the maximum overall actual annual rates. It sets the maximum effective annual rate according to the type, amount and possibly duration of the credit.
§ 2. Where the calculation of the overall effective annual rate requires the use of assumptions, the King may also fix in accordance with the provisions referred to in § 1erthe maximum cost of the credit, i.e. the maximum debt rate, and where applicable, the maximum recurring costs and the maximum non-recurring costs associated with the opening of credit.
§ 3. The rates established under this section remain applicable in any event until their revision.
Any reduction in the maximum overall effective annual rate and, where applicable, the maximum cost of the credit is to be applied immediately to the current credit contract that provides, within the limits of this book, the variability of the overall effective annual rate or the debtor rate.
Art. VII.147/10. § 1er. The King may fix the maximum amount of credit repayments based on the amount borrowed and the type of credit.
§ 2. Indeterminate or fixed-term credit openings of more than five years must set a zeroing period in which the total amount to be refunded must be paid. The King may set a maximum period of zeroing.
§ 3. If a credit contract, repayable by amounts of a constant term, authorizes the variability of the debtor rate, it states that in the event of an adaptation, the consumer may require the maintenance of the amount of the term, as well as the extension or reduction of the agreed refund period. The exercise of this right may lead to the exceedance of the maximum refund period referred to in § 1er .
Prior to the conclusion of the credit contract, the lender expressly informs the consumer of this right.
§ 4. At the latest two months before the expiry of the zeroing period, the lender shall notify the consumer via any useful means of communication.
Sub-section 4. - Advance payment and termination of the credit contract
Art. VII.147/11. § 1 er. The consumer has the right to repay at any time the balance of the remaining capital due in advance. In this case, it is entitled to a reduction in the total cost of credit for the consumer, which corresponds to the interest and costs due for the residual duration of the credit contract.
Unless otherwise provided in the credit contract, the consumer has the right to make a partial refund of the capital at any time. In this case, it is entitled to a reduction in the total cost of credit for the consumer, which corresponds to the interest and expenses due for the period to which the advance refund relates. The contrary provision may not exclude a partial refund once a calendar year or a refund of a minimum of 10% of the capital.
The consumer who wishes to repay, in whole or in part, anticipates his credit, advises the lender of his intention by registered mail, at least ten days before the refund.
§ 2. When a consumer wishes to comply with his or her obligations under a credit contract before the expiry of the said contract, the lender shall promptly notify the lender of the information necessary for the examination of the application on a sustainable basis. At a minimum, this information sets out the consequences for the consumer if it fulfils its obligations before the expiry of the credit contract and clearly formulates the assumptions used. These assumptions are reasonable and justifiable.
§ 3. In case of reconstruction, the consumer has, at the time of refund, the choice:
1° in the case of a total refund, to fully or partially affect the reconstituted capital or not to affect it;
2° in the case of a repayment of a fraction of the total repayment, the total or partial allocation of the same fraction of the reconstituted capital or the non-affected capital.
In addition, the consumer has the right to take into consideration the part of the contract that is no longer an assistant, to reduce the contract premiums to what is required to maintain the deputy party.
Art. VII.147/12. § 1er. The lender may provide compensation for a total or partial advance refund.
This allowance shall be calculated, at the periodic rate of the credit, on the amount of the remaining balance owing.
For the calculation, where there is an assistant contract whose redemption value is not assigned to the refund, this amount must be reduced from that redemption value.
In case of partial reimbursement, these rules are applied proportionally.
This allowance cannot exceed three months of interest.
§ 2. No compensation may be claimed by the lender:
1° if by the application of Articles VII.209 and VII.210, the consumer's obligations were reduced to the cash or amount borrowed;
2° in the case of a death-related reimbursement, pursuant to an annexed or deputy contract;
3° in case of a credit opening that constitutes a mortgage credit with a mobile destination.
§ 3. The lender can only provide for his benefit the purchase of an assistant contract if the proceeds of the sale of the real property given as a guarantee do not allow him to obtain the refund of his credit.
§ 4. Payments to the lender in capital and indemnity made under the credit contract to a third party, for an advance refund.
Art. VII.147/13. § 1er. The consumer may, at any time and without charge, terminate a mortgage credit with an undetermined mobile destination, unless the parties have agreed on a notice period. This period may not exceed one month. The consumer exercises his right to terminate by sending a registered consignment or other support accepted by the lender to the lender.
If the credit contract referred to in paragraph 1er the lender may terminate this contract by giving the consumer a notice of at least two months on a sustainable basis. When the lender exercises his right, he shall notify the consumer, by registered mail or any other support accepted by the consumer.
§ 2. If the credit contract provides, the lender may, for objectively justified reasons, in particular if the lender has information to consider that the consumer will no longer be able to meet its obligations, suspend the consumer's right to levy under a credit contract. The lender shall inform the consumer of the suspension and the reasons for the suspension on a sustainable basis, if possible before the suspension and no later than immediately thereafter, unless the communication of this information is prohibited by another legislation or is opposed to public or public safety objectives.
Subsection 5. - Account statement
Art. VII.147/14. § 1er. For each credit opening, which constitutes a mortgage credit with a mobile destination, the consumer is regularly informed, on a sustainable basis, using an account statement with the following information:
1° the specific period on which the account is recorded;
2° the amounts taken and the date of the sampling;
3° the total amount remaining due to the previous statement and the date of the preceding statement;
4° the new total amount remaining due;
5° the date and amount of payments made by the consumer;
6° the rate(s) applied;
7° the amounts distinct from all charges applied;
8° where applicable, the minimum amount to be paid and interest.
§ 2. For credit openings other than uncovered facilities, the following additional information is provided:
1° where applicable, the remaining balance due to the previous statement;
2° where applicable, the separate dates of the costs due;
3° the date and amount of interest due by applied rate of debt as well as an indication of the method of calculating these interest on the remaining balance due using the debtor rate.
Sub-section 6. - Unauthorised discovery and overtaking
Art. VII.147/15. § 1er. When a discovery occurs as part of a credit opening or a payment account, which forms a mortgage credit with a mobile destination, while the lender explicitly prohibited any discoveries exceeding the amount of the authorized credit, the lender suspends the credit levies and requires the refund of the unlicensed amount within a maximum period of forty-five days from the day of the unauthorised discovery.
In this case, only late interest and fees expressly agreed and authorized by this book may be claimed. Delay interest is calculated on the amount of unauthorised discovery.
The lender informs the consumer, without delay, on a sustainable medium:
1° of unauthorised discovery;
2° of the amount of unauthorised discovery;
3° of all penalties and any fees or interest applicable to the amount of unauthorised discovery.
§ 2. If the consumer does not comply with the obligations under the preceding paragraph, the lender terminates the contract in accordance with Article VII.147/20, § 1er, 3°, or by innovation establishes a new contract with a higher amount of credit, in accordance with all the provisions of this book.
Art. VII.147/16. When a surcharge, which forms a mortgage credit with a mobile destination, reaches at least 1,250 euros and extends for a period of more than one month, the lender informs the consumer, without delay, on a sustainable medium:
1° of overtaking;
2° the amount of the overtaking;
3° of the debtor rate, all penalties and all charges applicable to the amount of the exceedance.
The King can change that amount. As long as the information referred to in the preceding paragraph is not provided, the lender may not apply on the amount of the exceedance as the last applied debt rate, excluding any penalty, allowance or interest of delay.
If the exceedance is not cleared after a period of three months from the date of its occurrence, the lender shall suspend the credit levies and terminate the contract in accordance with Article VII.147/20, § 1er, 3°, or by innovation establishes a new contract with a higher amount of credit, in accordance with all the provisions of this book.
Section 7. - The assignment of the credit contract and the receivables resulting from this contract
Art. VII.147/17. Without prejudice to the application of sections 1250 and 1251 of the Civil Code, a mortgage credit with a mobile destination or the debt resulting from this credit contract may only be transferred to or after subrogation, be acquired only by a lender registered or registered under this book, or otherwise disposed or acquired by the Bank, the Fund for the Protection of Deposits and Financial Instruments, of Credit Insurances, of Agencies
Art. VII.147/18. Without prejudice to the provisions of Article VII.147/17, for a mortgage credit with a mobile destination, the assignment or subrogation is only enforceable to the consumer after the consumer has been informed by registered mail, except where the immediate assignment or subrogation is expressly provided for in the contract and the identity of the assignee or subrogated third party is mentioned in the credit contract. This notification is not mandatory when the initial lender, in agreement with the new debtor, continues to manage the credit contract with the consumer.
Art. VII.147/19. In the event of a transfer or subrogation for the receivable resulting from a mortgage credit with a mobile destination, the consumer retains in respect of the assignee or creditor subrogated the means of defence, including the use of compensation, that he or she may oppose the assignor or the subrogator. Any contrary clause is deemed non-written.
Section 8. - Non-performance of the credit contract
Art. VII.147/20. § 1er. Without prejudice to the application of Article VII.147/13, § 1erany clause that provides for a termination of the term or an express resolute condition shall be prohibited and deemed to be non-written unless it is stated:
1° in case the consumer fails to pay at least two amounts of a term, of a sum equivalent to 20 p.c. of the total amount due by the consumer or of the corresponding amounts for the replenishment of the capital, and would not have been executed one month after the recommended sending of a letter containing stipulation. These terms must be recalled by the lender to the consumer during the stay;
2° for the case of a mortgage credit with a mobile destination where the consumer would dispose of the furniture property financed prior to the payment of the price or make use of it contrary to the terms of the contract, while the lender would have reserved the property;
3° in the case of a mortgage credit with a mobile destination where the consumer would exceed the amount of the credit referred to in Articles VII.147/15 and VII.147/16 and would not have been executed one month after the recommended sending of a letter containing a stay;
4° in case the consumer is declared bankrupt;
5° where by its fact the consumer has reduced the mortgage security that he had given by the credit contract in the following cases:
(a) if the real property that is the subject of mortgage security is partially or totally alienated, sold, exchanged or given between livers;
(b) if the real property that is the subject of a mortgage or a mortgage promise is encumbered with a mortgage.
§ 2. The judge may, without prejudice to the sanctions of common law and the application of Article VII.134, § 4, order the resolution of the contract to the harm of the consumer in the following cases:
1° if the real property, which is encumbered with a mortgage security right, is seized by another creditor;
2° if the mortgage registration does not occupy the agreed rank with the consumer;
3° in the event of a decrease in mortgage security following a substantial decrease in the value of the real property attributable to the consumer: by a modification of the nature or destination, by a severe deterioration, by a severe pollution, by leasing below the normal rental price or by leasing for a period of more than nine years, unless the lender agrees;
4° in the case of co-ownership: modification of the basic act approved by the consumer, resulting in a decrease in the value;
5° in the event that the contract for fire insurance, remaining balance insurance or temporary death to agreed capital insurance is not annexed within three months after the passage of the authentic credit certificate;
6° if the consumer has knowingly concealed information within the meaning of Article VII.126 or gave information contrary to the truth as a result of which his creditworthiness has been miscalculated;
7° if a contractor, architect, mason or any other worker wrote the minutes referred to in section 27, 5°, of the mortgage law of 16 December 1851;
8° if the real property financed by the credit contract is not fully completed and appropriate for a rental within 24 months of the signature of the authentic act of credit or if the work is not carried out in accordance with the plans and specifications or permits issued;
9° if the credit is used for another purpose than that indicated by the consumer.
§ 3. The terms and conditions are recalled by the lender to the consumer during the stay.
Without prejudice to the application of Article VII.147/13, § 1er, any clause that provides that the lender may at any time in the course of a contract, require the refund of the amount of the levy is prohibited and deemed to be unwritten. The pre-term or resolution clauses of the credit contract cannot result from a lender's fact.
Art. VII.147/21. In the event of a failure to pay an amount due, the lender sends to the consumer, within three months of the due date, a warning resuming the consequences of non-payment.
In the event of failure to comply with this obligation, the contractual increase in interest rates for late payment referred to in sections VII.147/22 and VII.147/23 cannot be applied on the said maturity; In addition, for this period, a payment period of six months without additional costs or interest must be granted; this period takes place on the day of the unpaid maturity.
Art. VII. 147/22. § 1er. In the event of a resolution of a mortgage credit with a mobile destination or termination of the term in this credit contract, due to the non-performance of its obligations by the consumer, no payment other than those indicated below may be claimed from the consumer:
- the remaining balance due;
- the amount, fallen and unpaid, of the total cost of credit for the consumer;
- the amount of the agreed delayed interest calculated on the remaining balance due;
- the agreed penalties or allowances, provided that they are calculated on the remaining balance owing and limited to the following limits:
- not more than 10% calculated on the remaining balance of up to 7,500 euros;
- not more than 5% calculated on the remaining balance of more than Euro 7,500.
§ 2. In the event of a mere delay in paying a mortgage with a mobile destination, which does not result in the resolution of the contract or the termination of the term, no payment other than those indicated below may be claimed from the consumer:
- the fallen and unpaid capital;
- the amount, fallen and unpaid, of the total cost of credit for the consumer;
- the amount of the agreed delayed interest calculated on the fallen and unpaid capital;
- the agreed costs of the reminder letters and the restraining letters, up to one consignment per month. These fees consist of a maximum lump sum of EUR 7.50 plus postal charges in effect at the time of shipment. The King can adapt this lump sum according to the Consumer Price Index.
When the credit contract is terminated, in accordance with Article VII.147/13, § 1er, or has come to an end and that the consumer has not performed three months after the recommended sending of a letter containing stipulation, no payment other than those indicated below may be claimed from the consumer:
- the fallen and unpaid capital;
- the amount, fallen and unpaid, of the total cost of credit for the consumer;
- the amount of the agreed delayed interest calculated on the fallen and unpaid capital;
- the penalties or allowances agreed within the limits and limits referred to in § 1er.
§ 3. The delayed interest rate agreed on for a mortgage credit with a mobile destination may not be higher than the debt rate recently applied to the relevant amount or to the partial periods concerned, plus a maximum coefficient of 10 p.c.
§ 4. Any payment claimed under §§ 1 and 2 shall be detailed and justified in a document given to the consumer free of charge.
A new document detailing and justifying the amounts due under §§ 1 and 2 must be delivered free of charge, not more than three times a year, to the consumer who makes the request.
The King may determine the references to this document and impose a counting model.
§ 5. By derogation from Article 1254 of the Civil Code, in the event of a resolution or termination of the term of the credit contract referred to in Article VII.138, § 1er, by the consumer, any payment made by the consumer or the person who constitutes a security right, may not be imputed on the amount of late interest or other penalties and damages only after the refund of the remaining balance due and the total cost of the credit to the consumer.
§ 6. Any clause, in the event of non-performance of its obligations by the consumer, shall be prohibited and deemed not in writing, to include penalties or damages not provided for in this book.
Art. VII. 147/23. § 1er. In the event of a resolution of the mortgage credit with a real estate destination or a termination of the term in this credit contract, due to the non-performance of its obligations by the consumer, no payment other than those indicated below may be claimed from the consumer:
- the remaining balance due;
- the interests of delay that have become payable in accordance with § 2;
- interest and costs accrued and unpaid that have become payable in accordance with § 2;
- a maximum compensation equal to the employment allowance referred to in Article VII.147/12, § 1ercalculated on the remaining balance due.
§ 2. In the event of a mere delay in payment of a mortgage contract with a mobile destination, which does not result in the resolution of the contract or the termination of the term, no payment other than those indicated below may be claimed from the consumer:
1° the fallen and unpaid capital;
2° the costs and interests accrued and unpaid;
3° the default interest up to 0.5% on an annual basis calculated as follows:
(a) in the event of non-payment of interest on maturity: the remaining balance due at the time of payment delay multiplied by the periodic rate that corresponds to the debt rate of 0.5%;
(b) on unpaid capital a late interest may be calculated pro rata temporis at the periodic credit rate, plus a periodic rate that corresponds to the debt rate of 0.5%. These late interest then begins to run from the date of payment delay to the actual refund;
4° the agreed costs of recall and restraining letters, up to one consignment per month. These fees consist of a maximum lump sum of 7.50 euros plus postal charges in effect at the time of shipment. The King can adapt this lump sum according to the Consumer Price Index.
§ 3. Any payment claimed under §§ 1er and 2 must be detailed and justified in a document delivered free of charge to the consumer.
A new document detailing and justifying the amounts due under §§ 1er and 2 must be given free of charge, not more than three times a year, to the consumer who makes the request.
The King may determine the references to this document and impose a counting model.
§ 4. Any clause, in the event of non-performance of its obligations by the consumer, shall be prohibited and deemed not in writing, to include penalties or damages not provided for in this book.
Section 9. - Payment facilities
Art. VII.147/24. Any execution or seizure to which it is carried out under a judgment or other authentic act is preceded, within the framework of this chapter, barely nullity, of an attempt to conciliation before the judge of the seizures, which must be taken on the hearing sheet.
Any request for ease of payment by the consumer, bail and, where applicable, the person who constitutes a personal security right shall be addressed to the judge of the seizures, unless that request relates to a credit contract referred to in Article VII.138, § 1erin which case Article VII.107 will apply.
Sections 732 and 733 of the Judicial Code are applicable.
By derogation from sections 2032, 4°, and 2039 of the Civil Code, bail and, if applicable, any person who constitutes a personal security right must respect the payment facilities granted by the consumer court.
Art. VII.147/25. § 1er. When the consumer has already paid sums equal to at least 40% of the price in the case of a property subject to it, either of a reservation of ownership or of a pledge of pledge with an irrevocable mandate, this property can be resumed only by virtue of a judicial decision or a written agreement concluded after being issued by registered mail.
The lender must, within thirty days of the date of sale of the funded property, notify the price obtained from the consumer and return the overpayment.
§ 2. In no case, a warrant or agreement entered into for the recovery of a property financed by a credit contract cannot result in unjustified enrichment.
Section 10. - Security rights
Art. VII.147/26. § 1er. Bail and, where applicable, any other form of security granted by third-party consumers of the obligations arising from a credit contract specify the amount that is guaranteed. The security rights claimed are only valid for those amounts that may be increased by late interest, excluding any other penalty or non-performance costs. The lender must, in advance and free of charge, give a copy of the loan contract to the security deposit and, where applicable, to the person who constitutes a security right.
§ 2. Each security contract for which the person who constitutes the security right is registered in accordance with Article VII.148, § 2, 1°, states:
1° the clause: "The credit contract for which you have constituted this security is the subject of a registration at the Central Credits to the Individuals where, in accordance with Article VII.148, § 2, 1°, you are registered as a security person";
2° the finalities of treatment in the Central;
3° the name of the Central;
4° the existence of a right of access, rectification and deletion of data as well as the retention times of data.
§ 3. The lender shall inform any person who constitutes a security right, the conclusion of the credit contract, and, in advance, any modification of the contract.
For credit contracts concluded for an indefinite period, bail or personal security may only be claimed by the lender for a period of five years. This period can only be renewed through the express agreement, at the end of the period, of the bond or of the person who constitutes a personal security.
Art. VII.147/27. The lender shall communicate to the bail and, where applicable, to the person who constitutes a security right, the delay in payment by the consumer of two maturity dates or at least one fifth of the total amount to be refunded. It communicates to it the payment facilities granted and informs it in advance of any changes to the original credit contract.
Art. VII.147/28. By derogation from section 2021 of the Civil Code, the lender may not act against the bond and, where applicable, against the person who constitutes a security right, unless the consumer is in default of payment of at least two maturity or an amount equivalent to 20 p.c. of the total amount to be refunded or the last maturity, and if after placing the consumer on a registered shipment, the consumer has not executed within a recommended period of time.
Section 11. - Rules of conduct for the provision of credit to consumers through credit intermediaries and payment of commissions and allowances to credit intermediaries and staff
Art. VII.147/29. § 1er. The credit intermediary may not apply for credit to a consumer if, in the light of the information available to the consumer or should be disposed of, in particular on the basis of the information referred to in Article VII.126, the consumer is clearly unable to meet the obligations arising from the credit contract.
§ 2. The credit intermediary cannot split credit requests. It shall provide the lender with the necessary information referred to in Article VII. 69.
§ 3. Anyone who acts as a credit intermediary shall communicate to all solicited lenders the amount of other credit contracts that he has requested or received for the benefit of the same consumer, in the two months preceding the introduction of each new credit application.
§ 4. The credit intermediary can only intervene for credit contracts with registered or registered lenders.
The credit broker can only practice his business under his own name.
Art. VII.147/30. § 1er. The credit intermediary may not receive, directly or indirectly, any remuneration, in any form, from the consumer who requested his intervention.
§ 2. The credit intermediary has the right to receive a commission only if the credit contract for which it intervenes, has been concluded validly and regularly with respect to the form.
§ 3. The payment of the commission to credit intermediaries and staff members shall be made up to at least half, according to the rules established by the King, depending on the nature of the credit and its duration. The manner in which lenders pay their staff and credit intermediaries, as well as the way in which credit intermediaries pay their staff and sub-agents, does not affect the obligation under Article VII.130, paragraph 1er.
§ 4. When a credit contract is entered into for the full and anticipated reimbursement of a prior credit contract, no commission is due if the same credit intermediary intervened for both contracts.
This provision is not applicable in the event of a significant decrease in the overall effective annual rate of the new credit contract compared to the previous credit contract.
§ 5. The lenders comply, as part of the development and application of their staff compensation policy responsible for the assessment of creditworthiness, with the principles set out below in the manner and to the extent necessary given their size, internal organization and the nature, scope and complexity of their activities:
1° the compensation policy allows and promotes sound and effective risk management and does not encourage risk taking beyond the lender's tolerated risk level;
2° the compensation policy is consistent with the lender's business strategy, objectives, values and long-term interests, and includes measures to avoid conflicts of interest, including ensuring that remuneration does not depend on the number or proportion of applications accepted.
§ 6. When lenders or credit intermediaries provide advisory services, the remuneration structure of the staff concerned does not prejudice its ability to best serve the interests of the consumer and, in particular, does not depend on the sales objectives.
Section 12. - Debt mediation
Art. VII. 147/31. Debt mediation is prohibited except:
1° if practised by a lawyer, a departmental officer or a legal agent in the exercise of his profession or his or her function;
2° if it is practised by public institutions or by private institutions accredited to this effect by the competent authority.
Section 13. - Processing of personal data
Sub-section 1re- The transmission of personal data
Art. VII.147/32. Except in the case of assignment or subrogation in accordance with Articles VII.147/17 and VII.147/18, the personal data of the consumer or of the person who constitutes a security processed in the context of the conclusion or performance of a credit contract by the lender may not be transmitted to a third party other than the cumulative conditions listed in this section.
Art. VII. 147/33. § 1er. Personal data can only be processed as part of the following double purpose:
1° to assess the financial situation and assess the solvency of the consumer or the person who constitutes a security right;
2° in the context of the granting or management of the credits or payment services referred to in this book which may encumber the private heritage of a natural person and whose execution may be pursued on the private heritage of that person.
In no case may personal data be used for commercial prospecting purposes.
§ 2. The data collected must be relevant, appropriate and not excessive in view of the purposes listed in the preceding paragraph.
Art. VII. 147/34. § 1er. Only data relating to the identity of the consumer or the person who constitutes a security, the amount and duration of the credits, the periodicity of the payments, the ease of payment, the delays in payment, and the identity of the lender may be processed, with the exception of any other data. This last data is only communicated to the controller and to the consumer exclusively, except for delays in payment.
The King may, by order deliberately in the Council of Ministers, determine the content of the data referred to in the preceding paragraph.
§ 2. Derogation from the provisions of paragraph 1erParagraph 1er, the King may, by order deliberately in the Council of Ministers:
1° to determine the categories of criminal convictions against the consumer or the person who constitutes a security right, which may be treated provided that the consumer or the person who constitutes a security right has been informed in advance and in writing;
2° designate natural or legal persons of public or private law authorized to process the data referred to in 1°;
3° fix the special conditions and the modalities for this treatment.
Art. VII.147/35. § 1er. Personal data can only be provided to the following persons:
1° registered or registered lenders;
2° persons who are authorized by the King to carry out credit insurance transactions pursuant to the Act of 9 July 1975 on the control of insurance companies;
3° the FMSA and the Bank as part of their missions;
4° payment service providers, to the extent that they communicate, on the basis of reciprocity rules, their data relating to payment services;
5° associations of persons or institutions referred to in 1°, 2°, and 4°, of this paragraph, approved for this purpose by the Minister or his delegate under the following conditions:
(a) have civil personality;
(b) be trained for purposes excluding any lucre purpose and being incorporated only for the purpose of protecting the professional interests of its members;
(c) be composed of members who have not incurred administrative or criminal sanctions.
The Minister or his delegate shall decide on the application for approval within two months of the day on which all required documents and data are received.
If the request is not accompanied by all required documents and data, the applicant shall be notified within fifteen days of receipt of the request. In the absence of such notice within this period, the application is considered complete and fair.
The refusal of approval is motivated and is communicated to the applicant by registered mail.
The Minister may suspend or withdraw the approval to persons who no longer meet the above-mentioned conditions or fail to comply with the commitments made in their application for approval;
6o a lawyer, a departmental officer or a court officer, in the exercise of his or her mandate or function, and in the performance of a credit contract;
7° the debt mediator in the exercise of his mission as part of a collective debt settlement, referred to in articles 1675/2 to 1675/19 of the Judicial Code;
8° the agents of the SPF Economy competent to act within the framework of Book XV;
9° persons who exercise a friendly debt collection activity of the consumer and who, for this purpose, in accordance with Article 4 § 1er, of the Act of 20 December 2002 on the amicable recovery of consumer debts, are registered with the SPF Economy;
10° the Commission for the Protection of Privacy as part of its mission;
11° the mobilization bodies within the meaning of Article 2 of the Act of 3 August 2012 on various measures to facilitate the mobilization of claims in the financial sector.
§ 2. Once received, the data can only be communicated to persons referred to in paragraph 1er.
§ 3. Requests for information addressed to the controller and emanating from the persons referred to in this section, with the exception of the MSDS, the Bank, the agents referred to in paragraph 1er, 8°, and the Commission for the Protection of Privacy, must individualize the consumers on whom the requests are made, by their name, first name and date of birth; these requests may be consolidated.
Sub-section 2. - Data processing
Art. VII.147/36. § 1er. The data is erased when their retention in the file stopped justifying. The King may set a time limit for data retention or data categories.
Individuals who have received personal data in the context of the conclusion or management of credit contracts may only have the time required for the conclusion and execution of credit contracts, taking into account, inter alia, the deadlines set by the King under this paragraph for the retention of data.
§ 2. The controller is required to take all measures to ensure the perfect retention of personal data.
Individuals who have been provided with personal data are required to take measures to ensure the confidentiality of such data and the use for the purposes provided for by or under this book, or for the application of their legal obligations.
§ 3. The processing officer is specifically responsible for the supervision or automated exchange of personal data and must, in particular, ensure that automated processing or exchange programs are exclusively designed and used in accordance with this book and its enforcement orders.
The King may set the rules under which the person responsible for processing must carry out his or her mission.
Art. VII. 147/37. § 1er. When a consumer or a person who constitutes a security right is first registered in a file due to defaults in respect of credit contracts within the meaning of this book, the consumer is immediately informed, directly or indirectly, by the controller.
§ 2. This information should include:
1° the identity and address of the controller. When the representative is not permanently established in the territory of the European Union, he must designate a representative established in Belgian territory, without prejudice to actions that could be brought against the person responsible for the treatment himself;
2° the address of the Commission on Protection of Privacy;
3° the identity and address of the person who communicated the data;
4° the right to access the file, the right to rectify the erroneous data and the right to delete the data, the procedure for exercising the said rights, and the time limit for the retention of the data, if any;
5° the ends of the treatment.
Art. VII. 147/38. § 1er. With respect to the data recorded in a file concerning its person or heritage, any consumer or person who constitutes a security right may exercise the rights referred to in sections 10 and 12 of the Privacy Act of 8 December 1992 in respect of personal data processing.
§ 2. The consumer and the person who constitutes a security right may freely and without charge, subject to the conditions determined by the King, have the wrong data corrected. In this case, the person responsible for processing is required to disclose this correction to persons who have obtained information from the person and that the person registered indicates.
§ 3. When the file handles payment defaults, the consumer may require that the reason for the default that it communicates be indicated at the same time as the default.
§ 4. The King may determine the terms and conditions for the exercise of the rights referred to in this section. "
CHAPTER 6. - Amendments to Book VII, Title 4, Chapter 3, of the Economic Law Code
Art. 25. In article VII.149 of the same Code, inserted by the law of 19 April 2014, the first sentence of paragraph 1er is replaced by the following:
"Art. VII.149. § 1er. In order to obtain information on the financial situation and creditworthiness of both the consumer and the person who constitutes a personal security, lenders consult with the Central before the conclusion of a credit contract, with the exception of an overtaking, or the delivery of the credit offer referred to in Articles VII.127, § 3, and VII.133. »
Art. 26. In Article VII.153 of the same Code, inserted by the Act of 19 April 2014 and amended by the Act of 26 October 2015, the following amendments are made:
1° in paragraph 1er, 1°, the words "in Article VII. 119, § 1er, 1° to 3°, 6° to 8° and 10° are replaced by the words « to Articles VII. 119, § 1er1° to 3°, 6° to 8°, 10° and 11°, and VII.147/35, 1° to 3°, 6° to 8°, 10° and 11°";
2° in paragraph 2, paragraph 3, the words "This consolidated response can only relate to the number of credit contracts and the sum of the credit amounts recorded. "This consolidated response can only relate to the number of credit contracts, the sum of the credit amounts registered and, in the event of a refusal of the credit under Article VII.77, § 2, paragraph 2, the mention that the refusal is based on the application of this provision. "
CHAPTER 7. - Amendments to Book VII, Title 4, Chapter 4, of the Economic Law Code
Art. 27. Article VII.159, § 3, of the same Code, inserted by the law of 19 April 2014 and amended by the law of 26 October 2015, paragraph 1er is replaced by the following:
"In the event of assignment of receivables arising from a mortgage credit with a real estate destination subject to this book, the assignee is also subject to the provisions of this chapter and Articles VII.123 to VII.125 and VII.147/21. "
Art. 28. In Article VII.160, § 6, paragraph 2, of the same Code, inserted by the law of 19 April 2014, the words "by registered letter to the post" are replaced by the words "by registered mail".
Art. 29. In article VII.174, § 6, last paragraph, of the same Code, inserted by the law of 19 April 2014, the words "by registered letter to the post" are replaced by the words "by registered mail".
CHAPTER 8. - Amendments to Book VII, Title 5, Chapter 1erthe Economic Law Code
Art. 30. In article VII.191, of the same Code, inserted by the law of April 19, 2014, the words "by registered letter mailed and motivated" are replaced by the words "by reasoned letter in registered mail".
Art. 31. In article VII.192, 2°, of the same Code, inserted by the law of 19 April 2014, the words "by registered letter mailed and motivated" are replaced by the words "by reasoned letter in registered mail".
CHAPTER 9. - Amendments to Book VII, Title 5, Chapter 3, of the Economic Law Code
Art. 32. Chapter 3, Title 5, of the Economic Law Code, inserted by the Act of 19 April 2014 and amended by the Act of 26 October 2015, is replaced by the following provisions:
"Chapter 3. - Mortgage credit
Art.VII.209. § 1er. Where the lender has not complied with the obligations or prohibitions referred to in Articles VII.126, VII.127, VII.129, VII.133 and VII.147, the formalities referred to in Article VII.132 or the records referred to in Article VII.134, the judge may:
1° without prejudice to the sanctions of common law, for a mortgage with a mobile destination, declare the contract null or reduce the obligations of the consumer to the amount of the credit taken and raise the consumer of all or part of the late interests. In the latter case, the consumer retains the benefit of the payment schedule;
2° for a mortgage credit with a real estate destination, condemn the lender to the single payment of damages of up to 40 p.c. of all interest in the credit when the amount of the credit is less than or equal to 20,000 euros, of up to 30 p.c. of all interest in the credit when the amount of the credit taken is greater than 20,000 euros.
§ 2. When the credit intermediary failed to comply with the obligations referred to in Articles VII.126, § 1erParagraph 1er, VII.127, VII.129, VII.130 or VII.147/29, § 4, the judge may impose a penalty equivalent to that referred to in paragraph 1er.
Art. VII.210. The obligations of the consumer are fully reduced to the amount of the credit taken when:
1° the lender has made a credit contract at a higher rate than that fixed by the King under Article VII.147/9;
2° the lender did not comply with or breach the provisions of Article VII.147/29, §§ 1er to 3;
3° the assignment of the contract or the assignment or subrogation of rights arising out of a credit contract took place in disregard of the conditions laid down in article VII.147/17;
4° a credit contract was concluded:
(a) by an unregistered or unregistered lender in accordance with the legal or regulatory provisions applicable at the time of the grant of the credit;
(b) by a lender who had previously renounced the registration or approval;
(c) through an unregistered credit intermediary in accordance with the legal or regulatory provisions applicable at the time of the granting of the credit;
(d) by a lender whose approval or registration had been previously terminated, revoked or suspended or who had incurred a prohibition under section XV.67/3;
(e) through a credit intermediary whose registration had been previously terminated or suspended or that had incurred a prohibition under section XV.68.
In these cases the consumer retains the benefit of the payment schedule.
4th of paragraph 1er is not applicable where:
1° the lender concerned is a credit institution, an electronic currency institution, or a payment institution under the right of another EEA Member State, or a financial institution referred to in Article 332 of the Act of 25 April 2014, which is authorized under its national right to grant consumer credit contracts in its Member State of origin, and which exercises its activities in Belgium through the establishment of a branch imposed
2° the credit intermediary concerned is a mortgage credit intermediary referred to in Article VII.183, § 2, without the formalities imposed by the applicable European directives being complied with.
Art. VII.211. The consumer may require the refund of the amounts he paid, increased by the amount of legal interests, when a payment took place despite the prohibition under Articles VII.137, VII.140 and VII.141, VII.147/3 in VII.147/30, § 1er, or took place as part of a debt mediation operation prohibited in Article VII. 147/31.
Art. VII.212. Where, despite the prohibition referred to in Article VII.147/3, § 1erParagraph 1er, the lender or credit intermediary pays an amount, the consumer is not required to return the amount paid, to pay the service or the property delivered or to return it.
Art. VII.213. Where penalties or damages not provided for in this book are claimed to the consumer or to the person who constitutes a security right, the consumer is fully relieved of the security right.
In addition, if the judge considers that the penalties or damages agreed to or applied, including in the form of a criminal clause, in the event of non-performance of the agreement, are excessive or unjustified, the judge may, ex officio, reduce or fully raise the consumer.
Art. VII.214. In case of non-compliance with the provisions of articles VII.143, paragraphs 2 to 4, VII.147/14 and VII. 147/22, § 4, the consumer is relieved of interest and expenses relating to the period on which the offence is committed.
Art. VII.214/1. When, as a result of non-observance of Article VII.134, § 3, 5°:
1° it is not possible to determine the amounts of depreciation or replenishment payments, the consumer is not required to make such payments;
2° it is not possible to determine the times and conditions under which periodic charges, interest or reconstitutive payments are due, the consumer is only required to pay them on the anniversary dates of the credit.
Art. VII.214/2. The consumer is relieved of interest for the portion of the payments made prior to the delivery of the property or the delivery of the service, in violation of section VII.147/5, paragraph 1er and 4.
Art. VII.214/3. Failure to comply with the provisions of Article VII.139, paragraph 1er, grants the consumer the right to request the cancellation of the contract of sale or service benefit and to require the seller or service provider to refund the payments that he has already made.
Art. VII.214/4. Where the consumer has failed to disclose the information referred to in Article VII.126 or has provided false information, the judge may, without prejudice to the sanctions of common law, order the resolution of the contract to the consumer's wrongs.
Art. VII.214/5. Whoever, in violation of Article VII.147/1, signs a letter of exchange or promissory note or accepts a cheque in payment or as a guarantee of the total or partial refund of the amount of the money, is required to reimburse the consumer the total cost of the credit for the consumer.
Art. VII.214/6. A person who constitutes a security right shall be discharged from any obligation if the person has not previously received a copy of the credit contract in accordance with Article VII.147/26.
Art. VII.214/7. The resumption of tangible property in contravention of the provisions of Article VII.147/25 entails the resolution of the credit contract. The lender is required to repay all of the outstanding amounts paid within 30 days.
Art. VII.214/8. No commission is due when the credit contract is resolved, terminated or terminated and the credit intermediary has not complied with the provisions of Article VII. 147/30.
Art. VII.214/9. Are null in full right:
1st the addition or attachment of a contract other than that referred to in Article VII.146;
(2) any clause contrary to articles VII.147 and VII.147/1.
Art. VII.214/10. § 1er. Without prejudice to the application of the preceding provisions of this chapter, if the lender or credit intermediary does not comply with the obligations or prohibitions contained in Part 4, Chapter 2, or in its enforcement orders, the consumer may reimburse the credit at any time and without any compensation to the consumer. If the consumer makes use of this right and it is not possible to determine the debtor rate or the periodic rate because the constituent instrument does not indicate the necessary elements, the accrued interest is calculated at the legal rate.
§ 2. The right referred to in paragraph 1er does not prejudice the other rights and remedies that the consumer can claim. "
CHAPTER 10. - Amendments to Book VII, Title 7, of the Economic Law Code
Art. 33. In Article VII.217 of the same Code, inserted by the Act of 19 April 2014, the words "VI.101 and VII.114, § 3 of this book" are replaced by the words "VI.101, VII.114, § 3, VII.124, VII.147/9, VII.147/10 and VII.147/30, § 3, of this book".
Art. 34. Article VII.218, paragraph 1er, of the same Code, inserted by the Act of 19 April 2014, the words "VI.120 and VII.122" are replaced by the words "VI.120, VII.122, VII.147/34, VII.147/36 and VII.147/38".
Art. 35. In Article VII.219 of the same Code, inserted by the Act of 19 April 2014, the words "VI.120 and VII.122" are replaced by the words "VI.120, VII.122, VII.124, VII.147/9, VII.147/10, VII.147/36 and VII.147/38".
CHAPTER 11. - Other amendments
Art. 36. In article VI.66 of the same Code, inserted by the Act of 21 December 2013, the 4th is replaced by the following:
"4° credit contracts subject to Book VII of this Code. "
Art. 37. In Book VII of the same Code, an Annex 3 is inserted which is annexed to this Act.
Art. 38. In section XV.87 of the same Code, inserted by the Act of 19 April 2014, the following amendments are made:
1° to 2° the words "articles VII.64 to VII.66" are replaced by the words "articles VII.64 to VII.66 and VII.123 to VII.124";
2° the 3° is replaced by the following:
"3° of Article VII.125. "
Art. 39. In Article XV.90 of the same Code, inserted by the Act of 19 April 2014, the following amendments are made:
1° to 1°, the words "of Article VII.95, §§ 1er2 or 3 are replaced by the words "of Article VII.95, §§ 1er, 2 or 3 or Article VII.147/10, §§ 1er2 or 3";
2° to 3°, the words "by Article VII.94" are replaced by the words "by Articles VII.94 and VII.147/9";
3° the 4° is replaced by the following:
"4° use one of the abusive clauses referred to in Articles VII. 84 to VII 88, VII. 105, VII.139, VII.140, VII.144 and VII.147/20 or contrary to articles VII.108 or VII.147/25; »;
4° to 5°, the words "of a consumer credit contract" are replaced by the words "of a credit contract";
5° to 6°, the words "in Article VII.89, § 1er," are replaced by the words "in Articles VII.89, § 1er and 147/2, § 1er »;
6° to 8°, the words "by Article VII.115" are replaced by the words "by Articles VII.115 and 147/31";
7° to 10°, the words "of Article VII.112, § 1er are replaced by the words "Articles VII.112, § 1er and VII.147/29, § 4, paragraph 1er, »
8° to 11°, the words "of Article VII.69" are replaced by the words "articles VII.69 and VII.126, § 1er »;
9° to 14°, the words "in articles VII. 99, §§ 1er and 2 and VII. 106, § 4) are replaced by the words “articles VII.99, VII.106, § 4, VII.147/14 and VII.147/22, § 4”;
10° to 15°, the words "Articles VII.78, VII.81 and VII.109, § 2" are replaced by the words "Articles VII.78, VII.81, VII.109, § 2, VII.126, § 2 and VII.134";
11° to 16°, the words "of Article VII.77, § 2, paragraph 1er," are replaced by the words "Articles VII. 77, § 2, paragraph 1er and VII.133, § 2, paragraph 1er »;
12th to 17th, the words “articles VII.117 to VII.122” are replaced by the words “articles VII.117 to VII.122 and VII.147/33 to VII.147/38”;
13° the 18° is replaced by the following:
"18° contravene articles VII.137, VII.138, VII.143, VII.146, VII.147 and 147/26, § 1er; »
14° the 19° is replaced by the following:
"19° as a lender or credit intermediary does not provide the consumer with the SIS referred to in Articles VII.127 and VII.128, or knowingly, in contravention of Articles VII.129 and VII.130, does not provide the best-adapted information or do not seek the best-adapted credit. "
CHAPTER 12. - Abrogatory provision
Art. 40. The Royal Decree of 5 February 1993 on various enforcement provisions of the Act of 4 August 1992 relating to mortgage credit is repealed.
CHAPTER 13. - Transitional provisions
Art. 41. § 1er. This Act applies to credit contracts whose credit has been applied to the lender from 1er December 2016 using the forms referred to in Article VII.126, § 2, of the Economic Law Code, as set out in Article 24 of this Act.
This Act will also apply to credit contracts entered into from 1er March 2017 if requested before 1er December 2016. In this case, credit contracts can only be validly concluded after the consumer has first received adequate explanations, the SIS and, where applicable, an offer of credit within the meaning of this Act and within the time limits it provides.
§ 2. Articles VII.147/18 to VII.147/20, VII.147/26, § 1er, first and second sentence, VII.147/27, VII.147/31 and VII.147/33, § 1er, the last paragraph of the Economic Law Code, as set out in section 24 of this Act, the civil penalty provided for in breach of section VII.147/31 in section VII.211, inserted in the Economic Law Code by section 32 of this Act and the corresponding criminal penalties, inserted in section 39 of this Act, apply to existing credit contracts from 1er March 2017.
§ 3. Sections VII.147/2, VII.147/22, VII.147/23 and VII.147/28 of the Economic Law Code, as set out in section 24 of this Act, also apply to receivables arising out of credit contracts entered into prior to their entry into force of this Act, where the following conditions occur after 1er March 2017:
1° either the resolution of the contract or the termination of the term;
2° is a simple delay in payment.
For the purposes of Article VII.147/2 of the above-mentioned Code, the clause in the credit contract that authorizes the assignment of remuneration is a separate act within the meaning of Article 27 of the Act of 12 April 1965 concerning the protection of workers' remuneration. The notification letter, referred to in section 28, 1 of this Act, reproduces sections 28 to 32 of the Act.
§ 4. No later than three years after the publication of this Act to the Belgian Monitor, the parties are required to adapt the outstanding long-term credit contracts and personal security contracts under this Act.
Before the expiry of this period, the consumer and, where appropriate, the person who constitutes a personal security right are informed of the amendments to the contract resulting from this Act. The proof of this information lies with the lender. However, when adaptations also alter the contractual obligations of the consumer, this information is done in the form of a creditor. This product is deemed to be accepted by the consumer after one month of delivery.
The provisions of the current credit contracts which are, for imperative or public reasons, contrary to the above-mentioned articles shall be brought to full effect the provisions authorized by these articles.
§ 5. At the latest three years after the publication of this Act to the Belgian Monitor, the lender shall submit, in accordance with Articles VII.160, § 5, paragraphs 2 and VII.174, § 3, paragraph 3, of the Economic Law Code, the models of credit contracts adapted to this Act for approval to the SPF Economie.
§ 6. The provisions relating to the mentions in the security contract referred to in Article VII.147/26, § 2 of the Economic Law Code, as set out in Article 24 of this Law, are only required for new contracts concluded from the date to be determined by the King in a deliberate order in Council of Ministers after notice of the Central Support Committee of credits to individuals.
§ 7. Offences to the provisions of this article shall be sought, recognized and punished in accordance with the provisions of Book XV of the Economic Law Code.
§ 8. The King may extend the dates set out in these transitional provisions for a maximum of one year.
CHAPTER 14. - Jurisdiction
Art. 42. Existing laws and enforcement orders referring to the provisions referred to in sections 24, 32 and 40 are presumed to refer to the equivalent provisions of the Economic Law Code, as set out in this Act.
Art. 43. The King may replace references in existing laws or decrees to the provisions referred to in Articles 24, 32 and 40 with references to the equivalent provisions of the Economic Law Code, as set out in this Act.
Art. 44. The King may coordinate the provisions of the Economic Law Code, as set out in this Act, with the provisions that would have expressly or implicitly amended them at the time the coordination is established.
To this end:
1° amend the order, numbering and, in general, the presentation of the provisions to be coordinated;
2° amend the references contained in the provisions to be coordinated with a view to aligning them with the new numbering;
3° amend the drafting of the provisions to be coordinated in order to ensure their consistency and to unify the terminology without prejudice to the principles set out in these provisions.
CHAPTER 15.- Entry into force
Art. 45. This Act comes into force on 1er December 2016.
Promulgate this law, order that it be clothed with the seal of the State and published by the Belgian Monitor.
Given in Brussels on 22 April 2016.
PHILIPPE
By the King:
Minister of Economy and Consumers,
K. PEETERS
The Minister of Finance,
J. VAN OVERTVELDT
The Minister of Justice,
K. GEENS
Minister of Average Class,
W. BORSUS
Seal of the state seal:
Minister of Justice,
K. GEENS
____
Note
(1) House of Representatives:
(www.lachambre.be)
Documents: 54-1685 - 2015/2016
Full report: 13-14 April 2016.

Annex
Annex 3 to Book VII of the Economic Law Code.
European Standardized Information Sheet (ESIS) - Article VII.127
PART A
The text of the model below will be reproduced as in EIS. The brackets should be replaced by the corresponding information. The lender or, where applicable, the credit intermediary will find in part B the instructions on how to complete the SIS.
The reference "if applicable" means that the lender must provide the required information if it is relevant to the credit contract. When the information is not relevant, the lender must delete the section or the entire section in question (e.g. if the section is not applicable). If the entire section is removed, the other sections of the SIS will need to be renumbered accordingly.
The information below will be provided in the form of a single document. The police must be clearly legible. Fat or larger characters or a different background should be used for the information to be highlighted. All applicable warnings must be highlighted.
ESIS model

PART B
Instructions to Complete EIS
EIS is completed by following at least the following instructions. However, Member States may develop or specify the instructions to complete the SIS.
Section "Introduction"
The validity date is properly highlighted. For the purposes of this section, "validity date" means the period during which the information, for example the debt rate, in the SIS will not be changed and will apply if the lender decides to grant the credit during that period.
Section 1. Loaner
1. The name, telephone number and lender's geographic address are the coordinates that the consumer can use for any future correspondence.
2. Information on the e-mail address, fax number, web address and contact point is optional.
3. In accordance with Article 3 of Directive 2002/65/EC, where the transaction is proposed remotely, the lender shall indicate, where appropriate, the name and geographic address of his representative in the Member State of residence of the consumer. The telephone number, e-mail address and web address of the credit provider representative are optional.
4. If section 2 is not applicable, the lender informs the consumer whether counselling services are provided and on which basis, following the wording of Part A.
(if applicable)
Section “2. Credit Intermediate »
Product information provided to the consumer through credit:
1. The name, telephone number and geographic address of the credit intermediary are the coordinates that the consumer can use for any future correspondence.
2. Information on the e-mail address, fax number, web address and contact point is optional.
3. The credit intermediary tells the consumer whether counselling services are provided and on which basis, following the formulation of Part A.
4. Explanations regarding the method of remuneration of the credit intermediary. If a lender receives a commission, the amount and, if the lender is different from the name in section 1, the lender's name is indicated.
Section 3. Key characteristics of the loan
1. This section clearly explains the main characteristics of the credit, including the value and currency as well as the potential risks associated with the debtor rate, including the risks mentioned in point 8, and the structure of the amortization.
2. If the currency of the credit is not the national currency of the consumer, the lender states that the consumer will be notified regularly, at least if the exchange rate varies by more than 20%, that he will have the right, if any, to convert the currency of the credit contract or the possibility to renegotiate the terms and any other arrangement at the disposal of the consumer with a view to limiting his exposure to the exchange risk. When the credit contract contains a provision to limit the exchange risk, the lender indicates the maximum amount that the consumer would have to pay. When the credit contract does not contain any provision to limit the currency risk to which the consumer is exposed to a exchange rate fluctuation of less than 20%, the lender provides an example of the effect on the lending value of 20% of the value of the consumer's national currency relative to the credit currency.
3. The duration of the credit is expressed in years or months, depending on whether one or the other unit is the most appropriate. If the duration of the credit is likely to vary during the contract term, the lender explains when and under what conditions this variation may occur. If the credit is indefinite, for example in the case of a secured credit card, the lender clearly indicates it.
4. The type of credit should be clearly indicated (e.g. mortgage credit, housing loan, credit card with guarantee). The description of the type of credit clearly indicates how the capital and interest are refunded on the duration of the loan (i.e., the depreciation structure), specifying whether the credit contract deals with the repayment of the capital or whether the credit contracted under that contract is a credit without repayment of the capital, or a mixture of the two.
5. If the credit is, in whole or in part, an unrefunded capital credit, a statement clearly indicating this fact is clearly shown at the end of this section following the formulation of Part A.
6. This section specifies whether the debtor rate is fixed or variable and, where applicable, the periods during which it will remain fixed, the frequency of the changes in the rate and the possible limits of change in the debtor rate (e.g., ceilings and floors).
The formula used to review the variation in the debtor rate and its various components (e.g., the reference rate or interest rate deviations) are explained. The lender specifies, for example, on his website, where to find further information on the indices or rates used in the formula (e.g., the Euribor or the reference rate of the central bank).
7. If different debt rates apply depending on the circumstances, the information relates to all applicable rates.
8. The "total amount to be refunded" is the total amount due by the consumer. It is calculated by adding the amount of the loan and the total cost of the loan to the consumer. If the debtor rate is not fixed for the duration of the contract, it should be noted that this amount is indicative and may vary, especially depending on the variations in the debtor rate.
9. When the loan is secured by a mortgage on real property, by another comparable security right or by a real property right, the lender draws consumer attention to this fact. Where applicable, the lender indicates the estimated value of the real property or another security used to prepare this information sheet.
10. The lender indicates, where applicable:
(a) the "maximum amount of loan available in relation to the value of the property", which is the ratio of the amount to be financed/value of the property (pension ratio). This ratio is accompanied by an example showing in absolute terms the maximum amount that can be borrowed for the value of a particular property; or
(b) the "minimum value of the property required by the lender to lend the illustrated amount".
11. When credits are credits in several parts (e.g., loans in part at fixed rates, partly at variable rates), this information is included in the indication of the type of credit, and the information required is mentioned for each part of the credit.
Section 4. Interest rate and other fees
1. The "interest rate" corresponds to the debtor rate or debtor rates.
2. The debtor rate is indicated as a percentage.
If the debtor rate is variable, the information includes: (a) the assumptions used for the calculation of the GTA; and (b) if applicable, the applicable limits and thresholds; and (c) a warning that variability could affect the actual level of the TAEG. In order to attract the attention of the consumer, the size of character used for warning is greater and is evident in the main part of the ESIS. The warning is accompanied by an indicative example on the TAEG. When the debtor rate is capped, the example assumes that the debtor rate rises as soon as possible at the highest level provided for in the credit contract. In the absence of a ceiling, the example shows the TAEG at the highest debtor rate in the last twenty years at least or, if the underlying data for the calculation of the debtor rate are available for a period of less than twenty years, the longest period for which these data are available, on the basis of the highest value of any external reference rate used for the calculation of the debtor rate where applicable, or the highest value of This requirement does not apply to credit contracts whose debtor rate is fixed for an initial period of several years and can then be fixed for a new period after negotiations between the lender and the consumer. In the case of credit contracts whose debtor rate is fixed for an initial period of several years and can then be fixed for a new period after negotiations between the lender and the consumer, the information includes a warning that the GTA is calculated on the basis of the debt rate of the initial period. The warning is accompanied by an additional TAEG example calculated in accordance with Article 17, paragraph 4 of the directive, as transposed by the King under Article I.9, 42° of the Economic Law Code. When credits are credits in several parts (e.g., partly at fixed rates, partly at variable rates), the information is mentioned for each part of the credit.
3. In the "Other components of the TAEG" section, all other fees included in the TAEG, including non-recurring costs, such as administrative fees, and regular fees, such as annual administrative fees. The lender lists the fees by classifying them by category (non-recurring fees, fees to be paid regularly and included in the payments, fees to be paid regularly but not included in the payments), indicating their amount and specifying to whom and when they are to be paid. It is not necessary to include costs incurred for non-compliance with contractual obligations. When this amount is not known, the lender shall, if possible, give an indication of the amount or, failing that, explain the method of calculating the amount and specify that the amount is given only as an indication. In case some fees are not included in the TAEG because the lender does not know them, attention should be drawn to this fact.
If the consumer has indicated to the lender one or more elements of the credit that the lender prefers, such as the duration of the credit contract and the total amount of the credit, the lender shall, if possible, account for these elements; If a credit contract provides the consumer with different possibilities of debit, with different charges or debt rates, and the lender applies the hypothesis of Schedule I, Part II, it states that other debits existing for this type of credit may result in a higher TAEG. When the sampling conditions are used for the calculation of the TAEG, the lender draws attention to the costs associated with other sampling procedures that are not necessarily those used in the calculation of the TAEG.
4. If the registration of the mortgage or other comparable security right results in the payment of fees, this information is included in this section with the amount, if known, or, if not possible, the basis for determining that amount. If the fees are known and included in the TAEG, the existence and the amount of the costs are mentioned in the "Funds payable in one time". If the fees are not known to the lender and are therefore not considered in the TAEG, their existence is clearly mentioned on the list of fees that are not known to the lender. In both cases, the type formulation of Part A is used under the corresponding heading.
Section 5. Number and periodicity of payments
1. If payments are made at regular intervals, their periodicity (for example, monthly) is specified. If the frequency of payments is irregular, this fact is clearly explained to the consumer.
2. The number of payments indicated covers the entire duration of the loan.
Section 6. Amount of each payment
1. The currency of the credit and the currency of the payments are clearly indicated.
2. When the amount of the payments is likely to change during the credit period, the lender specifies during which time the initial amount of the payments remains unchanged, and when and with which periodicity it will subsequently change.
3. When the credit is, in whole or in part, a credit without a refund of capital, a statement clearly indicating it is evident at the end of this section, following the formulation of Part A.
If the consumer is required to contract a related savings product as a condition to obtain a credit without refund of the capital guaranteed by a mortgage or comparable security, the amount and periodicity of the payments are indicated.
4. When the debtor rate is variable, the information mentions it, following the formulation of Part A, and provides an example of the maximum amount of payment. When there is a ceiling, the example specifies what the amount of payments will be if the debtor rate reaches that ceiling. In the absence of a ceiling, it is the most unfavourable hypothesis that illustrates the level of payments at the highest debtor rate over the last twenty years, or, if the underlying data for the calculation of the debtor rate are available for a period of less than twenty years, the longest period for which these data are available, on the basis of the highest value of any external reference rate used for the calculation of the debtor rate where applicable or The requirement to provide an indicative example does not apply to credit contracts whose debtor rate is fixed for an initial period of several years and can then be fixed for a new period after negotiations between the lender and the consumer. When credits are credits in several parts (e.g., partly at fixed rates, partly at variable rates), the information is mentioned for each part of the credit, and for the total.
5. (if applicable) When the currency of the loan is not the national currency of the consumer or when the credit is indexed to a currency that is not the national currency of the consumer, the lender gives an encrypted example clearly showing the impact that changes in the applicable exchange rate may have on the amount of the payments, following the formulation of Part A. This example is based on a 20% reduction in the visible value of the national currency of the consumer, accompanied by an example When a ceiling limits the increase to less than 20%, the maximum amount of payments in the consumer currency is indicated, without mentioning the possibility of further increases.
6. Where the credit is, in whole or in part, a variable rate credit and point 3 applies, the example referred to in point 5 is provided on the basis of the amount of payment referred to in point 1.
7. Where the currency in which payments are denominated is different from the currency of the credit or the amount of each payment expressed in the national currency of the consumer depends on the corresponding amount in another currency, this section indicates the date on which the applicable exchange rate is calculated and the exchange rate or base on which it will be calculated and the frequency of their adjustment. Where applicable, the information provided includes the name of the institution that publishes the applicable exchange rate.
8. When the credit is a deferred interest credit whose interest is not fully refunded by the payments and is in addition to the total amount of the outstanding credit, the following explanations are provided: how and when the deferred interest is added to the credit as a cash contribution; and what are the consequences for the consumer in the remaining debt.
Section 7. Estimated time frame
1. This section is added when the debtor rate is fixed for the duration of the credit contract. Member States may provide that the indicative damping table is mandatory in other cases.
When the consumer has the right to receive a revised damping chart, this right is mentioned with the conditions under which the consumer can exercise it.
2. Member States may require that, if the debtor rate is likely to vary during the credit period, the lender shall indicate the period during which the initial debtor rate will remain unchanged.
3. The table to be included in this section includes the following columns: "maturity" (e.g., 1er month, 2e months, 3e month), "the amount of the payment", "interest to be paid by payment", "other fees included in the payment" (if applicable), "refunded capital by payment" and "remained capital due after each payment".
4. For the first year of reimbursement, information is provided for each instalment, and a subtotal corresponding to the end of this first year is provided for each column. For the following years, information can be provided on an annual basis. An additional line is added at the end of the table to indicate the total of each column. The total cost of the credit paid by the consumer (which corresponds to the total of the column "Payment amount") is properly highlighted and indicated as such.
5. If the debtor rate is variable and the amount of the payment after each change is not known, the lender may indicate in the damping table the same amount of payment for the duration of the credit. In this case, it draws the consumer's attention to this fact by visually differentiating the known amounts of hypothetical amounts (using, for example, another font, other borders or a different background). In addition, a clear and intelligible text explains during which periods the amounts presented in the schedule are likely to vary and why.
Section 8. Additional requirements
1. In this section, the lender refers to obligations such as real estate, life insurance, pay on a lender's account or purchase another product or service. For each obligation, the lender specifies to whom and within which time it must be fulfilled.
2. The lender specifies the length of the bond, for example the term of the credit contract. The lender specifies, for each obligation, all costs payable by the consumer that are not included in the TAEG.
3. The lender indicates whether the consumer is required to subscribe to ancillary services to obtain the credit under the conditions mentioned, and if so, whether the consumer is required to subscribe to the provider indicated by the lender or whether these services can be purchased from a provider chosen by the consumer. If this is subject to compliance with certain minimum requirements by the auxiliary services, these characteristics are described in this section.
If the credit contract is related to other products, the lender mentions the essential characteristics of these other products and clearly indicates whether the consumer has the right to terminate the credit contract or the related products separately, under what conditions and with what consequences as well as, if any, the possible consequences of the removal of the auxiliary services required under the credit contract.
Section 9. Advance payment
1. The lender specifies the conditions under which the consumer can repay the advance credit, entirely or partially.
2. In the section on exit fees, the lender draws the consumer's attention to any exit costs or any other costs payable for advance refund in order to compensate the lender and, where applicable, the lender indicates the amount. If the amount of compensation depends on several factors, such as the amount refunded or the interest rate in effect at the time of the advance refund, the lender indicates how the allowance is calculated and the maximum amount of the costs or, if not possible, provides an indicative example to inform the consumer of the possible level of compensation in several different scenarios.
Section 10. Variable characteristics
1. Where applicable, the lender explains the possibility of transferring the credit to another lender or to another real property, as well as the conditions for that transfer.
2. (If applicable) Additional features: where the product contains one of the characteristics listed in point 5, this section must list the product and provide a brief explanation of the following aspects: the circumstances under which the consumer can use this feature; the conditions related to the characteristic; if the fact that the characteristic is part of the credit guaranteed by a mortgage or a comparable guarantee means that the consumer loses regulatory or other protection generally associated with the characteristic; the company providing the characteristic (if this is different from the lender).
3. If the feature provides for an additional credit, then this section must indicate to the consumer the total amount of the credit (including the credit guaranteed by the mortgage or the comparable guarantee); if the additional credit is secured or not; the relevant debt rates and whether the characteristic is regulated or not. This additional amount of credit is included in the initial credit rating or, if not, this section specifies that the availability of the additional amount is subject to a new assessment of the consumer's repayment capacity.
4. If the characteristic implies a savings mechanism, the appropriate interest rate must be explained.
5. The possible additional features are as follows: "Overpayment/Moins Paid [payments greater than or less than the normal payment required by the depreciation structure]; "Temporary reimbursement expense" [periods during which the consumer is not required to make payments]; "Repayment" [possibility for the consumer to borrow funds already collected and refunded]; "Additional borrowing available without further approval"; "Secure or non-secure additional borrowing" [in accordance with paragraph 3 above]; "Credit Card"; "Related Current Account"; and "Related Savings Account".
6. The lender may include all other features offered by the lender under the credit contract that are not mentioned in the previous sections.
Section 11. Other borrower rights
1. The lender gives details on the right(s) of withdrawal or reflection and, where applicable, other existing rights such as portability (including subrogation), on the conditions to which this or these rights are subject, on the procedure to be followed by the consumer in order to exercise them, including the address where the request for withdrawal is sent, as well as on the corresponding costs, if applicable.
2. When the consumer has a period of reflection or a right of withdrawal, this faculty is clearly mentioned.
3. In accordance with Article 3 of Directive 2002/65/EC, where the transaction is proposed remotely, the consumer is informed of the existence or absence of a right of withdrawal.
Section 12. Claims
1. This section indicates the internal contact point [name of responsible service] and the means of contacting it in the event of a claim [geographic address] or [phone number] or [contact person]: [contact details] and a link to the claim procedure on the appropriate page of a website or a similar source of information.
2. It indicates the name of the outside body responsible for the settlement of claims and extrajudicial remedies and where the use of the internal complaint procedure is a precondition for access to that body, it indicates it by following the formulation of Part A.
3. In the case of a credit contract with a consumer residing in another Member State, the lender mentions the existence of the FIN-NET network (http ://ec.europa.eu/internal_market/fin-net/index_en.htm).
Section 13. Non-compliance with loan commitments: consequences for the borrower
1. If the non-compliance by the consumer of any of the obligations related to his loan may have financial or legal consequences for him, the lender describes in this section the main possible situations (such as delay or default of payment, or non-compliance with the obligations set out in section 8, "Additional obligations", for example) and indicates where additional information could be obtained.
2. For each of these cases, the lender specifies, in clear and easily understandable terms, the penalties or consequences to which the borrower exposes himself. The most serious consequences are highlighted.
Section 14. Additional information
1. In the event of remote sale, this section includes any section specifying the law applicable to the credit contract and/or the competent court.
2. When the lender intends to communicate with the consumer during the term of validity of the contract in another language than that of the SIS, this fact is mentioned and the language of communication is indicated. This point is without prejudice to Article 3, paragraph 1, item 3, (g), of Directive 2002/65/EC.
3. The lender or credit intermediary indicates the consumer's right to receive a copy of the draft credit contract, at least after an offer involving the lender was provided.
Section 15. Supervisory Authority
The competent authorities for the monitoring of the pre-contractual stage of the loan activity are indicated.