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Rules On Consumer Crediting

Original Language Title: Noteikumi par patērētāja kreditēšanu

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Cabinet of Ministers Regulations No. 1219 Riga 2010 December 28 (Mon. No 75 47) rules on consumer credit issued under the consumer protection law in the fourth part of article 8 and article 7 of the law on Advertising, the second part i. General questions 1. provisions laying down the requirements for consumer lending services of advertising content, procedures provide information before the consumer credit agreement (hereinafter referred to as the lending agreement), and the content of information lending contract requirements and be included in adoption information , the annual percentage rate calculation method, a procedure for informing the consumer lending during the term of the contract, the early repayment of the credit and the total cost of the credit to fair procedures, a reduction in certain types of agreements applicable credit requirements and lending obligations of intermediaries, as well as the legal framework for consumer lending against pledge of movables.
2. the terms used in the rules: 2.1 the credit intermediary: the natural or legal person who is not acting as a credit and what his economic or professional activities for a fee (which under the agreement may be concluded in the form of cash or any other form of financial consideration) performs one of the following: 2.1.1 offers lending contracts consumers or presenting them;
2.1.2. behalf of credit lending contracts with consumers;
2.1.3. provide assistance to consumers when making other lending agreements related preparations;
2.2. the total cost of the credit to the consumer – all the costs, including interest, commissions, taxes and any other fees which the consumer has to pay in connection with the credit agreement and which are known to the employer credit (except sworn notary costs). The total cost of the credit to include also the costs for additional services in connection with lending contracts, including insurance premiums, if additional service contract is a prerequisite for obtaining a loan or get it with the provided terms and conditions;
2.3. the total amount payable by the consumer, the amount that represents the total amount of credit and total cost of the credit to the consumer;
2.4. annual interest rate – total cost of the credit to the consumer, expressed as a percentage of annual consumer credit granted the total amount, including costs in accordance with such rules 5, 6 and 7;
2.5. the borrowing rate – the interest rate expressed as a fixed or variable percentage applied on an annual basis to the amount of credit withdrawn;
2.6. the fixed borrowing rate – only borrowing rate, by which the credit provider and the consumer agree in the credit agreement for the entire lending contract period, the borrowing rate, or the number of individual contract period using only a certain fixed rate interest. If the lending contract, not all borrowing rates are determined, the borrowing rate shall be deemed to be fixed only for the period for which the borrowing rate is set by certain fixed rate interest, which agreed the contract. the lending Lending agreements, which regularly reviews the borrowing rate in accordance with changes in the lending agreement specified in the base interest rate (Rigibor/Libor, Euribor or others), shall not be regarded as credit agreements with a fixed borrowing rate;
2.7. the total amount of credit – the maximum loan amount available to the consumer under a credit agreement;
2.8. membership benefit organizations – organizations that are established for the mutual benefit of their members, making money only to its members, running a social objective in accordance with the requirements of the law, receiving and managing deposits, provides lending services only to their members by providing loans with annual interest rate, which is lower than the prevailing market rates prevailing or limited according to law, and membership is only available to persons living or working in a particular location, employees and retired employees of a particular employer or persons who meet the other statutory criteria that establish common links between members;
2.9. linked credit agreement, the consumer credit contract referred only to fully or partially fund the contract for the supply of certain goods or the provision of a particular service, and these two contracts actually form a commercial unit. Consumer credit agreement and a contract for the supply of specific goods or the provision of a particular service consists of a commercial unit in the following cases: 2.9.1. credit granted to the consumer goods manufacturer, seller or service provider;
2.9.2. the credit to the consumer with a third party, and the grantor uses the manufacturer, seller or service provider in connection with the credit agreement, or;
2.9.3. the credit to the consumer with a third party, and the specific product or the service is clearly indicated in the contract of lending;
2.10. the ancillary capacity – the manufacturer, the seller or the service provider to which the activity as credit intermediaries is not the main economic or professional activity.
3. These provisions shall not apply: 3.1. credit contracts entered into by the employer and the employee, if the credit is granted free of interest or at annual percentage rate of charge which is lower than the prevailing market rates prevailing and what not offered to the public generally, and if the supply of credit is not the core business of the employer;
3.2. the lending contracts to be concluded with investment firms or credit institutions to give the investor the opportunity to carry out a transaction relating to one or more of the instruments is governed according to the laws of the markets in financial instruments, if the investment firm or credit institution granting the credit is involved in such transaction;
3.3. credit agreements is the Court or other legal authority, reached a certain settlement result;
3.4. credit agreements which relate to the deferred payment of the debt, without payment of interest and other additional payments;

3.5. the lending contracts on loans that general interest according to the procedures laid down in the laws and granted a limited circle of persons with interest rates lower than the prevailing market rates of interest, existing or without interest, or in accordance with other provisions, which would be more advantageous than the consumer market generally used terms, and with interest rates no higher than the market generally to existing interest rate;
3.6. the rental or leasing contracts where no consumer liability or a right to acquire the property of the object of the contract or is not intended to fully contract the value of the contract period;
3.7. credit agreements under which the loan is granted without payment of interest and other additional payments.
4. monitoring of compliance with these provisions take the consumer rights protection centre.
II. the calculation of the annual percentage rate annual interest rate calculated in accordance with the provisions specified in annex 1 of the formula and conditions, determining the current value of all existing or future liabilities (remove the amount of the credit, payment and costs) which have been agreed by the employer and consumer credit.  
6. for the purpose of calculating the annual percentage rate of charge, determine the total cost of the credit to the consumer. Calculating the total cost of the credit to the consumer shall not be taken into account such payments: 6.1 any charges which the consumer pays for credit consumers laid down in the Treaty, the non-performance or improper performance;
6.2. payment other than the purchase price paid by consumers when purchasing goods or services, regardless of whether the transaction is made in cash or by credit.
7. Costs associated with the maintenance of the account that is used for making payments and the cost of credit, as well as the cost of billing feature, used for making payments and credit costs, and other costs associated with making payments, the total cost of the credit to the consumer, except in the case where the account opening account is voluntary and costs are clearly and separately shown in the credit agreement or in any other contract concluded with a consumer.
8. The calculation shall be made on the assumption that the credit contract is valid during the period for which it is concluded, and that the credit and the consumer will fulfil their obligations in accordance with the rules and deadlines, for which both parties have agreed lending agreement.
9. the lending agreement that allows changes to the annual rate of interest included in the borrowing rate or other costs included in the annual rate of interest, but not detectable at the time when it is calculated, the annual percentage rate is calculated on the assumption that the borrowing rate and other charges will remain fixed and will be applied to the lending contract.
10. the calculation of the annual percentage rate of charge, credit, the employer has the right to use the provisions of paragraph 3 of annex 1 of the above additional assumptions.
III. requirements for lending service advertising Advertising in which 11 offers the possibility to credit consumer, banned: 11.1. promote irresponsible borrowing. In determining whether advertising promotes irresponsible borrowing, taking into account the total content of advertising and presentation, the presentation and the information provided in the advertisement for the lending service and helps the consumer to adopt commercially reasonable;
11.2. to provide information about the possibility to get credit for people with adverse credit history.
12. advertising, which offers the possibility to credit consumers and indicates an interest rate or other numerical information about the cost of the credit, by means of a representative example in a clear, concise and prominent way points (if specific credit agreements unless otherwise specified): 12.1. loan rate (fixed, variable, or both) along with information on the applicable charges included in the total cost of the credit to the consumer;
12.2. the total amount of credit;
12.3. the annual percentage rate of charge;
12.4. the lending contract period, if any;
12.5. If the loan is a form of deferred payment for a specific good or service, the price of goods or services, and any initial deposit amount;
12.6. the total amount payable by the consumer and the amount of the payments, if possible;
12.7. the compulsory obligation to assume the credit agreement related to additional services, such as compulsory insurance, if agreement on the conclusion of additional services is needed to get credit or get it with the provided terms and conditions, and such costs cannot be determined in advance.
13. advertising on excess credit that must be repaid on demand or within three months, if the ad was created, indicating the interest rate or other numerical information about the cost of the credit, by means of a representative example indicates at least that rule 12.1, 12.2 and 12.3.. the information referred to in point.
14. advertising on the lending contracts for the acquisition of immovable property or credit contract repayment secured by mortgage on immovable property, if the ad was created, indicating the interest rate or other numerical information about the cost of the credit, by means of a representative example indicates this rule 12.1, 12.2, 12.4, 12.5 and 12.6. information referred to in point.
15. advertising on the lending agreement, under which the consumer credit has to be repaid within a period which shall not exceed three months, and for the use of credits will be required for the additional duty compared with the total amount of credit and lending contract period, if the ad was created, indicating the interest rate or other numerical information about the cost of the credit, by means of a representative example indicates this rule 12.1, 12.2, 12.4, 12.5 and 12.6. information referred to in point.
16. advertising on the lending agreement which is concluded by the consumer credit's storage as security transferable in any case and in accordance with the consumer's responsibility is limited to cases where the mortgaged ad was created, indicating the interest rate or other numerical information about the cost of the credit, by means of a representative example indicates this rule 12.1, 12.4, and the information referred to in paragraph 12.6.
17. The consumer credit contract advertising, under which the employer credits silent agreed that the consumer use the funds which exceed the current balance in the consumer's current account or the excess credit granted, this provision only applies, paragraph 11.

IV. information to be provided to the consumer prior to the conclusion of the contract of credit 18. Before the consumer is bound to the lending contract or agreed to offer credit or the credit intermediary shall, on the basis of the credit terms and conditions of the credit and the consumer's preferences and the information, if the consumer has provided such timely provides the consumer with the information needed to compare different offers and make an informed decision on the conclusion of the agreement on the credit.
19. the information provided by the consumer in accordance with paragraph 18 of these regulations, indicating: 19.1. types of credit;
19.2. the grantor and, if involved in a credit intermediary, the credit intermediary's name, registration number, registered office, and the actual service delivery address, if different from the registered office. If the credit intermediary concerned is a natural person, indicating name, surname, residential address declared and actual service address;
19.3. the total amount of credit and withdrawal;
19.4. the lending contract period;
19.5. the product or service and its price, if in accordance with the lending agreement granting a loan form of deferred payment for a specific good or service, or for concluding a contract related lending;
12.2. the borrowing rate, the rules that determine the application of the borrowing rate and the base interest rate, if any are applicable to the initial borrowing rate, as well as the change in the borrowing rate periods, conditions and procedures. If credit different borrowing rates indicates that information about all the applicable rates;
19.7. the annual percentage rate of charge and the total amount payable by the consumer. This information reflects by means of a representative example, including any annual interest rate assumptions used for calculation. If the consumer has informed the employer of the desired credit credit one or more characteristics of the credit in this example reflects the characteristics specified by the consumer. If the lending agreement provides different ways of drawdown with different charges or borrowing rates and credit management annual rates of interest used in the calculation of annex 1 of these rules referred to in point 3.2, credit the donor indicates that if this type of credit agreement uses the other removal mechanisms, funds will be applied to a higher annual percentage rate;
19.8. the payment of the amount, number and frequency of payments to be made by the consumer, as well as the order in which payments will be allocated to different outstanding balances charged at different borrowing rates (if such arrangements are fixed);
12.4. the costs associated with maintaining one or several accounts that will be used in payment and credit operations for the removal of the registration, indicating the cost of the payment instrument and making payments and withdrawals, as well as any other costs deriving from the credit agreement and the conditions under which those charges may be changed. This information does not indicate if opening the account in accordance with the lending agreement is voluntary or not provided;
19.10. notarial costs, which the lending agreement shall be borne by the consumer (if such are provided);
19.11. compulsory obligation to assume the credit agreement related to additional services, such as compulsory insurance, if the conclusion of the contract for additional service is required to receive credit or credit applications with proposed terms and conditions;
19.12. arrears and the procedures for their implementation, as well as liquidated damages or other compensation for non-performance of contractual obligations, or the improper execution (where provided);
19.13. information about the consequences if no payment is made;
19.14. the security required, if any;
19.15. information about the right of withdrawal from the credit agreement.
19.16. the right to early repayment of the credit and the credit information of the employer's right to compensation and the arrangements for fixing the refund in accordance with the provisions of paragraph 83 (if any);
19.17. the consumer's rights under the consumer protection act immediately and free of charge, to be informed about the use of the database to evaluate a consumer's ability to repay the loan;
19.18. consumer rights, free of charge, upon request, receive a copy of the draft credit agreement;
19.19. the period during which the pre-contractual information the employer is bound by the credit (if applicable).
20. This provision of the information referred to in paragraph 19 of the rules of the appropriate annex 2 contained in the standard European consumer credit information form on paper or on another durable medium. All such information should be equally visible. Credit the employer has complied with the information requirements pursuant to this paragraph and the provisions on distance contracts for financial services in specific information of consumers of financial services before the distance contract if he has provided consumer information under that form.
21. Any other information that is not specified in point 19 of these rules and what the employer gives the credit to the consumer, shall be entered in a separate document, which shall be annexed to these rules in the annex 2 to the standard European consumer credit information form.
22. These rules 18, 19, 20 and 21 of the type referred to in paragraph 1 shall not apply to: 22.1. lending agreements concluded for the acquisition of immovable property or whose repayment is secured by mortgage on immovable property;
22.2. the lending agreements, which require that the consumer credit has to be repaid within a period which shall not exceed three months, and under which the use of the credit is required for the additional duty compared with the total amount of credit and lending contract period;
22.3. the lending contracts entered into by a consumer credit's storage as security transferable in any case and in accordance with the consumer's responsibility is limited to the pledged thing;
22.4. the lending contracts, under which the employer credits silent agreed that the consumer use the funds which exceed the current balance in the consumer's current account or the excess credit granted.

23. the employer on request by the consumer free of charge issued by the lending of copies of the draft Treaty, except where the grantor at the time of the request unwilling to conclude an agreement with consumer lending.
24. If the means of communication between the grantor of credit and the consumer voice telephony is used according to the rules on distance contracts for financial services in the nature of financial services to be provided in accordance with the provisions of these regulations shall at least 19.3, 19.4, 19.5., and 19.8 19.6. information referred to, as well as the annual percentage rate of charge, reflecting it by means of a representative example and the total amount payable by the consumer.
25. If the contract is concluded by the consumer's request using a means of distance communication which does not enable providing the information in accordance with this provision, 18, 19, 20 and 21, the credit management immediately after the conclusion of the contract, using the standard European consumer credit information form (annex 2) provides the consumer with specific information.
26. the lending agreement under which payments made by the consumer by not immediately the total amount of credit repayment, but uses the capital accumulation under the lending agreement or amendment in certain periods and rules information, under 18, 19, 20 and 21 of these requirements to be provided to the consumer prior to the conclusion of the contract, include a clear and concise statement that such credit agreements do not guarantee under the contract issued by crediting the credit repayment of the total amount of except where such a guarantee is given.
27. In order to enable consumers to assess the suitability of the proposed lending agreement for his needs and financial situation, credit or the credit intermediary to the consumer's request, explaining the consumer to the standard European consumer credit information form (annex 2) as well as the information services essential characteristics and consequences of your use of the services could lead to consumer, including informed of the consequences arising or the agreement without proper execution.
V. information on excess credit, members of the Organization of the benefit of the credit contracts concluded and lending contracts the original lending contract obligations to be provided to the consumer prior to the conclusion of the contract of credit 28. Before the consumer is committed lending agreement or offer concerning a credit agreement for overshoot, which is to be repaid on demand or within three months, as well as the rules referred to in paragraph 31 of the lending agreements, credit or the credit intermediary based on the credit of the credit terms and conditions and consumer preferences and the information, if the consumer has provided such timely provides the consumer with the information needed to compare different offers and make an informed decision on the conclusion of the agreement on the credit.
29. This provision of the information referred to in paragraph 28 of the State: 29.1. the type of credit;
29.2. the grantor and, if the credit intermediary is involved, the credit intermediary's name, registration number, registered office, and the actual service delivery address, if different from the legal. If the credit intermediary concerned is a natural person, indicating name, surname, residential address declared and actual service address;
29.3. the total amount of credit;
29.4. the lending contract period;
29.5. the borrowing rate, the conditions governing the application of that rate, the base rate applicable to the initial borrowing rate, crediting the conclusion of the contract the applicable costs and the conditions under which those costs may change if change is cost;
18.4. annual interest rate, reflecting it by means of a representative example, specifying all these rates assumptions used for the calculations;
18.5. the termination of the lending arrangements;
29.8. excess of credit contracts, which must be repaid on demand or within three months, an indication that consumer demand at any time, may be asked to repay the amount of credit in full, if this condition is true for the specific credit;
29.9. arrears and the procedures for their implementation, as well as liquidated damages or other compensation for non-performance (if applicable);
29.10. consumer rights under the consumer protection act immediately and free of charge, to be informed about the use of the database to evaluate a consumer's ability to repay the loan;
29.11. excess of credit contracts, which must be repaid on demand or within three months, the information about the costs applicable from the moment of conclusion of the contract and the conditions under which those charges may be changed (if the change is allowed costs);
29.12. period during which the pre-contractual information the employer is bound by the credit (if applicable).
30. This provision of the information referred to in paragraph 29 shall be given in respect of this provision in annex 3 to the standard European consumer credit information form on paper or on another durable medium. All such information should be equally visible. Credit the employer has complied with the information requirements pursuant to this paragraph and the provisions on distance contracts for financial services in specific information of consumers of financial services before the distance contract if he has provided consumer information under that form.
31. lending agreements concluded between the members of the Organization, as well as the benefit of credit agreements in which the credit provider and the consumer agree on a repayment order, if the consumer has not fulfilled the original credit agreement, and this avoid possible court proceedings for consumer lending obligations laid down in the Treaty, as well as the consumer would not thereby be subject to terms less favourable than those laid down in the initial credit agreement, the consumer in addition to the provisions referred to in paragraph 29, the information indicates the following information : 31.1., the payment number and frequency of payments to be made by the consumer, as well as the order in which payments will be allocated to different outstanding balances charged at different borrowing rates (if such arrangements are fixed);

31.2. the right of early repayment, and information on the grantor's right to compensation and the arrangements for fixing the refund in accordance with the provisions of paragraph 72 (if any).
32. If the means of communication between the grantor of credit and the consumer uses the voice telephony and consumer requests an immediate credit exceeded availability, characteristics of the financial service shall include at least the following rule 29.3., 29.5 29.6 29.8., and the information referred to in point. This information is also provided on the credit of the excess credit, to be repaid within one month. The rules referred to in paragraph 31 of the lending agreements, in addition to also include characteristics of the lending contract period.
33. If the contract is concluded by the consumer's request using a means of distance communication which does not enable providing the information in accordance with this provision, 28, 29, 30 and 31, credit management immediately after the conclusion of the contract of credit provides consumers with information about the lending agreement in accordance with the provisions of Chapter VI, in so far as it is applicable.
34. the employer on request by the consumer lending issued free of charge a copy of the draft Treaty, which includes the information in accordance with the provisions of Chapter VI, in so far as it is applicable. This paragraph shall not apply if the grantor at the time of the request unwilling to proceed to conclude a contract with a consumer credit.
Vi. the lending agreement 35. information appearing on the lending agreement clearly and concisely indicate (if specific types of credit agreements unless otherwise specified): 21.8. type of credit;
35.2. credit and, if involved in a credit intermediary, the credit intermediary's name, registration number, registered office, consumer and its address. If the credit intermediary concerned is a natural person, indicating name, surname, residential address declared and actual service address;
35.3. the lending contract period;
35.4. the total amount of credit and the drawdown;
22.1. the product or service and its price, if in accordance with the lending agreement granting a loan form of deferred payment for a specific good or service, or for concluding a contract related lending;
35.6. the borrowing rate, the rules that determine the application of the borrowing rate, the base rate of interest, if any are applicable to the initial borrowing rate, and loan rate periods, rules and procedures. If your loan, depending on the circumstances, different borrowing rates, the lending agreement specifies that information about all the applicable rates;
22.2. the annual percentage rate of charge and the total amount payable by the consumer and the credit at the time of conclusion of the contract, indicating the assumptions used in calculating the annual percentage rate;
22.2. the payment of the amount, number and frequency of payments to be made by the consumer, as well as the order in which payments will be directed to different outstanding balances charged at different borrowing rates (if applicable);
22.3. the rights of the consumer lending at any time during the term of the contract, upon request and free of charge to receive the account statement with the credit repayment table on paper or on another durable medium, agreed between the parties in the agreement, if the credit lending contract States the total amount of the loan repayment deadline. Credit repayment table showing the payments to be made by the consumer, the periods and rules. The table includes each transcript for credit payment of refund to reflect the total amount of credit repayment, interest calculated on the basis of the borrowing rate and additional costs, if any, for lending agreement. If the interest rate is not fixed or under contract by crediting the extra cost can be changed, the repayment of the credit clearly and concisely in the table indicates that the data given in the table are valid only until the next change in the borrowing rate or the additional costs of modification in accordance with the lending contract;
35.10. statement indicating the the borrowing rates and the associated one-time costs recurring and repayment periods and rules, where, under the contract, the cost of credit and interest repayment, repayment of the total amount of credit;
35.11. If the contract provides optional credit account, charges for maintaining one or several accounts, which are used to make payments to the drawdown of the operation and for registration, stating the payment instruments and payment of costs and the withdrawal of credit and any other costs deriving from the credit agreement and the conditions under which those charges may be changed;
35.12. lending arrears at the time of conclusion of the contract and the application procedures and penalties, or other compensation for non-fulfilment of contractual obligations or not properly performed (if any);
35.13. information about the consequences of not taking payment;
obligation to pay notarial 69.35. costs (if such are provided);
35.15. collateral and insurance (if necessary);
35.16. information about the right of withdrawal from the credit agreement, the period during which the right of withdrawal may be used, and the other provisions of the conditions of use, including information on the consumer's obligation to repay the loan received the loan amount and the interest in accordance with the consumer protection law, as well as the percent of days payable;
35.17. information about consumer protection law laid down in article 31 of the consumer's claims in connection with consumer lending for the purchase of goods or services, as well as the conditions for the exercise of this right;
35.18. information on the right to early repayment of the credit, the procedure for early repayment, as well as information on the grantor's right to compensation and the arrangements for fixing the refund in accordance with the provisions of paragraph 72 (if any);
35.19. procedures to be followed when exercising the right to terminate the contract of lending;
35.20. existing information on out-of-court dispute resolution mechanism and its use of consumer options (if any);
35.21. other terms and conditions of contract (where provided);
35.22. the supervisory authorities of the name and address.
36. This rule 22.3. in the case referred to in point credit partners credit at any time during the term of the contract, the consumer shall be issued free of charge account statement credit repayment in the form of a table.

37. lending agreement under which payments made by the consumer do not immediately redirects the repayment of the total amount of credit, but are used for the accumulation of capital in accordance with the lending agreement or amendment of certain time periods and conditions of the credit to this provision the information referred to in paragraph 35 contains clear and concise statement that such credit agreements do not guarantee under the contract issued by crediting the total amount of credit repayment, unless such a guarantee is given.
38. the Treaty for the excess credit that must be repaid on demand or within three months, clearly and concisely: 38.1. type of credit;
38.2. the grantor and the credit intermediary's name, registration number, registered office, consumer and its address. If the credit intermediary concerned is a natural person, indicating name, surname, residential address declared and actual service address;
38.3. the lending contract period;
23.9. the total amount of credit and the conditions of use;
38.5. the borrowing rate, the rules that determine the application of the borrowing rate, the base rate of interest, if any are applicable to the initial borrowing rate, as well as the change in the borrowing rate, the conditions and the period of the agenda. If the excess credit different borrowing rates, the lending agreement shall specify the information referred to in all the applicable rates;
24.0. the annual percentage rate of charge and the total cost of the credit to the consumer, calculated lending at the time of conclusion of the contract. Lending agreement tells all the assumptions used for calculating the said rate pursuant to this provision and to point 2.4 2.2 and (6);
24.0. State that the consumer at any time at the request of the grantor may be asked to repay the amount of credit in full;
24.1. information about charges, applicable from excess credit in the conclusion of the contract and the conditions under which those charges may be changed.
39. the lending agreement, which provides that the consumer is required to repay the credit period not exceeding three months, and under which the use of the credit is required for the additional duty compared with the total amount of credit and lending contract period, indicates that rule 21.9 21.9 21.8.,.,.,.,., 35.4 35.5 35.6.,.,., 35.12 35.11 22.2.,.,., 35.13 69.35 35.18, 35.15.,.,., 35.20 35.19.35.21 and 35.22. information referred to in as well as the total amount payable by the consumer.
40. the lending contract, purchasing real estate or lending agreement, repayment of which secured by mortgage on immovable property, indicates that rule 21.9 21.9 21.8.,.,.,.,., 22.0 22.1 22.2 22.3 35.6.,.,.,.,., 35.12 35.10 35.11.,.,., 35.13 69.35 35.18, 35.15.,.,., 35.20 35.19.35.21. and information referred to in paragraph 35.22.
41. the lending agreement, which concluded the credit to the consumer's possession as security transferable in any case and in accordance with the consumer's responsibility is limited to the pledged thing noted that rule 21.9 21.9 21.8.,.,.,.,., 22.0 22.1 22.2.,.,., 35.13 69.35 35.12., 35.18, 35.15.,.,., 35.20 35.19.35.21 and 35.22. referred to information as well as the total amount payable by the consumer, mortgage details that ensure its characteristic identification , mortgage and credit assessment of the employer's responsibility for the maintenance of lending securities for the duration of the contract, specifying the insurance company that insured the credit's civil liability for their acts or omissions resulting in damage to the credit of the mortgage deposited in accordance with paragraph 61 of these regulations.
42. lending agreement concluded by a member organization of the benefit, at least this rule 35.2, 35.3 21.8.,.,.,., 22.0 22.1 22.2 22.2 22.1.,.,., and 35.12. information referred to in point.
43. the lending agreement, in which the grantor and the consumer agree on a repayment order, if the consumer has not fulfilled the original credit agreement, and this avoid possible court proceedings for consumer lending obligations laid down in the Treaty, as well as the consumer would not thereby be subject to terms less favourable than those laid down in the initial credit agreement, the consumer shall specify at least the rule 21.9 21.9 21.8.,.,.,.,., 35.4 35.5 35.6. , 35.7, 22.2, 22.3, 35.12. and 35.18. information referred to in point. However, if the credit agreement is subject to the provisions of the conditions referred to in paragraph 38, the only 38 of these rules.
44. If by the consumer and the grantor of credit contract for current account opening with the possibility that the consumer has the right to use funds which exceed the current balance in the consumer's current account or the excess credit granted contract for current account opening in addition to include information on the borrowing rate, the application of the provisions of this rate, the base rate applicable to the initial borrowing rate, crediting the conclusion of the contract the applicable costs and conditions under which those costs may change if change is cost. Such contracts that rule 35, 36, 37 and 38 above requirements shall not apply.
45. All amendments and additions to the contract for the loan in writing (on paper or on another durable medium), and signed by both parties, except for amendments arising from lending contractual loan rate change provisions of the consumer credit has informed these changes pursuant to this provision, or 62 63.65.
46. the consumer is obliged to pay only credit payments provided for in the Treaty.
47. lending agreement specified information should be equally visible.
VII. Requirements applicable to consumer lending against pledge of movables 48. Provide the consumer lending services, in which the grantor's possession as security transferable by a movable thing and the consumer's responsibility is limited to the use of the mortgaged estate (mortgage) is prohibited during the period from 8 p.m. until 8.00 o'clock. 49.48. These provisions referred to in paragraph 1, the consumer lending against pledge allowed to perform only the building or the part of the building. Consumer lending against pledge of forbidden to organise temporary use, temporary and mobile projects.

50. the employer must ensure the security of the deposited safe storage the storage facilities, providing such storage conditions to any unauthorised person from having access to mortgages.
51. The vault is in the same building with the customer service, and it is isolated from other facilities and customer service. The entrance to the vault may not be in the direct field of vision of the client and the availability zone.
52. large pledge, it is not possible to physically store the rules referred to in paragraph 51 of the vault can store other specially equipped room which may be located in a separate building or parking lot, provides the storage conditions to any unauthorised person from having access to mortgages. Credit pledge of bulky storage site provides 24-hour security and video surveillance in accordance with the provisions of paragraph 53.
53. the employer shall conclude one or more agreements with the security guard merchants who operate in accordance with the law of security activities, in order to ensure that the consumer lending service of the following conditions are fulfilled: 53.1. This provision referred to in paragraph 49 of the building or part of a building that is used to provide the service, a consumer lending against pledge of movables, including storage, is equipped with an automatic burglar and fire alarm equipment that is connected to the central security control, using no less than two different alarm transmission channels;
53.2. solid storage, customer service and entrance to the internal and external video surveillance via CCTV cameras and video footage in real time mode (video recording resolution should be no less than 520 TV lines, 25 frame per second each camera video with the original data stream no less than 184.25 Mbps, and the application of h.264/AVC/MPEG-4 part 10 standard video compression), providing equipment and video ierakstoš the safe preservation to prevent unlawful destruction. The video kept for at least a month, counting from the date of the video;
53.3. lending service delivery, acceptance and issuance of securities takes place in the security zone;
53.4. at the entrance to the room service placed informational signs that warn consumers about video surveillance;
13. lending service space and storage facilities shall be equipped with alarm button, connected to the security guard's central security control.
54. it shall be prohibited to accept as a pledge case: 54.1. which credit the donor cannot provide it needs special storage conditions (temperature, light, humidity and other conditions), as the case may be;
54.2. which has been removed from the private circulation;
54.3. which circulation is limited;
54.4. which has destroyed or damaged things the manufacturer's identification number has been assigned or otherwise difficult or make impossible things.
55. the employer is obliged to verify the identity of the person from which the pledge is accepted.
56. the employer must ensure its possession of the collateral accounts, subject to the following conditions: 56.1. records must be made in electronic form, using the appropriate accounting program that provides: data storage safe 56.1.1.;
56.1.2. any operations carried out on the data (recording, edit, view, delete) history;
56.1.3. record number automatically generated;
56.1.4. the attachment files, such as photographs and scanned document retention with a registration record;
56.1.5. user identification;
56.1.6. print the record;
56.2. electronic records are made locally (no data is transferred and stored online on a remote server, which provides data backup copy and remote access to the registry information), in addition to written records made using caurauklot, stamped log with numbered pages.
57. The provisions referred to in paragraph 56 of the accounting system records the following data: 57.1. the consumer's name and passport data (identity number, passport number);
57.2. in concluding the lending contract number and date;
57.3. the total amount of credit;
57.4. pledge amount of assessment;
57.5. a description of the securities, subject to the following conditions: 57.5.1. when credit's possession of the collateral is transferred to the precious metal, and articles thereof, shall indicate the type of precious metal, fineness, weight in grams (with accuracy 0.1 g), a case that provides a description of the identification, adding things photo;
57.5.2. If the credit's possession of the collateral is transferred to precious and their wares, records indicate the type of precious, weight Carat (ct accuracy 0.001), a description that provides identification, adding things photo;
57.5.3. other types of mortgage records indicate the name of the case, secured the manufacturer's assigned identification number, make, model, description, providing its identification, adding things photo;
57.6. payments made by the consumer in accordance with the lending contract;
57.7. mortgage redemption date or date of sale of the mortgage if the mortgage is being realized at the consumer's debt.
58. This provision, 57.2, 57.3 57.1..., 57.4 and 57.5.. data referred to in records system immediately after lending the conclusion of the contract. This rule 57.6. data referred to in records system immediately after receipt of payment by the consumer. 57.7. These provisions referred to data recorded in the accounting system immediately after mortgage redemption or sale of the security.
59. The provisions of paragraph 57 of the securities referred to in the records shall be stored for not less than one year from the date of redemption of the mortgage or not less than five years from the date of the sale of securities.
60. the employer shall develop its possession of the transferred securities identification system to ensure unambiguous identification of securities according to the rules referred to in paragraph 56 of the accounting system in the entry and the lending contract concluded.
61. the employer is obliged to insure their civil liability for their actions or inaction resulted in the damage of the credit deposited for the pledge. Insurance against civil liability in respect of the limits of liability for the insurance period may not be less than the credit's total amount of loans.
VIII. Consumer information

62. If the lending contract credit's right to amend the loan rate lending during the credit contract shall inform the individual consumers of any changes in the borrowing rate for one month before the date of entry into force if other legislation or agreement, unless otherwise defined in the longer term. The following information shall be provided in writing or on another durable medium, for which the grantor has agreed with the consumer, giving information about the amount of payments by borrowing rates for the entry into force of the changes, as well as information on changes in the number and frequency of payments.
63. If the change in the borrowing rate stems from changes in the base interest rate (Rigibor/Libor, Euribor or others), and information about new loan rate variable part is publicly available, including on the premises of the employer credit, lending agreement, the parties may agree that the information provided to the consumer periodically according to the lending contract deadlines.
64. In the case of excess credit agreement, the credit grantor will regularly inform the consumer statement of account, on paper or on another durable medium, agreed between the parties in the agreement on lending: 64.1. the precise time period covered by the account statement;
64.2. removed the credit amounts and the date thereof;
64.3. previous account statement and the date of the balance sheet;
64.4. new balance;
64.5. consumer payment dates and amounts;
64.6. the borrowing rate applied;
64.7. any eligible costs;
64.8. minimum amount payable, if one is specified.
65. in addition to the provisions laid down in paragraph 64, the excess credit during the period of the agreement, the credit grantor shall inform the individual consumer as the borrowing rate or in accordance with the lending contract cost increase to be paid one month before the date of entry into force if other legislation or agreement, unless otherwise defined in the longer term. The following information shall be provided on paper or on another durable medium, for which the grantor has agreed with the consumer. The excess credit agreement the parties may agree that the information provided to the consumer in paragraph 64 of these rules in the order, if the change in the borrowing rate stems from changes in the base interest rate (Rigibor/Libor, Euribor or others), and information about new loan rate variable part is publicly available, including on the premises of the grantor.
66. If by the consumer and the grantor of credit contract for current account opening with the possibility that the consumer has the right to use funds which exceed the current balance in the consumer's current account or the excess credit granted to the consumer credit provider regularly provide information on the borrowing rate, the application of the provisions of this rate, the base rate applicable to the initial borrowing rate, crediting the conclusion of the contract the applicable costs and conditions under which those costs may change if change is cost. This information shall be provided on paper or on another durable medium.
67. In the case of credit contract under which the employer credits silent agreed that the consumer use the funds which exceed the current balance in the consumer's current account or the excess credit granted significant exceedance event, lasting more than one month, the grantor shall immediately inform the consumer on paper or on another durable medium, the amount of the excess, applicable borrowing rate and any applicable penalty or other compensation for non-performance of contractual obligations, or the improper performance of , costs, or interest on arrears.
68. If the credit grantor assigns the claims arising from the credit agreement, to a third party, the grantor shall inform the consumer about the assignment, except if the original credit, employer who has entered into an agreement with the assignee, continues to service the credit to the consumer or the lending contract concluded, in accordance with the credit of tacit consent that a consumer uses the funds which exceed the current balance in the consumer's current account or the excess credit granted.
IX. early repayment of credit 69. the consumer is obliged to pay interest and taxes only for the period during which the consumer has fully settled its credit obligations under the credit agreement.
70. For the exercise of the right to meet credit obligations before the due date the consumer shall inform the grantor of credit. The parties are entitled to agree lending agreement on the period within which the consumer must make credit management information.
71. the employer is not entitled to claim compensation on credit obligations before the due date, with the exception of those rules specified in paragraph 72.
72. If the loan is repaid in advance during the period in respect of which the lending agreement has fixed borrowing rate, the credit grantor is entitled to fair and objectively justified compensation for possible costs directly linked to early repayment of credit. Such compensation may not exceed: 72.1.  1% of the loan amount that is repaid early, if the period of time between the early repayment and credit contract the day of expiry of up to one year;
72.2.0.5% from the amount of credit repaid early, if the period of time between the early repayment and the lending contract expires in less than one year.
73. the employer is not entitled to claim this rule 72, paragraph compensation for early repayment if: 73.1. amount repaid before the expiry of the 12-month period does not exceed LVL 7000;
73.2. repayments made under an insurance contract intended to guarantee repayment of the loan;
73.3. repayments made under the credit agreement for overshoot;
45.6. the repayment was made during the period in respect of which no fixed borrowing rate.
74. the compensation required in accordance with the provisions of paragraph 72, may not exceed the amount of interest the consumer would have paid during the period between the early repayment and the agreed date of carrying out the lending contract expiration day.
75. This provision, 72, 73 and 74 of the type referred to in paragraph 1 does not apply to credit contracts:

75.1. concluded the credit's possession as security for a candidate for a real thing and the consumer's responsibility is limited to the mortgaged estate Affairs;
75.2. providing that the consumer credit has to be repaid within a period not exceeding three months, and under which the use of the credit is required for the additional duty compared with the total amount of credit and lending contract period;
75.3. which credit and consumer agree on a repayment order, if the consumer has not fulfilled the original credit agreement, and this avoid possible court proceedings for consumer lending obligations laid down in the Treaty, as well as the consumer would not thereby be subject to terms less favourable than those laid down in the original consumer lending agreement.
X. open-ended lending termination of contract 76. consumers shall have the right in accordance with the procedures laid down in the Treaty free of an open-end credit agreement at any time, unless the parties have agreed on a period of notice. Such a period may not exceed one month.
77. If agreed in the credit agreement on the lending employer is entitled: 77.1. in accordance with the procedures laid down in the Treaty of an open-end credit agreement, at least two months in advance by submitting a notice to the consumer on paper or on another durable medium, agreed between the parties in the contract the lending;
77.2. objectively justified reasons terminate the consumer's right to use an open-end credit agreement, if possible, before or immediately after the cessation of informing the consumer of such termination and the reasons for it on paper or on another durable medium, agreed between the parties in the contract, unless the credit provision of such information is prohibited by other directly applicable European Union legislation or other European Union legislation in accordance with the Treaty on the functioning of the European Union to be implemented in national law, or is contrary to objectives of public policy or public security.
78. the requirements referred to in this chapter do not apply excess credit that must be repaid on demand or within three months, and lending contracts, under which the employer credits silent agreed that the consumer use the funds which exceed the current balance in the consumer's current account or the excess credit granted.
XI. obligations of credit intermediaries 79. Credit intermediary in advertising and documentation intended for consumers the extent of his power point, as well as whether he works with one or more employers or credit acts as an independent broker.
80. The fee payable by the consumer to the credit intermediary for his services provided (if any is payable), the mediator shall notify the consumer, and the consumer and the credit intermediary so agree before lending to the conclusion of the contract on paper or on another durable medium. "
81. The fee payable by the consumer to the credit intermediary for his services provided (if any is payable), the credit intermediary shall notify the employer of the credit, to be able to calculate the annual percentage rate of charge.
82. Chapters IV and V of these regulations shall not apply to manufacturers, sellers or service providers, acting as credit intermediaries in an ancillary capacity. In this case, the credit is the responsibility of the employer to ensure that the consumer receive these provisions in chapter IV and V, the information to be provided to the consumer prior to the conclusion of the contract.
XII. concluding issues 83. Be declared unenforceable in the Cabinet's august 25, 2008, Nr. 692, the provisions of the "rules for consumer lending agreement" (Latvian journal, 2008, 134 no).
84. This provision IV, V, VI and VII requirements come into force on May 1, 2011. Until 1 May 2011 consumer credit contract shall specify the information according to the Cabinet's august 25, 2008, no. 692 of the provisions of the "rules for consumer lending agreement" (Latvian journal, 2008, 134 no). 17, 18, 19, 20, 21, 22, 23, 24 and 26.
85. The provisions referred to in paragraph 56 of the requirement to take the hand counting of securities in electronic form according to the above criteria laid down in paragraph 1 shall enter into force on January 1, 2012. Until 31 December 2011 records pursuant to this rule 55, 57, 58 and 59 of the type referred to in paragraph 1 using caurauklot, stamped log with numbered pages or in electronic form.
86. These provisions shall not apply to credit contracts concluded before the entry into force of the rules, except that rule 62, 63, 64, 65, 66, 67, 68, 76 and 77, which apply to open-end credit agreements existing at the date of entry into force of the provisions.
87. the provisions applicable to January 1, 2011.
Informative reference to European Union Directive provisions included in the law arising from the European Parliament and of the Council of 23 April 2008. Directive 2008/48/EC on credit agreements for consumers and repealing Council Directive 87/102/EEC. 
The Prime Minister, regional development and local Government Minister v. Economic Minister Dombrovskis a. camphor annex 1: Cabinet of Ministers of 28 December 2010 regulations No 1232 year interest rate method of calculating the annual percentage rate calculation method 1. laying down the Basic annual interest rate expressed in the equivalence and the period between the existing loan, on the one hand, and the total cost of the existing repayments and value, of the other part is this: where X-the annual percentage rate of charge;
m – the cost of the total number of credit;
k – the specific costs of the credit sequence number, so £ 1 k to £ m; Ck-k of credit payable;
TK-interval, expressed in years and fractions of a year between the first credit payment date and each of the next credit tranche, so t1 = 0;
m '-repayment or payment of the cost of the total number;
l-a specific payment or cost payment sequence number;
DL-payment or payment of costs;
SL-interval, expressed in years and fractions of a year between the date of the first drawdown and repayment of each loan payment or the cost payment date.
2. the calculation of the annual percentage rate of charge, the following shall be taken into account: 2.1. amounts paid by both parties at different times may vary, and they can be paid in different time intervals;

2.2. the interest rate calculation start date is the first day of the part of the cost of the credit;
2.3. intervals between dates used in the calculations, find in years or in fractions of a year, about a year assuming 365 days a year with the standard (or 366 days for leap years), 52 weeks or 12 equal months (the same month have 30.41666 days (365/12) regardless of whether it is a leap year);
2.4. the result of the calculation to be expressed with an accuracy of at least one decimal place after the decimal point (if the second decimal is 5 or greater, the first decimal to round up);
2.5. this annex referred to in paragraph 1 of the annual percentage rate calculation equation can be modified using a single sum and the concept of flows (Ak), which will be positive or negative (either paid or received during periods 1 to k, expressed in years): that's – current flow balance. If the goal is to keep the flow of the equivalence, its value will be zero.
3. the calculation of the annual percentage rate of charge, can be used the following additional assumptions: 3.1 if the lending contract granted to the consumer freedom of drawdown, the total amount of credit shall be deemed to be drawn down immediately and in full;
3.2. If the credit agreement provides different ways of credit costs with different charges or borrowing rates, the total amount of credit shall be deemed to have been removed with the highest charge and borrowing rate applied to the most common types of credit costs to a particular lending contract;
3.3. If the credit agreement, the consumer freedom of drawdown in General, but different ways of drawdown, a limitation provided for in relation to the amount and period of time, the total amount of credit shall be deemed to be drawn down in the past by crediting date and in accordance with the drawdown limits;
3.4. If a credit agreement provides for a fixed timetable for repayment, it is assumed that the credit is granted for one year and will be repaid in 12 equal instalments with an interval of one month;
3.5. If the credit agreement provides for a fixed loan repayment schedule, but the drawback amount is changed, the amount of each repayment shall be considered below the amount provided for in the contract;
3.6. If the one lending unless otherwise specified in the contract, and it provides several payment dates, it can be assumed that the credit made available and payments are made in the contract of lending a shorter period;
3.7. If the parties have not yet agreed on the maximum amount of the credit, to a maximum of 1050 pounds is considered;
3.8 excess (overdraf) lending agreements the total amount of credit shall be considered paid in full and for the whole lending period specified in the contract. If the lending contract duration is determined, the annual percentage rate is calculated on the assumption that the credit must be repaid within three months;
3.9. If individual lending for the period of the contract or the individual loan amount applied to the different interest rates and the cost of the annual percentage rate calculation uses a higher interest rate and the cost of all lending during the term of the contract;
3.10. the lending contracts that fixed borrowing rate is set only for lending the original of the contract at the end of the period during which a new borrowing rate is determined and can further be periodically reviewed according to the indicators agreed between the parties in the contract, the annual lending rate is calculated based on the assumption that the borrowing rate, fixed at the end of the period of the borrowing rate is the same as for calculating the annual percentage rate, based on the value of the indicator at a given time agreed between the parties lending agreement.
Economic Minister a. camphor annex 2 Cabinet of 28 December 2010 regulations No 1219 standard European consumer credit economy Minister a. camphor annex 3 of the Cabinet of Ministers of 28 December 2010 the regulations No. 1219 of the European consumer credit information for excess credits, members of the Organization of the benefit granted credit or lending agreements, initial lending contract obligations economic Minister a. camphor