Grand-Ducal Regulation of 3 April 1996 supplementing the essential conditions to be included in consumer credit agreements

Art. 1.

The written agreement with minimum contents as determined in Article 5.2. of the law of 9 August 1993 on consumer credit shall also contain the following indications:

1. A statement of the amount, number and frequency, or the dates, of the payments that the consumer must make to repay the loan and pay the interest and other charges, as well as the total amount of the said payments where this is possible.

2. A statement of the cost elements referred to in Article 2 of the Grand-Ducal Regulation of 26 August 1993 determining the calculation method for the annual percentage rate, excluding costs pertaining to non-fulfilment of the contractual obligations, which are not included in the calculation of the annual percentage rate but for which the consumer is liable in certain circumstances, as well as a list of such circumstances. If the exact amount of such components is known, it shall be indicated; failing this, either a calculation method or the most realistic estimate possible shall be provided where this is possible.

Art. 2.

Our Minister of Justice is responsible for the implementation of this Regulation, which shall be published in the Mémorial.