(b) a significant agreement within the meaning of Article 9(4) in which the consumer is a legal person whose annual assets or turnover are below the threshold set by the Minister in accordance with Article 7(1) at the time of conclusion of the contract; If the agreement is a “grand agreement” with respect to Section 9(4) of the ACA, the CBA does not apply to the transaction, regardless of the consumer`s annual assets or turnover. A prior declaration is a document indicating the terms of the credit agreement that the creditor wishes to obtain with the consumer. Home ” Banking and Financial Law ” The preparation of credit agreements taking into account the National Credit Act Customers who entered into credit agreements before the entry into force of the NCA are influenced by the NCA by a change in service fees. Some fees that were common (for example.B. Pre-payment or management fees cannot be collected under the CBA. When an existing customer changes a contract or requests other credits, they are subject to the NCA and an accessibility check is performed for the subsequent credit application. 4. A credit agreement is a contract of great importance if it is – If the asset or annual turnover does not exceed the threshold, the next important consideration concerns the nature of the contract that is concluded. For a credit provider who does not wish to be burdened by the application of the CAS to its transactions, these categories are a descending order of preference. Therefore, many credit providers strive to ensure that they build transactions that are not defined by the NCA of the credit agreement or that maintain that their existing transactions are not credit agreements. However, credit providers who wish to benefit financially from the payment deferral transaction have the opportunity to be satisfied with full compliance with the ACA. The question then arises as to whether the guarantee or guarantee contract concluded by the credit provider and the guarantor/guarantor is within the scope of the ACA. The new zero registration threshold for credit providers came into effect on 11 November 2016 (see press release 39981 of 11 May 2016).
The question that arises is whether or not anyone involved in lending funds should register with the National Credit Regulator (NCR) as a lender. Account should be taken of Section 40 of the National Credit Act (NCA), which provides for the registration of a lender if the total principal debt owed exceeds the threshold set by the Minister of Trade and Industry. A deviation from this threshold is not allowed, despite a different agreement between the creditor and the credit consumer. Where it is established that a consumer is a legal person under the ACA, it is necessary to consider the assets or annual turnover of the legal person (the combined asset or annual turnover of all related legal persons, at the time when the agreement is to be taken into account). The NCA explicitly defines a “major agreement” – The ACA does not apply to a material agreement between the bank and a consumer who is a legal entity whose annual assets or turnover meet or exceed a threshold of 1m at the time of the agreement. A credit agreement is a contract between a creditor and a consumer in which the creditor provides goods or services or lends money to consumers. (a) a mortgage contract; or (b) any other credit transaction, with the exception of a pledge transaction or a credit guarantee, and the principal debt in connection with that operation or guarantee is greater than or greater than the thresholds set out in point (b) of Section 7(1). Only a court can declare an agreement ruthless at the request of the debtor advisor or the consumer. . . .