§ 3-29. Information about credit assessment
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The text of the law (unofficial translation)
§ 3-29. Information about credit assessment
- that a credit assessment will be carried out, including by searching relevant databases
- the right to be notified of the result of a database search when the service is refused on the basis of a database search
- any condition that correct and complete information and documentation necessary to carry out the credit assessment is provided within the set time limit, and whether the service provider reserves the right to cancel the agreement if incorrect information has been provided through fraud.
What does this mean?
The section concerns information about credit assessment, that is, the service provider's check of whether the customer can repay a credit. The customer must be told that an assessment will be made, including by searching databases, and that the customer has the right to be notified of the result when a database search leads to a refusal. The customer must also be told that correct and complete information must be provided within the time limit, and that the service provider can cancel the agreement if the customer has fraudulently provided incorrect information.
The section is the last in the series of information rules from § 3-24 to § 3-29. The duty to provide information in connection with the credit assessment itself also has a separate rule in § 5-3.