§ 3-37. Information about lease financing
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The text of the law (unofficial translation)
§ 3-37. Information about lease financing
- the customer's right to give notice of termination
- the size of the rental payments and when they are to be paid
- where applicable, the sum of all costs per year for lease agreements that do not have a fixed duration, including rental payments and any additional charges etc.
- any cash price if the lessor also carries out regulated sales of the leased item.
What does this mean?
The section applies to lease financing, meaning the rental of an item that works as a form of financing. The customer (kunde) must be told about the right to give notice of termination (oppsigelse), how large the rental payments are and when they fall due, and any cash price if the lessor also sells the item. For lease agreements without a fixed duration, the annual cost must also be stated. Under § 3-22, the duty applies to consumer agreements of this type when the agreement lasts more than 30 days.
The section is part of the series of information rules in Chapter 3, together with § 3-36 on personal guarantees (kausjon) and § 3-38 on financial intermediation (finansoppdrag).