§ 6-4. The guarantor's right to information
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The text of the law (unofficial translation)
§ 6-4. The guarantor's right to information
The guarantor may at any time demand that the lender (kredittyter) provide information about
- the current amount for which the guarantor is liable
- the interest rate and other credit costs (kredittkostnader) that apply in the credit relationship
- the results of any investigations the lender has carried out of the credit customer's ability to meet the obligations under the credit agreement (kredittavtale) or of the value of the security provided for the lender's claim and which is to be used before the guarantee liability.
What does this mean?
The section gives the guarantor an ongoing right to information. He can at any time ask the lender to tell him what he is currently liable for, which interest rate and which other costs apply, and what the lender's assessments of the borrower's ability to pay and of the security have shown. The provision follows the notification rules in § 6-2 and § 6-3, which give the guarantor information without him asking for it. Here, it is the guarantor who must take the initiative.