Breakdown of total cost of credit
The contract of consumer credit also should include a detailed list of all the elements that make up the total cost of the same and included in calculating the Annual Percentage Rate (except those which apply in the case of any failure or delay from the client).
Insurance
If the granting of credit is the provision of insurance required (e.g. depreciation of death, disability, illness or unemployment of the head) must be made on the total cost, if they force payments. It should also be specified coverage.
Formalization
We must formalize a copy for each party involved in the contract.
Amendments to the contract
The contract should include the following and if not should be reflected in an annex:
The nullity of any amendment affecting the rights consummated. Los corresponding to each of the parties and the procedure in accordance with possible changes.
The differential applied to the benchmark used if it is necessary to calculate a new cost.
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