Common use of Annual Percentage Rate of Charge Clause in Contracts

Annual Percentage Rate of Charge. is the total cost of use of the Credit Amount for the Buyer (Interest, Contract Fee, Monthly Fee and other fees which are to be paid by the Buyer in connection with the Agreement and which are known to the Seller and/or the Factor at the time of entry into the Agreement), expressed as an annual percentage rate of the Credit Amount, and calculated based on the assumption that the Agreement will remain valid for the agreed period of time and that the Buyer will fulfil his obligations under the conditions and by the term set forth in the Agreement. Any costs and fees that cannot be determined by the Seller and/or the Factor at the time of entry into the Agreement, as well as the costs and fees to be paid by the Buyer upon breach of Agreement shall not be taken into account upon calculation of the Annual Percentage Rate of Charge. The Annual Percentage Rate of Charge has been presented for awareness purposes, is based on the contractual assumptions, and shall have no bearing on the contractual obligations and payable amounts. The calculation of the Annual Percentage Rate of Charge shall be governed by the formula established by the Minister of Finance of the Republic of Estonia, with the result rounded off to two digits after the decimal point.

Annual Percentage Rate of Charge. is the total cost of use of the Credit Amount for the Buyer (Interest, Contract Fee, Monthly Fee and other fees which are to be paid by the Buyer in connection with the Agreement Contract and which are known to the Seller and/or the Factor at the time of entry into the AgreementContract), expressed as an annual percentage rate of the Credit Amount, and calculated based on the assumption that the Agreement Contract will remain valid for the agreed period of time and that the Buyer will fulfil his obligations under the conditions and by the term set forth in the AgreementContract. Any costs and fees that cannot be determined by the Seller and/or the Factor at the time of entry into the AgreementContract, as well as the costs and fees to be paid by the Buyer upon breach of Agreement Contract shall not be taken into account upon calculation of the Annual Percentage Rate of Charge. The Annual Percentage Rate of Charge has been presented for awareness information purposes, is based on the contractual assumptionspreconditions established in the Contract, and shall have no bearing on the contractual obligations and payable amounts. The calculation of the Annual Percentage Rate of Charge shall be governed by the formula established by the Minister of Finance of the Republic of Estonia, with the result rounded off to two digits after the decimal point.