Common use of Deferred payment financing Clause in Contracts

Deferred payment financing. credit charges on purchases made by way of deferred payment financing are calculated from the payment due date shown on the account statement, until such purchases are paid in full. If the total amount of a purchase made by way of deferred payment financing is not paid in full on the due date shown on the account statement, it is automatically converted into a purchase by way of equal instalments financing, repayable by equal consecutive monthly payments (“converted balance”) as to principal and credit charges at the annual interest rate for the equal instalments financing plan offered by the merchant in effect at the date of conversion, by way of 12 equal monthly balance if the converted balance is less than $1,000, by way of 24 equal monthly payments if the converted balance is equal to or greater than $1,000 and less than $3,000, or by way of 36 equal monthly payments if the converted balance is equal to or greater than $3,000. Notice to this effect showing the number of payments and the monthly amount of the converted balance resulting from the conversion from deferred payment financing to equal instalments financing will be sent to the cardholder at least 30 days before the first payment due date. If, between the notice date and the due date shown on the account statement, the cardholder makes a partial payment only of a purchase made by way of deferred payment financing, the unpaid balance of such deferred purchase will be payable according the monthly amount set for the converted balance as shown on the notice until the balance is paid in full.

Deferred payment financing. credit charges on purchases made by way of deferred payment financing are calculated from the payment due date shown on the account statement, until such purchases are paid in full. If the total amount of a purchase made by way of deferred payment financing is not paid in full on the due date shown on the account statement, it is automatically converted into a purchase by way of equal instalments financing, repayable by equal consecutive monthly payments (“converted balance”) as to principal and credit charges at the annual interest rate for the equal instalments financing plan offered by the merchant in effect at the date of conversion, by way of 12 equal monthly balance payments if the converted balance is less than $1,000, by way of 24 equal monthly payments if the converted balance is equal to or greater than $1,000 and less than $3,000, or by way of 36 equal monthly payments if the converted balance is equal to or greater than $3,000. Notice to this effect showing the number of payments and the monthly amount of the converted balance resulting from the conversion from deferred payment financing to equal instalments financing will be sent to the cardholder at least 30 days before the first payment due date. If, between the notice date and the due date shown on the account statement, the cardholder makes a partial payment only of a purchase made by way of deferred payment financing, the unpaid balance of such deferred purchase will be payable according to the monthly amount set for the converted balance as shown on the notice until the balance is paid in full.

Deferred payment financing. credit Credit charges on purchases made by way of deferred payment financing are calculated from the payment due date shown on the account statementstatement of account, until such purchases are paid in full. If the total amount of a purchase made by way of deferred payment financing is not paid in full on the due date shown on the account statementstatement of account, it is automatically converted into a purchase by way of equal instalments financing, repayable by equal consecutive monthly payments (“converted balancepayments”) as to principal and credit charges at the annual interest rate for the equal instalments financing plan offered by the merchant in effect at the date of conversion, by way of 12 equal monthly balance payments if the converted balance payment is less than $1,000, by way of 24 equal monthly payments if the converted balance payment is equal to or greater than $1,000 and less than $3,000, or by way of 36 equal monthly payments if the converted balance payment is equal to or greater than $3,000. Notice to this effect showing the number of payments and the monthly amount of the converted balance payment resulting from the conversion from deferred payment financing to equal instalments financing will be sent to the cardholder at least 30 days before the first payment due datedate for such equal payment financing. If, between the notice date and on or before the due date shown on the account statementstatement of account, the cardholder makes a partial payment only of on a purchase made by way of deferred payment financing, the unpaid balance of such deferred purchase will be converted to equal instalments financing and will be payable according at the monthly amount set for the converted balance payment as shown on the notice until the balance is paid in full. Annual interest rate: will vary depending on the financing plan offered by the merchant, up to a maximum of 19.9%.

Deferred payment financing. credit Credit charges on purchases made by way of deferred payment financing are calculated from the payment due date shown on the account statementstatement of account, until such purchases are paid in full. If the total amount of a purchase made by way of deferred payment financing is not paid in full on the due date shown on the account statementstatement of account, it is automatically converted into a purchase by way of equal instalments financing. The amount in then, repayable by equal consecutive monthly payments (“converted balance”) as to principal and credit charges (“converted amount”) at the annual interest rate for the equal instalments financing plan offered by the merchant in effect at the date of conversion, by way of 12 equal monthly balance payments if the converted balance amount is less than $1,000, by way of 24 equal monthly payments if the converted balance amount is equal to or greater higher than $1,000 and less than $3,000, or by way of 36 equal monthly payments if the converted balance amount is equal to or greater than $3,000. Notice to this effect showing the number of payments and the monthly payment amount to be made as a result of the converted balance resulting from the conversion from deferred payment financing to equal instalments financing will be sent to the cardholder at least 30 days before the first payment due date. If, between the notice date and on or before the due date shown on the account statementstatement of account, the cardholder makes a partial payment only of on a purchase made by way of deferred payment financing, the unpaid balance of such deferred purchase will be converted to equal instalments financing and will be payable according at the monthly amount set for the converted balance payment as shown on the notice until the balance is paid in full. Annual interest rate: will vary depending on the rate applicable to this use of credit at the time of conversion, up to a maximum of 21.9%.