Common use of Disclosures required Clause in Contracts

Disclosures required. Prior to the execution of a retail installment contract, the seller shall provide to a buyer, and obtain the buyer's signature on, a written disclosure that sets forth the following information: (1) a description and the total price of all items sold in the following categories if the contract includes a charge for the item: (i) a service contract; (ii) an insurance product; (iii) a debt cancellation agreement; (iv) a theft deterrent device; or (v) a surface protection product; (2) the amount that would be calculated under the contract as the regular installment payment if charges for the items referenced under clause (1) are not included in the contract; (3) the amount that would be calculated under the contract as the regular installment payment if charges for the items referenced under clause (1) are included in the contract; and (4) the disclosures required under this subdivision must be in at least ten-point type and must be contained in a single document that is separate from the retail installment contract and any other vehicle purchase documents.

Disclosures required. Prior to the execution of a retail installment contract, the seller shall provide to a buyer, and obtain the buyer's signature on, a written disclosure that sets forth the following information: (1) a description and the total price of all items sold in the following categories if the contract includes a charge for the item: (i) a service contract; (ii) an insurance product; (iii) a debt cancellation agreement; (iv) a theft deterrent device; or (v) a surface protection product; (2) the amount that would be calculated under the contract as the regular installment payment if charges for the items referenced under clause (1) are not included in the contract; (3) the amount that would be calculated under the contract as the regular installment payment if charges for the items referenced under clause (1) are included in the contract; and (4) the disclosures required under this subdivision must be in at least ten-point type and must be contained in a single document that is separate from the retail installment contract and any other vehicle purchase documents.