Common use of Right of Withdrawal Clause in Contracts

Right of Withdrawal. 4.1. You have the right to withdraw from the Credit Agreement within 14 days from the conclusion of the Credit Agreement or when you receive the Mandatory Information in a durable medium in accordance with section 118 of the Consumer Credit Act, if this is later. You are not obliged to indicate a reason for withdrawal. 4.2. The Mandatory Information under the above section refers to: 1. the type of credit 2. the identity and address of the parties, as well as of any credit intermediary; 3. the duration of the Credit Agreement; 4. the total amount of the credit and conditions governing drawdown; 5. the borrowing rate. The indication of the borrowing rate must include the conditions and the period for its application and the way it is to be adjusted. Where the borrowingrate is dependent on an index or reference rate, these must be indicated. If the Credit Agreement provides for several borrowing rates, the information must be given for all of them. 6. the annual percentage rate of charge; 7. the total amount payable 8. As regards points 6 and 7: the indication of the annual percentage rate of charge and the total amount payable must be stated, specifying the assumptions that are known atthe time the Credit Agreementis concluded and that are used in the calculation of the annual percentage rate of charge. 9. the amount, number and frequency of repayments. If partial payments are planned, it must be stated in which order the outstanding claims of the creditor for the different borrowing rates apply, through which partial payments are repaid. 10. in the case of a capital amortisation of a Credit aAgreement with a fixed term, an indication of the borrower's right to receive a repayment schedule free of charge at anytime during the entire term of the loan The amortisation table shall indicate the payments owing and the periods and conditions relating to the payment of such amounts; the table shall contain a breakdown of each repayment showing capital amortisation, the interest calculated on the basis of the borrowing rate and, where applicable, any additional costs; where the interest rate is not fixed or the additional costs may be changed under the Credit Agreement, the amortisation table shall indicate, clearly and concisely, that the data contained in the table will remain valid onlyuntil such time as the borrowing rate or the additional costs are changed in accordancewith the Credit Agreement; 11. if charges and interest are to be paid without capital amortisation, a statement showingthe periods and conditions for the payment of the interest and of any associated recurrent and non-recurrent charges; 12. where applicable, the charges for maintaining one or several accounts recording both payment transactions and drawdowns, unless the opening of an account is optional, together with the charges for using a means of payment for both payment transactionsand drawdowns, and any other charges deriving from the Credit Agreement and the conditions under which those charges may be changed; 13. the interest rate applicable in the case of late payments as applicable at the time of the conclusion of the Credit Agreement and the arrangements for its adjustment and, where applicable, any other consequences of default; 14. a warning about the consequences of missing payments; 15. the existence of a right of withdrawal, the period and other circumstances for declaring withdrawal, and an indication of the borrower's obligation to repay the credit already disbursed and to pay interest; the amount of interest payable per day must be indicated; 16. the right of early repayment, the procedure for early repayment, as well as, where applicable, information concerning the creditor's right to compensation and the way in which that compensation will be determined; 17. the procedure to be followed for terminating the Credit Agreement; 18. whether or not there is an out-of-court complaint and redress mechanism for the consumer and, if so, the methods for having access to it 19. the name and address of the competent supervisory authority. 4.3. In case you wish to exercise the right of withdrawal you must notify Ferratum via email, post or phone call using the details provided above. The notice must include at least: (a) your name and ; (b) your identification code, (c) a statement showing an explicit intent to withdraw from the Credit Agreement, (d) the undertaking to repay the Credit together with accrued interest without undue delay and no later than thirty (30) running days from notification (e) your signature and (f) the date and place of signing. The term of 14 days is observed if the notice is dispatched within that term. 4.4. You must repay the Credit due together with nominal interest, as per the Credit Agreement, calculated from the day your received the Credit to the repayment date (date when Xxxxxxxx received full repayment) without undue delay, but not later than thirty (30) calendar days after giving the withdrawal notice.If you do not exercise the right to withdraw, you shall be bound by the terms and conditions of the Credit Agreement. If you exercise the right to withdraw, the Credit Agreement is considered not to have been concluded.

Right of Withdrawal. 4.1. You have the right to withdraw from the Credit Agreement within 14 days from the conclusion of the Credit Agreement or when you receive the Mandatory Information in a durable medium in accordance with section 118 of the Consumer Credit Act, if this is later. You are not obliged to indicate a reason for withdrawal. 4.2. The Mandatory Information under the above section refers to: 1. the type of credit 2. the identity and address of the parties, as well as of any credit intermediary; 3. the duration of the Credit Agreement; 4. the total amount of the credit and conditions governing drawdown; 5. the borrowing rate. The indication of the borrowing rate must include the conditions and the period for its application and the way it is to be adjusted. Where the borrowingrate is dependent on an index or reference rate, these must be indicated. If the Credit Agreement provides for several borrowing rates, the information must be given for all of them. 6. the annual percentage rate of charge; 7. the total amount payable 8. As regards points 6 and 7: the indication of the annual percentage rate of charge and the total amount payable must be stated, specifying the assumptions that are known atthe time the Credit Agreementis concluded and that are used in the calculation of the annual percentage rate of charge. 9. the amount, number and frequency of repayments. If partial payments are planned, it must be stated in which order the outstanding claims of the creditor for the different borrowing rates apply, through which partial payments are repaid. 10. in the case of a capital amortisation of a Credit aAgreement with a fixed term, an indication of the borrower's right to receive a repayment schedule free of charge at anytime during the entire term of the loan The amortisation table shall indicate the payments owing and the periods and conditions relating to the payment of such amounts; the table shall contain a breakdown of each repayment showing capital amortisation, the interest calculated on the basis of the borrowing rate and, where applicable, any additional costs; where the interest rate is not fixed or the additional costs may be changed under the Credit Agreement, the amortisation table shall indicate, clearly and concisely, that the data contained in the table will remain valid onlyuntil such time as the borrowing rate or the additional costs are changed in accordancewith the Credit Agreement; 11. if charges and interest are to be paid without capital amortisation, a statement showingthe periods and conditions for the payment of the interest and of any associated recurrent and non-recurrent charges; 12. where applicable, the charges for maintaining one or several accounts recording both payment transactions and drawdowns, unless the opening of an account is optional, together with the charges for using a means of payment for both payment transactionsand drawdowns, and any other charges deriving from the Credit Agreement and the conditions under which those charges may be changed; 13. the interest rate applicable in the case of late payments as applicable at the time of the conclusion of the Credit Agreement and the arrangements for its adjustment and, where applicable, any other consequences of default; 14. a warning about the consequences of missing payments; 15. the existence of a right of withdrawal, the period and other circumstances for declaring withdrawal, and an indication of the borrower's obligation to repay the credit already disbursed and to pay interest; the amount of interest payable per day must be indicated; 16. the right of early repayment, the procedure for early repayment, as well as, where applicable, information concerning the creditor's right to compensation and the way in which that compensation will be determined; 17. the procedure to be followed for terminating the Credit Agreement; 18. whether or not there is an out-of-court complaint and redress mechanism for the consumer and, if so, the methods for having access to it 19. the name and address of the competent supervisory authority. 4.3. In case you wish to exercise the right of withdrawal you must notify Ferratum via email, post or phone call using the details provided above. The notice must include at least: (a) your name and ; (b) your identification code, (c) a statement showing an explicit intent to withdraw from the Credit Agreement, (d) the undertaking to repay the Credit together with accrued interest without undue delay and no later than thirty (30) running days from notification (e) your signature and (f) the date and place of signing. The term of 14 days is observed if the notice is dispatched within that term. 4.4. You must repay the Credit due together with nominal interest, as per the Credit Agreement, calculated from the day your received the Credit to the repayment date (date when Xxxxxxxx Ferratum received full repayment) without undue delay, but not later than thirty (30) calendar days after giving the withdrawal notice.If you do not exercise the right to withdraw, you shall be bound by the terms and conditions of the Credit Agreement. If you exercise the right to withdraw, the Credit Agreement is considered not to have been concluded.

Right of Withdrawal. 4.1. You have the right to withdraw from the Credit Agreement within 14 days from the conclusion of the Credit Agreement or when you receive the Mandatory Information in a durable medium in accordance with section 118 of the Consumer Credit Act, if this is later. You are not obliged to indicate a reason for withdrawal. 4.2. The Mandatory Information under the above section refers to: 1. the type of credit 2. the identity and address of the parties, as well as of any credit intermediary; 3. the duration of the Credit Agreement; 4. the total amount of the credit and conditions governing drawdown; 5. the borrowing rate. The indication of the borrowing rate must include the conditions and the period for its application and the way it is to be adjusted. Where the borrowingrate borrowing rate is dependent on an index or reference rate, these must be indicated. If the Credit Agreement provides for several borrowing rates, the information must be given for all of them. 6. the annual percentage rate of charge; 7. the total amount payable 8. As regards points 6 and 7: the indication of the annual percentage rate of charge and the total amount payable must be stated, specifying the assumptions that are known atthe time the Credit Agreementis concluded and that are used in the calculation of the annual percentage rate of charge. 9. the amount, number and frequency of repayments. If partial payments are planned, it must be stated in which order the outstanding claims of the creditor for the different borrowing rates apply, through which partial payments are repaid. 10. in the case of a capital amortisation of a Credit aAgreement with a fixed term, an indication of the borrower's right to receive a repayment schedule free of charge at anytime any time during the entire term of the loan The amortisation table shall indicate the payments owing and the periods and conditions relating to the payment of such amounts; the table shall contain a breakdown of each repayment showing capital amortisation, the interest calculated on the basis of the borrowing rate and, where applicable, any additional costs; where the interest rate is not fixed or the additional costs may be changed under the Credit Agreement, the amortisation table shall indicate, clearly and concisely, that the data contained in the table will remain valid onlyuntil such time as the borrowing rate or the additional costs are changed in accordancewith the Credit Agreement; 11. if charges and interest are to be paid without capital amortisation, a statement showingthe showing the periods and conditions for the payment of the interest and of any associated recurrent and non-recurrent charges; 12. where applicable, the charges for maintaining one or several accounts recording both payment transactions and drawdowns, unless the opening of an account is optional, together with the charges for using a means of payment for both payment transactionsand transactions and drawdowns, and any other charges deriving from the Credit Agreement and the conditions under which those charges may be changed; 13. the interest rate applicable in the case of late payments as applicable at the time of the conclusion of the Credit Agreement and the arrangements for its adjustment and, where applicable, any other consequences of default; 14. a warning about the consequences of missing payments; 15. the existence of a right of withdrawal, the period and other circumstances for declaring withdrawal, and an indication of the borrower's obligation to repay the credit already disbursed and to pay interest; the amount of interest payable per day must be indicated; 16. the right of early repayment, the procedure for early repayment, as well as, where applicable, information concerning the creditor's right to compensation and the way in which that compensation will be determined; 17. the procedure to be followed for terminating the Credit Agreement; 18. whether or not there is an out-of-court complaint and redress mechanism for the consumer and, if so, the methods for having access to it 19. the name and address of the competent supervisory authority. 4.3. In case you wish to exercise the right of withdrawal you must notify Ferratum via email, post or phone call using the details provided above. The notice must include at least: (a) your name and ; (b) your identification code, (c) a statement showing an explicit intent to withdraw from the Credit Agreement, (d) the undertaking to repay the Credit together with accrued interest without undue delay and no later than thirty (30) running days from notification (e) your signature and (f) the date and place of signing. The term of 14 days is observed if the notice is dispatched within that term. 4.4. You must repay the Credit due together with nominal interest, as per the Credit Agreement, calculated from the day your received the Credit to the repayment date (date when Xxxxxxxx received full repayment) without undue delay, but not later than thirty (30) calendar days after giving the withdrawal notice.If you do not exercise the right to withdraw, you shall be bound by the terms and conditions of the Credit Agreement. If you exercise the right to withdraw, the Credit Agreement is considered not to have been concluded.

Right of Withdrawal. 4.1. You have the right to withdraw from the Credit Agreement within 14 days from the conclusion of the Credit Agreement or when you receive the Mandatory Information in a durable medium in accordance with section 118 of the Consumer Credit Act, if this is later. You are not obliged to indicate a reason for withdrawal. 4.2. The Mandatory Information under the above section refers to: 1. the type of credit 2. the identity and address of the parties, as well as of any credit intermediary; 3. the duration of the Credit Agreement; 4. the total amount of the credit and conditions governing drawdown; 5. the borrowing rate. The indication of the borrowing rate must include the conditions and the period for its application and the way it is to be adjusted. Where the borrowingrate borrowing rate is dependent on an index or reference rate, these must be indicated. If the Credit Agreement provides for several borrowing rates, the information must be given for all of them. 6. the annual percentage rate of charge; 7. the total amount payable 8. As regards points 6 and 7: the indication of the annual percentage rate of charge and the total amount payable must be stated, specifying the assumptions that are known atthe at the time the Credit Agreementis concluded and that are used in the calculation of the annual percentage rate of charge. 9. the amount, number and frequency of repayments. If partial payments are planned, it must be stated in which order the outstanding claims of the creditor for the different borrowing rates apply, through which partial payments are repaid. 10. in the case of a capital amortisation of a Credit aAgreement with a fixed term, an indication of the borrower's right to receive a repayment schedule free of charge at anytime any time during the entire term of the loan The amortisation table shall indicate the payments owing and the periods and conditions relating to the payment of such amounts; the table shall contain a breakdown of each repayment showing capital amortisation, the interest calculated on the basis of the borrowing rate and, where applicable, any additional costs; where the interest rate is not fixed or the additional costs may be changed under the Credit Agreement, the amortisation table shall indicate, clearly and concisely, that the data contained in the table will remain valid onlyuntil only until such time as the borrowing rate or the additional costs are changed in accordancewith accordance with the Credit Agreement; 11. if charges and interest are to be paid without capital amortisation, a statement showingthe showing the periods and conditions for the payment of the interest and of any associated recurrent and non-recurrent charges; 12. where applicable, the charges for maintaining one or several accounts recording both payment transactions and drawdowns, unless the opening of an account is optional, together with the charges for using a means of payment for both payment transactionsand transactions and drawdowns, and any other charges deriving from the Credit Agreement and the conditions under which those charges may be changed; 13. the interest rate applicable in the case of late payments as applicable at the time of the conclusion of the Credit Agreement and the arrangements for its adjustment and, where applicable, any other consequences of default; 14. a warning about the consequences of missing payments; 15. the existence of a right of withdrawal, the period and other circumstances for declaring withdrawal, and an indication of the borrower's obligation to repay the credit already disbursed and to pay interest; the amount of interest payable per day must be indicated; 16. the right of early repayment, the procedure for early repayment, as well as, where applicable, information concerning the creditor's right to compensation and the way in which that compensation will be determined; 17. the procedure to be followed for terminating the Credit Agreement; 18. whether or not there is an out-of-court complaint and redress mechanism for the consumer and, if so, the methods for having access to it 19. the name and address of the competent supervisory authority. 4.3. In case you wish to exercise the right of withdrawal you must notify Ferratum via email, post or phone call using the details provided above. The notice must include at least: (a) your name and ; (b) your identification code, (c) a statement showing an explicit intent to withdraw from the Credit Agreement, (d) the undertaking to repay the Credit together with accrued interest without undue delay and no later than thirty (30) running days from notification (e) your signature and (f) the date and place of signing. The term of 14 days is observed if the notice is dispatched within that term. 4.4. You must repay the Credit due together with nominal interest, as per the Credit Agreement, calculated from the day your received the Credit to the repayment date (date when Xxxxxxxx Ferratum received full repayment) without undue delay, but not later than thirty (30) calendar days after giving the withdrawal notice.If you do not exercise the right to withdraw, you shall be bound by the terms and conditions of the Credit Agreement. If you exercise the right to withdraw, the Credit Agreement is considered not to have been concluded.