French Monetary and Financial Code
In forceI. - Payment institutions are required to make available to their customers and to the public, on paper or on another durable medium, the general terms and conditions and charges applicable to transactions relating to the management of an account referred to in article L. 522-4, in accordance with the procedures laid down by an order of the Minister responsible for the economy.
II. - Before the Payment Service User is bound by a framework contract or a payment service offer, the Payment Service Provider shall provide him on paper or on another durable medium with the information and conditions referred to in Article L. 314-12. The payment service provider may fulfil this obligation by providing the user with a copy of the draft framework contract.
If, at the customer's request, the framework contract is concluded by a means of distance communication that does not enable the payment institution to comply with the previous paragraph, the latter shall fulfil its obligations immediately after the conclusion of the framework contract for payment services.
III. - When an account as defined in Article L. 522-4 is opened, acceptance of the framework payment services contract is formalised by the signature of the account holder(s).
IV. - Any proposed amendment to the framework contract for payment services shall be provided to the customer on paper or on another durable medium no later than two months before the date proposed for its entry into force.
In accordance with the arrangements set out in the framework contract for payment services, the payment service provider shall inform the customer that he is deemed to have accepted the amendment if he has not notified the customer before the proposed date of entry into force of the amendment that he does not accept it; in this case, the payment service provider shall also specify that, if the customer refuses the proposed amendment, he has the right to terminate the framework contract, free of charge, before the proposed date of entry into force of the amendment.
V. - The customer may terminate the payment services framework contract at any time, unless a contractual notice period of no more than thirty days is stipulated.
After six months, the Framework Agreement for Payment Services may be terminated free of charge.
In other cases, the costs of termination must be proportionate to the costs incurred by such termination.
The payment service provider shall terminate a framework contract for payment services concluded for an indefinite period by giving at least two months' notice on paper or on another durable medium. The costs regularly charged for the provision of payment services are payable by the customer only on a pro rata basis for the period that has elapsed at the date of termination of the framework payment services contract; if they have been paid in advance, these costs are reimbursed on a pro rata basis.
VI. - For each payment transaction referred to in Article L. 314-2 covered by a framework payment services contract and ordered by the payer, the payment service provider shall provide him, at his request, with information on paper or on another durable medium on the maximum execution time for this specific transaction, the charges he must pay and, where applicable, details of these charges.
