Section 4: Formation of the credit agreement

When the borrower wishes to make use of the option to substitute the insurance contract provided for in article L. 313-30 before the loan offer mentioned in article L. 313-24 is issued, the lender and the delegated insurer exchange the following information:
1° The lender shall send the delegated insurer, via the prospective borrower, on paper or on another durable medium, for each of the loans concerned, the following information:
a) The initial capital;
b) The amount of the loan; and a) The initial capital;

b) The initial term expressed in years b) The initial term expressed in months;
c) The nominal interest rate c) The nominal interest rate and whether it is fixed, variable or variable;
d) The amortisation schedules, expressed in months;
e) The repayment schedule, expressed in months. d) Amortisation schedules, where applicable projected, or the following information, where applicable projected: the number, amount and frequency of instalments to be repaid and, where applicable, the duration and nature of any grace periods and instalment steps;
e) The amount of charges, commissions, fees and other charges payable on the loan, including the amount of any interest payable on the loan. e) The amount of fees, commissions or remuneration mentioned in the first paragraph of article L. 314-1 ;
f) The desired effective date of the cover;
g) The types of cover required. g) The types of guarantees required and the proportion of the borrowed capital to be covered for the loan to be granted, guarantee by guarantee;
h) A reminder of the criteria used to determine the amount of the guarantee. h) A reminder of the criteria used to assess the equivalence of the level of cover referred to in article L. 313-29, by type of cover required, after analysing the personal situation of the loan applicant;
2° After the delegated insurer has undertaken to grant its guarantee, the delegated insurer sends the lender, on paper or on another durable medium, via the borrower, for each of the loans concerned, the following information:
a) The information required for calculating the amount of the guarantee, and a) The information required to calculate the annual percentage rate of charge for the loan on the basis of the guarantees required by the lender as referred to in g and h of 1°, the percentage insured per person and per type of guarantee and the amount insured per type of guarantee;

b) The total cost in euros over the period of the loan on the basis of the guarantees required by the lender as referred to in g and h of 1°. b) The total cost in euros over the term of the loan of the guarantees required by the lender in respect of the insurance, necessary for calculating the annual percentage rate of charge for the loan, and the schedule of insurance premiums;
c) The effective date, the number of days of the loan and the amount of insurance cover required by the lender for the loan. c) The effective date of the guarantees and the date on which they will cease to apply, where applicable;
d) The date on which the creditor and the borrower agree to take out the insurance. 3° The lender and the delegated insurer will send this information on paper or on another durable medium, mentioning their contact details and, for persons registered in the national register mentioned in article R. 123-220 of the French Commercial Code, their SIREN number;
4° Where the information covered by 1° or 2° is provided to the borrower by an intermediary referred to in article L. 519-1 of the Monetary and Financial Code, the latter shall indicate the information provided for in article R. 519-24 of the same code. Where this information is provided by an intermediary referred to in article L. 511-1 of the Insurance Code, the latter indicates the information provided for in article R. 520-3 of the same code.