of July 12, 2013 No. 202
About credit agreements with consumers
The parliament adopts this organic law.
This law creates the legal basis for application of provisions of the Directive No. 2008/48/EU of the European Parliament and the EU Council of April 23, 2008 about agreements of consumer crediting and cancellation of the Directive of the EU Council 87/102/EEC published in the Official magazine of the European Union No. L133/66 of May 22, 2008.
The purpose of this law is development of the legal base necessary for ensuring protection of economic consumer interests by creation of fair conditions for receipt of consumer loans, and also by setting standards of responsible behavior of creditors in case of loan granting to consumers.
(1) the Field of regulation of this law are credit agreements with consumers.
a) the employment contract or the agreement of operational leasing according to which the obligation of acquisition of the subject of the agreement is not established by either the agreement, or any separate agreement; such obligation is considered established if it is accepted the creditor unilaterally;
c) credit agreements based on which the credit is issued without percent and without any other payments;
d) credit agreements with repayment period three months on which only the payment providing interest payment in the amount of is made, not exceeding the benchmark interest rate established by National Bank of Moldova for date of loan granting;
e) credit agreements according to which loan is granted by the employer to the workers as additional service without percent or with the actual annual interest rate below market and it is not provided to persons who are not his workers;
f) the credit agreements signed with investment societies with the purpose to allow the investor to make the transaction connected with one or several financial instruments according to the legislation on the capital market;
g) the credit agreements which are result of the decision passed by degree of jurisdiction or other body created according to the law;
h) the credit agreements connected with free payment deferral on the existing debt;
i) the credit agreements connected with the loans granted to the limited group of people based on the provision of general nature provided by the law, on interest rates, lower, than regular market, either without percent, or on conditions, more profitable to consumers, than regular market, and with lower, than practiced in the market regularly, interest rates;
j) the credit agreements signed by savings and loan associations.
(3) in case of credit agreements in the form of crediting of the account (overdraft) according to which the credit shall be repaid upon the demand of or within three months provisions of Articles 1-3, of part (1), Items a) – c are applied) parts (2) and parts (4) Articles 4, parts (1) – (3) Articles 6, Articles 7-9, of parts (1) and (3) Articles 10, Articles 16, 19, 21 and 23-27.
(5) provisions of Articles 1-4, 6, of 7, of 9, of part Are applied (1) and Items a) – i), l) and r) parts (3) Articles 10, Articles 11, 17, 20 and 22-27 in case of credit agreements which provide coordination of the creditor with the consumer of some formalities concerning payment deferral or payment methods when the consumer already violated obligations of the initial credit agreement and if:
a) such formalities are capable to prevent need of presentation of claims in degree of jurisdiction in connection with this violation;
b) the consumer thereby will not shall comply with less favorable contractual conditions, than established in the initial credit agreement.
(6) In case the credit agreements provided in part (5), fall under action of part (3), only part provisions are applied (3).
For the purpose of this law the following basic concepts are used in value:
creditworthness of the consumer – capability of the consumer to repay the credit according to the credit agreement, including percent and the accompanying payments in time;
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