Common use of STATEMENT OF RIGHT TO CANCEL Clause in Contracts

STATEMENT OF RIGHT TO CANCEL. The Credit Contracts and Consumer Finance Act 2003(as amended from time to time) gives you a right for a short time after the terms of this contract have been disclosed to you to cancel the contract. How to cancel If you want to cancel you must give written notice to the creditor. You must also return to the creditor any advance and any other property received by you under the contract Time limits for cancellation If the disclosure documents are handed to you directly you must give notice that you intend to cancel within 5 working days after you receive the documents. If the disclosure documents are sent to you by electronic means (for example, email) you must give notice that you intend to cancel within 5 working days after the electronic communication is sent. If the disclosure documents are mailed to you, you must give the notice within 7 working days after they were posted. Saturdays, Sundays, and national public holidays are not counted as working days. What you may have to pay if you cancel If you cancel the contract the creditor can charge you (a) The amount of any reasonable expenses the creditor had to pay in connection with the contract and its cancellation (including legal fees and fees for credit reports, etc) and (b) Interest for the period from the day you received the advance until the day you repay the advance. This statement only contains a summary of your rights and obligations in connection with the right to cancel. If there is anything about your rights or obligations under the Credit Contracts and Consumer Finance Act 2003(as amended from time to time) that you do not understand, if there is a dispute about your rights, or if you think that the creditor is being unreasonable in any way, you should seek legal advice immediately. Payer Details To the manager AUTHORITY FOR AUTOMATIC PAYMENTS Not to operate as an assignment or an agreement Important – Please Tick Name of Bank .............................................................................. X This is a new authority, or Branch .............................................................................. As from / / (first payment date, this authority replaces existing Name of Account .............................................................................. authorities for $ in favour of the same p ay ee Account Details On behalf of (name if other than payer) ....................................................................................... Bank/Branch/Account Number/Suffix Details to appear on my/our bank statement Particulars (max 12 characters) Code (max 12 characters) Reference (max 12 characters) Frequency and Amount First payment date Last Payment Date OR Until further notice (tick) Frequency: Weekly Fortnightly Four Weekly Monthly Or Specify other period .................................. Fixed amount Amount in words Complete if applicable (one option only): Variable Amount First Last Payee Details Bank/Branch/Account Number/Suffix 0 6 0 5 1 3 0 2 8 1 6 9 6 0 0 4

STATEMENT OF RIGHT TO CANCEL. The Credit Contracts and Consumer Finance Act 2003(as amended from time to time) gives you a right for a short time after the terms of this contract have been disclosed to you to cancel the contract. How to cancel If you want to cancel you must give written notice to the creditor. You must also return to the creditor any advance and any other property received by you under the contract Time limits for cancellation If the disclosure documents are handed to you directly you must give notice that you intend to cancel within 5 working days after you receive the documents. If the disclosure documents are sent to you by electronic means (for example, email) you must give notice that you intend to cancel within 5 working days after the electronic communication is sent. If the disclosure documents are mailed to you, you must give the notice within 7 working days after they were posted. Saturdays, Sundays, and national public holidays are not counted as working days. What you may have to pay if you cancel If you cancel the contract the creditor can charge you (a) The amount of any reasonable expenses the creditor had to pay in connection with the contract and its cancellation (including legal fees and fees for credit reports, etc) and (b) Interest for the period from the day you received the advance until the day you repay the advance. This statement only contains a summary of your rights and obligations in connection with the right to cancel. If there is anything about your rights or obligations under the Credit Contracts and Consumer Finance Act 2003(as amended from time to time) that you do not understand, if there is a dispute about your rights, or if you think that the creditor is being unreasonable in any way, you should seek legal advice immediately. Payer Details To the manager AUTHORITY FOR AUTOMATIC PAYMENTS Not to operate as an assignment or an agreement Important – Please Tick Name of Bank .............................................................................. X This is a new authority, or Branch .............................................................................. As from / / (first payment date, this authority replaces existing Name of Account .............................................................................. authorities for $ in favour of the same p ay ee Account Details On behalf of (name if other than payer) ....................................................................................... Bank/Branch/Account Number/Suffix Details to appear on my/our bank statement Particulars (max 12 characters) Code (max 12 characters) Reference (max 12 characters) Frequency and Amount First payment date Last Payment Date OR Until further notice (tick) Frequency: Weekly Fortnightly Four Weekly Monthly Or Specify other period .................................. Fixed amount Amount in words Complete if applicable (one option only): Variable Amount First Last Payee Details Bank/Branch/Account Number/Suffix 0 6 0 5 1 3 0 2 8 1 6 9 6 0 0 4Details