Paragraph 9 Ending the agreementF1

Where the agreement is a hire-purchase or conditional sale agreement, a statement in the following form—

“You [may] have the right to end this agreement at any time before the final payment falls due.

This right may be lost if you do not act before the date shown (after which we may take action).

If the date for final payment has not passed and you wish to end this agreement, you should write to the person to whom you make your payments. [You will need to pay [insert amount] if you wish to end this agreement by the date shown and we will be entitled to the return of the goods. You will also be liable for costs if you have not taken reasonable care of the goods.]

If you end this agreement, this will not necessarily terminate any insurance finance agreements that are linked to this agreement.”

Notes:

1. 1)

   The creditor must omit the word “may” in square brackets in the case of a hire purchase agreement.

2. 2)

   The creditor must insert the sentence in square brackets where the debtor’s right to terminate under section 99 of the Act subsists.

3. 3)

   The creditor must insert the amount to be paid by the debtor in the place indicated, calculated in accordance with the provisions of sections 99(2) and 100 of the Act and on the assumption that the debtor terminates the agreement on the date shown in this notice.