What Is A Linked Credit Agreement

The main protection that the tied loan provides is that the credit provider can be held liable: A tied transaction concluded before the conclusion of a lease agreement has no effect until (if applicable) that contract is concluded. If the sole proprietor withdraws from the lease or terminates it, it withdraws from the associated transactions or cancels them. Similarly, certain orders issued regarding the enforcement (or lack thereof) of the lease may be applied to related transactions. 1. Where the consumer has exercised a right of withdrawal based on Community law on a contract for the supply of goods or services, he shall no longer be bound by a linked credit agreement. (j) credit agreements relating to the free deferral of payment of an existing debt; The sole proprietor has the right to terminate a consumer lease after 18 months if the contract provides for payments in excess of £1,500 per year (subject to certain other exceptions). .