Can­cel­la­tion fees

Finweek English Edition - - BUSINESS -

The can­cel­la­tion fee must, ac­cord­ing to the CPA, be cal­cu­lated by con­sid­er­ing the amount you still owe and the value of the trans­ac­tion up to the date of can­cel­la­tion as well as t he value of t he goods you will keep, the value of the goods you re­turn to the busi­ness, the du­ra­tion of the con­tract, your ben­e­fits and losses, the na­ture of the goods or ser­vices that you re­served or booked, the length of the no­tice pe­riod, the rea­son­able po­ten­tial for the busi­ness to f i nd some­one else to en­ter i nto an agree­ment within the no­tice pe­riod and t he gen­eral prac­tice of t he rel­e­vant in­dus­try.

How­ever, the sup­plier can­not charge a fee that will make you not use your right to can­cel a f i xed-term con­tract. The busi­ness must a l so en­sure you know there will be a can­cel­la­tion fee if you can­cel be­fore the end of the con­tract. If the busi­ness can­cels On the other hand, the busi­ness can can­cel the agree­ment within 20 busi­ness days af­ter giv­ing you writ­ten no­tice if you did not pay the agreed amount or com­plied with the terms of the agree­ment in an im­por­tant way, un­less you pay or com­ply within that time frame. Although this sounds like a good way to get out of a f i xed term con­tract, re­mem­ber that you will be l isted as a bad payer with the credit bu­reaus if you stop paying, prevent­ing you from get­ting credit in the fu­ture.

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