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FEDERAL CONSUMER PROTECTION LAW - page 18 / 38

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II. In case of discounts, refunds or any other reason for which credit and cash payments may be different, said difference shall be pointed out to the consumers. If a fixed rate will be used, consumers shall also be informed of the amount of interest to be paid for each term. In case of a variable rate, the consumer shall be informed of the rule used to adjust the rate, which shall not depend upon unilateral estimations by the supplier, but on the variations of an interest rate representing the cost of the credit to the consumer, and which the consumer may easily verify.

III. Consumers shall be informed of the total amount to pay for the good, product or service in question, which includes, if applicable, number and amount of individual payments, interest, fees and pertinent charges, including those fixed for payments made in advance or cancellation payments; the pertinent items shall be provided to consumers duly broken down.

IV. The price originally agreed upon in transactions in installments or conditional sales shall be respected, except for the provisions of other laws or unless there is a covenant to the contrary, and

V. If the transaction has been carried out, the supplier shall send to the consumer at least a bimonthly balance statement, through any means the consumer may chose, containing the information regarding charges, payments, interest and fees, amongst other items.

ARTICLE 67.- With respect to purchase and sale contracts for a fixed term or to render services with deferred payments, the interest over the price in cash shall be estimated, subtracting the down payment that would have been paid.

ARTICLE 68.- Interest can only be capitalized when the parties have previously agreed so, in which case the supplier shall provide the consumer a monthly balance statement. Any collection that breaches the provisions of this article shall be illegal.

ARTICLE 69.- Interest shall accrue exclusively on unpaid balances of the credit granted, and the payment thereof may not be demanded in advance, but only for terms already matured.

ARTICLE 70.- In cases of purchases in installments of personal or real property set forth in this Law, if the contract is rescinded, the seller and purchaser shall mutually reinstate the considerations made to each other. The seller that would have delivered the object shall be entitled to demand, by reason of its use, the payment of a lease or rental and, if applicable, the compensation due to the wear and tear that such object has experienced.

The purchaser that has paid part of the price shall be entitled to receive the interest estimated under the rate that has been applied to the payment such consumer has made, if applicable.

ARTICLE 71.- In cases of transactions where the price must be paid in periodical payments, if more than a third part of the price or the total number of the payments agreed upon has been paid and the supplier demands to rescind or perform the contract for arrears, the consumer shall be entitled to chose the rescission under the terms of the preceding article, or to pay the due and payable amount, plus the considerations that may legally apply therefor. The payments made by the consumer, even in an untimely fashion and accepted by the supplier, shall release the consumer of the obligations inherent to such payments.

ARTICLE 72.- Any charge that may be anticipated by reason of the issuance of a credit to a consumer shall be previously specified upon the execution of the contract or completion of the pertinent sale, rent or transaction; the difference shall be broken down and the right of the consumer to carry out the transaction in cash shall be preserved if the terms of the credit are not in his best interest.

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