Financial companies have to register sales contracts and loans before Proconsumidor

The National Institute for the Protection of Consumer Rights (Pro Consumidor) issued a resolution this Thursday in which it provides that non-regulated finance companies and businesses of the same nature register conditional sale contracts for furniture and loans in that institution, as established by the General Law for the Protection of the Rights of the Consumer or User 358-05.

Eddy Alcántara, director of Proconsumidor, explained that resolution number 1511-2022, dated August 25, 2022, establishes that all commercial entities with financial characteristics of loans and related of the same nature must register the contracts, “in search of of avoid abusive clauses or scams to the rights of consumers”.

Alcántara maintained that these contracts must be registered in a single and non-extendable period of thirty calendar days “because these documents are considered as adhesion contracts, in accordance with the provisions of articles 81 and following of Law 358-05 and articles 42 to 45 of the Application Regulations of this same law”.

warned that expired within 30 days and not complying with the provisions of this resolution, “Proconsumidor will proceed to sanction and close the commercial transactions of these entities.”

In case of non-compliance, it will also proceed to issue a resolution prohibiting the use of the contract for commercial transactions until it is analyzed and registered by the defending entity for its use in its commercial relations with consumers.

It is established -he added- that, if it is verified that the commercial entity continues to use the document despite the prohibition, it will be considered a serious infraction, in accordance with the typification indicated by article 109 literal c, of the regulations, and may be subject to fines or other sanctions established for this type of infraction.

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The official explained that since this sector is not regulated by the Monetary and Financial Law, it is up to Proconsumidor to ensure the rights of each of the consumers who carry out transactions with the providers of this type of commerce.

He also indicated that the review of the adhesion contracts by Pro Consumidor has as its main purpose, “to ensure that they do not contain clauses that are harmful to the rights of consumers or users, enshrined in the consumer protection law.”

“Failure to comply with the stipulated requirements, in terms of adhesion contracts, including the introduction of abusive clauses, is considered an infraction of the aforementioned law, for which the natural or legal persons who by omission or action have participated in them will be responsible. , mediating fraud, fault or mere non-observance”, he finally said.


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