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Contents
- Preliminary Material
- Main Text
- Part I General Part
- 1 Introduction
- 2 The Unfair Terms Directive and Its Application to Banking and Financial Contracts
- Preliminary Material
- I Background and Rationale of the Directive
- II Scope of Application
- III Core Terms
- IV The Transparency Requirement
- V Unfairness Test
- VI Legal Consequences of Unfair Terms
- 1 Setting the Scene: The Underpinning (and Partially Conflicting) Ideas
- 2 Lack of Bindingness for Consumer
- 3 Restoration of the Previous Situation
- 4 Prohibition of Revising and Partially Deleting Unfair Terms
- 5 Consequences for the Existence of the Contract as a Whole
- 6 Limitation Periods and Unfair Terms
- VII National Procedural Law and Unfair Terms Control
- VIII Conclusion
- Part II EU Jurisdictions
- 3 Germany
- Preliminary Material
- I Introduction
- II Legal Basis of Unfair Terms Control
- III The Scope of Unfair Terms Control
- IV The Incorporation of General Terms into the Contract
- V Main Examples of Unfair Clauses
- VI Relationship with Other Concepts and Rules
- VII Main Examples of Opaque Clauses
- VIII Contract Interpretation
- IX Consequences of Invalid Terms
- X Procedural Aspects
- XI Conclusion
- 4 France
- Preliminary Material
- I Introduction
- II Procedural Aspects
- III Legal Basis of Unfair Terms Control
- IV Main Examples of Unfair or Intransparent Clauses
- 1 General Observations
- 2 Administrative Opinions and Recommendations
- 2.1 General observations
- 2.2 The amount of credit
- 2.3 The interest rate
- 2.4 Clauses deemed as constituting unfair terms
- 2.5 Recommendation no 04-03 of 27 May 2004
- 2.6 Recommendation no 21-01 of 10 May 2021 (general observations)
- 2.7 Recommendation no 21-01 of 10 May 2021 (unfair terms in all credit contracts)
- 2.8 Recommendation no 21-01 of 10 May 2021 (unfair terms in agreements for credits renewable in instalment/contrats de credit renouvelables par fractions)
- 2.9 Recommendation no 21-01 of 10 May 2021 (unfair terms in credits connected to a selling agreement/contrats de crédit accessoires à une vente)
- 2.10 Recommendation no 21-01 of 10 May 2021 (unfair terms in leasing contracts/contrats de locations avec option d’achat)
- 2.11 Clauses not deemed as constituting unfair terms
- 2.12 Conclusion
- 3 Judicial Decisions
- V Relationship with Other Concepts and Rules
- VI Consequences of Invalid Terms
- VII Conclusion
- 5 Italy
- 6 Spain
- Preliminary Material
- I Introduction
- II Legal Basis of Unfair Terms Control
- III Main Examples of Unfair or Intransparent Clauses
- IV Relationship with Other Concepts and Rules
- V Consequences of Invalid Terms
- VI Procedural Aspects
- VII Conclusions
- 7 Poland
- 8 Romania
- 9 The Netherlands
- Preliminary Material
- I Introduction
- II Legal Framework
- III Main Examples of Unfair and/or Intransparent Contractual Terms in the Financial Sector
- 1 Contractual Term in Policy Conditions of Occupational Disability Insurance for the Self-Employed Regarding the Determination of the Benefit
- 2 Unilateral Interest Rate Variation Clauses in Euribor-Linked Mortgage Loans
- 3 Unilateral Interest Rate Variation Clauses in Revolving Consumer Credit Facilities
- 4 Liquidated Damages Clauses in Securities Leasing Contracts
- IV Relationship with Other Doctrines
- V Legal Consequences of Unfair Terms
- VI Procedural Aspects
- VII CONCLUSIONs
- 10 Belgium
- Preliminary Material
- I Introduction
- II Legal Basis of Unfair Terms Control
- III Main Examples of Unfair or Intransparent Clauses
- 1 Clauses Permitting the Unilateral Determination and Modification of Fees and Contractual Conditions
- 2 Clauses Permitting Unilateral Changes of the Characteristics of the Product
- 3 Unilateral Termination Clauses
- 4 Liquidated Damages Clauses
- 5 Assignment Clauses
- 6 Offset Clauses
- IV Relationship with Other Concepts and Rules
- V Consequences of Unfair Terms
- VI Procedural Aspects
- VII Conclusion
- 11 Greece
- Preliminary Material
- I Introduction
- 1 Domestic Socio-Economic Background
- 2 Importance of the Unfairness Test
- 3 Implementation of the Unfair Terms Directive
- 3.1 General remarks and key definitions
- 3.2 Advantages and disadvantages of the initial approach to the definition of ‘consumer’ that applied to general terms of transactions
- 3.3 The application of the initial broad definition of ‘consumer’ to banking transactions
- 3.4 The definition of ‘consumer’ currently in force that applies to general terms of transactions
- 3.5 Application of Article 2 Law 2251/1994 to very small undertakings
- II Legal Basis of the Unfairness Test
- III Notable Examples of Unfair or Intransparent Contract Terms
- IV Relationship with Other Concepts and Rules
- V The Effects of Invalid Terms
- VI Procedural Aspects
- VII Conclusion
- 12 The Czech Republic
- Preliminary Material
- I Introduction
- II Legal Basis of Unfair Terms Control
- III Main Examples of Unfair or Intransparent Clauses
- IV Relationships with Other Rules
- V Consequences of Invalid Terms
- VI Procedural Aspects
- VII Conclusion
- 13 Sweden
- 14 Hungary
- Preliminary Material
- I Introductory Remarks
- II Legal Basis of Unfair Terms Control
- 1 Implementation of the Unfair Terms Directive
- 2 Distinction Between Unfair and Intransparent Terms
- 3 Contra proferentem Rule
- III Main Examples of Unfair or Intransparent Clauses
- IV Relationship with Other Concepts and Rules
- V Consequences of Invalid Terms
- VI Procedural Aspects
- VII Conclusion
- 15 Austria
- 16 Ireland
- 17 Estonia
- Preliminary Material
- I Introduction
- II Legal Basis of Unfair Terms Control
- III Examples of Unfair or Intransparent Clauses
- IV Relationship with Other Concepts and Rules
- V Consequences of Invalid Terms
- VI Procedural Aspects
- VII Conclusion
- 3 Germany
- Part IIa Non-EU/EEA Jurisdictions
- 18 Norway
- Preliminary Material
- I Introduction
- II Legal Basis of Unfair Terms Control
- III Case Law Regarding Unfair or Intransparent Clauses in Financial Consumer Contracts
- IV Relationship with Other Concepts and Rules
- V Consequences of Invalid Terms
- VI Procedural Aspects
- VII Conclusion: Why is the Unfair Contract Terms Directive not Applied by Norwegian Courts and the ADR Body FinKN?
- 18 Norway
- Part IIb Non-EU/Non-EEA Jurisdictions
- 19 United Kingdom
- Preliminary Material
- I Introduction
- II Legal Basis of Unfair Terms Control
- III Main Examples of Unfair or Intransparent Clauses
- IV Relationship with Other Concepts and Rules
- V Consequences of Invalid Terms
- VI Procedural Aspects
- VII Conclusion
- 20 Switzerland
- 19 United Kingdom
- Part III Conclusions
- 21 Towards an Unfair Terms Regulation
- Preliminary Material
- I Introduction
- II Towards an Unfair Terms Regulation
- III Are Banking and Financial Contracts Special?
- IV Scope and Definitions
- V Relationship Between Interpretation Contra Proferentem, the Unfairness Test, and the Transparency Requirement
- VI Core Terms
- VII The Transparency Requirement
- VIII Unfairness Test
- IX Limitation Periods and Unfair Terms
- X Legal Consequences of Unfair Terms
- XI Procedural Aspects
- 3 Strengthening the Position of Domestic ADR Bodies
- 4 Collective Redress
- XII Conclusions
- 21 Towards an Unfair Terms Regulation
- Part I General Part
- Further Material