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Part II EU Jurisdictions, 9 The Netherlands

Danny Busch

From: Unfair Terms in Banking and Financial Contracts

Edited By: Danny Busch, Matthias Lehmann

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 14 July 2024

Subject(s):
Banker-customer contract — Capital markets — Financial regulation

This chapter notes that banks and other financial institutions in the Netherlands are having to make increasing allowance for consumer claims based on the Unfair Terms Directive (UTD). It notes that Dutch civil courts and the Financial Services Complaints Tribunal (KiFiD) dispute adjudicators act in compliance with the UTD and the application of the Court of Justice of the European Union (CJEU)’s case law. In response to criticism from the European Commission, the Dutch legislature made some amendments to the Dutch provisions on general conditions. The chapter looks into main examples of unfair and/or intransparent contractual terms in the financial sector. It also considers the legal consequences of unfair terms in the Netherlands.

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