Retail Installment Agreement Template for Denmark

This Retail Installment Agreement template is designed for use in the Danish market where businesses offer consumers the option to purchase goods through scheduled payments. The document ensures compliance with Danish consumer protection laws, particularly the Credit Agreements Act (Kreditaftaleloven) and other relevant legislation. It includes mandatory disclosures about credit terms, withdrawal rights, and consumer protections required under both Danish and EU law. The agreement is suitable for various retail sectors and can be customized for different types of goods while maintaining compliance with legal requirements for consumer credit arrangements. Typically used by retailers selling higher-value items such as electronics, furniture, or appliances, this agreement protects both the seller's security interest and the consumer's statutory rights.

1. Parties: Identification of the seller/creditor and the buyer/consumer with full legal names, addresses, and registration numbers where applicable

2. Background: Brief context explaining the purpose of the agreement and the goods being purchased on installment

3. Definitions: Key terms used throughout the agreement, including technical financial terms that need to be clearly explained for the consumer

4. Description of Goods: Detailed description of the goods being sold, including any serial numbers, specifications, or identifying features

5. Purchase Price and Payment Terms: Total purchase price, down payment, number of installments, amount of each installment, and payment schedule

6. Annual Percentage Rate (APR): Clear disclosure of the APR and all costs included in the credit calculation as required by Danish law

7. Payment Method: Specified method of payment, including any direct debit arrangements or payment instructions

8. Title and Risk: Provisions regarding when title passes to the buyer and risk allocation for the goods

9. Delivery: Terms regarding delivery of goods, including timing and location

10. Default and Remedies: Consequences of missed payments and seller's remedies, including any repossession rights

11. Right of Withdrawal: Consumer's right to withdraw from the agreement within the statutory period as per Danish law

12. Early Repayment: Consumer's right to early repayment and any associated calculations or charges

13. Notices: How formal communications between parties should be made

14. Governing Law: Confirmation that Danish law governs the agreement