Document background
This Revolving Credit Contract template is designed for use by financial institutions operating in New Zealand to establish ongoing credit facilities with borrowers. The document ensures compliance with the Credit Contracts and Consumer Finance Act 2003 (CCCFA) and other relevant New Zealand legislation, including mandatory disclosure requirements and consumer protections. It is suitable for various credit arrangements where borrowers need flexible access to funds up to a predetermined limit, with the ability to draw down and repay funds multiple times. The contract includes comprehensive terms covering credit limits, interest calculations, fee structures, repayment obligations, and default provisions, while incorporating necessary regulatory safeguards and disclosure requirements specific to New Zealand's consumer credit regime.
