Article 7:58 Dutch Civil Code, Book 7

Paragraph 1

This Title applies to credit agreements.

Paragraph 2

This Title does not apply to:

1. credit agreements which are secured by a mortgage or by another comparable security on registered property, or by a right in registered property, on terms customary for mortgage financing by the creditor concerned;

2. credit agreements for the purpose of acquiring or retaining property rights in land or in an existing or projected building;

3. lease or leasing agreements, unless:

   1. they contain an obligation to purchase the object of the contract or such an obligation has been added by separate contract, which also includes the case where the obligation to purchase is decided upon unilaterally by the creditor, or

   2. they must be classified as a goods credit contract as referred to in Article 84;

4. credit agreements which are granted in the form of an overdraft facility on an account and which must be repaid within one month;

5. credit agreements without interest and other costs, and credit agreements under which the credit must be repaid within a period of three months and only insignificant costs are charged;

6. credit agreements under which the credit is granted by an employer to the employer's employees as an ancillary activity, free of interest or at an annual percentage rate of charge lower than that customary on the market, and which are not offered to the public generally;

7. credit agreements which are the result of a settlement reached before the court or before another authority competent for that purpose by virtue of public authority;

8. credit agreements which provide for deferred payment, free of charge, of an existing debt;

9. credit agreements upon the conclusion of which the consumer is required to deposit goods with the creditor as security, and under which the liability of the consumer is strictly limited to those pledged goods, and

10. credit agreements relating to loans which are granted to a restricted public under a statutory provision with a general interest purpose, at an interest rate lower than that customary on the market or free of interest, or on other terms which are more favourable to the consumer than those customary on the market and at interest rates not higher than those customary on the market.

Paragraph 3

To a credit agreement under which the credit is granted in the form of an overdraft facility on an account and which must be repaid on demand or within a period of three months, only Articles 57, 58, 61(1), (5) and (6), 63, 67, 69 and Articles 71 to 73 inclusive apply. Articles 59 and 60 apply only in so far as the creditor does not comply with its obligations under Articles 4(2)(a) to (c) and 6 of the Directive concerning the standard information to be included in advertising and pre-contractual information.

Paragraph 4

To credit agreements in the form of overrunning, only Articles 57, 58, 70 and 73 apply.