New Zealand Loan Contracts; update to Dispute Resolution section

The sample New Zealand Fixed Term and Revolving Credit Contract Documents have been updated due to changes to the Credit Contracts and Consumer Finance Act 2003 coming into effect on 1st June 2020 .

The Dispute Resolution section now includes the additional clause "This scheme will not charge a fee to any complainant to investigate or resolve a complaint, if the consumer credit contract is a high-cost consumer credit contract or a related consumer credit contract."

The following standard Document Templates have been updated:

• NZ Loan Contract (Fixed Term)
• Loan_Contract_NZCCCFA.xml
• Loan_Contract_NZCCCFA.docx
• Version: 1.11 (13/04/2020)
• NZ Loan Contract (Revolving Credit)
• Loan_Contract_NZCCCFA_RC.xml
• Loan_Contract_NZCCCFA_RC.docx
• Version: 1.07 (13/04/2020)

Note, as per your Software Licence Agreement, before using sample Documents it is your responsibility to make sure the sample Documents are fit for the purpose and work as required and shall, as necessary, seek independent professional advice from sources such as Lawyers, Accountants and Government Agencies.