Account Payment Arrangement; updated for New Zealand CCCFA HCCCC Rate of Charge

The requirements for New Zealand CCCFA "Variation Disclosures" have been clarified by the Commerce Commission, in particular the requirement to provide the Rate of Charge for High-Cost Consumer Credit Loans.

The "Rate of Charge" is now shown in the Payment Arrangement wizard and is highlighted if it is greater than the maximum allowed of 0.8%.

The "Rate of Charge" has been added to the "Variation Summary" in the sample Payment Arrangement Advice.

The following Standard Summary Page blocks have been updated:

• AccountPaymentArrangement_Summary
• Version 1.04, Last updated 02/09/2021
• Account_PaymentArrangement_Changes
• Version 1.04, Last updated 15/09/2021

The following sample Document has been updated:

• APA - Account_PaymentArrangementAdvice.xml
• Version: 1.03 (02/09/2021)

DISCLAIMER: 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.