BC-1.4.10
In addition to the requirements under Paragraph BC-1.4.9,
(a) The current Annual Percentage Rate (APR) as calculated using the APR methodology in Paragraph BC-1.4.23. The APR displayed must be calculated based on the following scenarios. Amount borrowed is BD3,000 for a 1-year term;
(b) The Annual Percentage Rate (APR), must be broken down as follows:
(i) The annual nominal interest/profit rate payable;
(ii) Administration/handling fees;
(iii) In the case of finance lease contracts/ijara or deferred purchase contracts, any fees for purchasing the asset; and
(iv) Any other mandatory charges (contingent costs are excluded); and
(c) The terms and conditions for early repayment, partial or full, of the credit agreement, or for any change in the terms and covenants of the credit agreement, as well as any relevant charges (where permitted) and the way in which these are calculated
January 2014