This is only a translation of the contract for your reference
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Migros Bank grants the borrower a private loan of CHF XXXX
The interest rate (including administrative costs) is fixed at XXXX% p.a.
Migros Bank shall pay out the amount of the credit in accordance with the instructions of the borrower, after expiry of the statutory or agreed cancellation period of 14 days following the signing of the credit agreement by both parties.
The borrower undertakes to repay the amount of credit plus CHF XXXX
corresponding to the interest of XXXX % p.a.
monthly instalments of CHF XXXX
The interest shall be calculated as soon as the credit amount is paid out and according to its actual period of use. Before the last payment is made, the borrower receives a final statement that takes into account any differences in value and rounding, as well as administrative and other costs. The final monthly instalment shall be adjusted accordingly and invoiced on this basis.
The borrower may revoke his application for the conclusion of the agreement or his acceptance in writing within 14 days. The period for revocation shall begin as soon as the creditor has received a copy of this agreement. The time limit shall be observed if the notice of revocation is delivered to the post office on the 14th day. The customer is entitled to repay the credit early - even partially. In the event of early repayment of the credit, the customer is entitled to exemption from interest and an appropriate reduction of the costs related to the unused credit period.
Amendments and supplements to this agreement must be made in writing. Verbal agreements are not valid and cannot be invoked against Migros Bank.
The creditor authorises Migros Bank to request information from the residents' registration office, the debt enforcement office, the tax office and other third parties (e.g. credit information services such as CRIF AG). Any data blocking ordered by the borrower shall be deemed to be irrevocably lifted with respect to Migros Bank. In doing so, the borrower expressly releases Migros Bank from banking secrecy. The creditor also authorises Migros Bank to request information from the Central Office for Credit Information (ZEK) and, if required by law, from the Consumer Credit Information Centre (IKO) and to report the private credit and its processing to the ZEK and, if required by law, to the IKO.
The creditworthiness test is based on a seizable portion of income in accordance with and in application of Art. 28 Para. 2 and 3 of the Federal Consumer Credit Act (CCA) of CHF XXXX (taking into account the current demand and after adjustment for the rent portion). The calculation sheet for the creditworthiness test is an integral part of this credit agreement.
The attached general terms and conditions for private credits are an integral part of this credit agreement.
Applicable law and place of jurisdiction
This credit agreement is governed by Swiss law. For borrowers domiciled in Switzerland, the place of jurisdiction, place of performance and place of enforcement are governed by the applicable legal provisions. For borrowers domiciled abroad, the place of performance, the place of debt enforcement and the place of jurisdiction for any proceedings shall be the place of the branch of Migros Bank that granted the credit. However, Migros Bank shall be entitled to sue the borrower before any other competent court in Switzerland or abroad.
Special agreements
Transfer to Gowago. The supplementary provisions for the private loan form an integral part of the present private loan agreement.
The borrower confirms that he/she has received a signed copy of this agreement and a copy of the creditworthiness test. He/she declares that he/she accepts all of its provisions without reservation. The borrower further certifies that he/she has received the general conditions for private loans and acknowledges that these conditions form an integral part of this agreement. By signing this agreement, the borrower certifies that he/she is currently in perfect health, is not undergoing medical treatment and is fully capable of working, and that the information provided in the application for a private credit is complete and true.
1. Changes of name and address.
Communications from Migros Bank shall be deemed to have been completed if they are sent to the last address known to Migros Bank. The borrower undertakes to notify Migros Bank of any change of address 10 days prior to the move and of any change of name immediately. If searches are necessary due to a change of address or name, Migros Bank may charge the costs to the borrower. Migros Bank is free to decide whether or not to charge the costs of the corresponding searches in the event of a change of address or name during or after the term of the contract.
If the borrower moves his residence abroad, the balance of the debt must be repaid in full no later than 10 days before his departure, unless otherwise agreed in writing.
2. Delayed payment.
If the borrower fails to pay an instalment on time, he shall be in arrears without a reminder. If instalments of at least 10% of the net credit amount are not paid, the remaining open debt shall become due immediately, even without termination of the contract. In such a case, Migros Bank may require the borrower to provide collateral in kind or in the form of securities in the same amount as would have been due in the event of immediate termination of the contract.
In the event of late payment, the borrower shall owe interest on arrears in the amount of the interest according to No. 2 of the private credit agreement at the most, plus proven cash and legal costs. In addition, an administration fee of CHF 10.00 for the first reminder and CHF
20.00 for the second and subsequent reminders. Migros Bank shall be free to charge costs in connection with default interest and reminder fees either during the term of the contract or upon termination of the contract.
3. Certificate of interest
On 31 December of each year, the borrower shall receive an interest statement for the private loan. The interest statement is deemed to have been approved if its accuracy is not contested in writing within 30 days, stating the reasons. In addition, the borrower may request a statement of account or interest statement at any time upon payment of a processing fee of CHF 10.00.
4. Customer's statements
Migros Bank may rely on the information provided by the customer regarding his/her person, income and assets. If the customer makes false statements in this regard, the contract or offer shall be null and void.
1. Purpose
The borrower takes out the personal loan for the following vehicle:
Brand: XXX
Model: XXX
Designation: XXX
VIN: XXX
He/she has concluded a corresponding contract with GOWAGO AG (hereinafter referred to as "GOWAGO").
2. Cash price, service remuneration and payment modalities
The cash payment price of the vehicle mentioned in section 1 is as follows according to the invoice from GOWAGO XXX
The borrower pays the amount of CHF XXX directly to GOWAGO (down payment). For the (remaining) amount of CHF XXX, he/she takes out this loan from Migros Bank AG. The credit amount is rounded up to the nearest 1000.
The borrower instructs Migros Bank AG to disburse the amount of CHF XXX to GOWAGO. The payment is made on the due date of the invoice, at the earliest 14 days after signing the personal loan agreement
3. Rounding difference
Any rounding difference between the credit amount agreed in this contract (rounded up to the nearest 1000) and the (lower) invoice amount paid out to GOWAGO will be credited to the private credit with a value date delay of one day in the form of a one-off amortization.
4. Price to be paid under the loan agreement
The total price to be paid by the borrower in the event of utilization of this loan for the vehicle referred to in section 1 is CHF XXX. This amount is made up of the total cost of this loan, including interest and costs, and, if applicable, the share of the price of the vehicle which the borrower pays directly to GOWAGO.
5. Partial payments, transfer of ownership
The number, amount and due date of the loan installments to be paid by the borrower to Migros Bank AG under this loan agreement are shown in the personal loan agreement. Apart from these loan installments, no partial payments have been agreed between the borrower and Migros Bank AG for the vehicle described in Section 1.
Ownership of the financed vehicle is transferred directly from GOWAGO to the borrower upon payment of the purchase price.
6. No change in financial circumstances
By signing this personal loan agreement, the borrower confirms that the information provided in the personal loan application and listed in Appendix 1 is correct and that his/her financial circumstances have not changed. He/she then confirms that the information provided on the creditworthiness check calculation sheet, a copy of which the borrower has received together with this personal loan agreement, is correct.
The Borrower is aware that he/she was and is obliged to notify Migros Bank AG immediately in writing or in another verifiable form in text form of any changes to the information provided and listed in Appendix 1 to the provisional financing commitment that have occurred in the period between the provisional financing commitment and the signing of this personal loan agreement.
7. Non-conclusion, destruction or non-performance of the purchase contract
This personal loan is granted exclusively for the purpose of purchasing the vehicle specified in section1 and is subject to the conditions precedent that the contract for the purchase of this vehicle is concluded and the vehicle is delivered by GOWAGO. If the vehicle is not delivered, this personal loan agreement shall lapse and shall have no legal effect.
8. Disclaimer
The borrower is aware and acknowledges that Migros Bank AG is solely a financing partner in the context of a personal loan and is not directly or indirectly liable for services or products of GOWAGO . It is the responsibility of the borrower to check the accuracy of GOWAGO's invoice. Any claims in connection with the vehicle in accordance with section 1 above must be asserted against GOWAGO.
Note according to the law: Lending is prohibited if it leads to over-indebtedness (Art. 3 UWG).