New South Wales Consolidated Acts

CREDIT ACT 1984 - SECT 32

32 Form of offer

(1) A person who is:

(a) a credit provider,

(b) an agent of a credit provider authorised to receive an offer to the credit provider to enter into a credit sale contract or a loan contract, or

(c) a supplier in relation to whom a credit provider is a linked credit provider,

shall not give to a person a document for signature by that person as an offer in writing to the credit provider to enter into a credit sale contract or a loan contract unless it includes a notice that is in the form prescribed for the purposes of this subsection and is in a position so prescribed or, in a particular case, in a position approved by the Tribunal.

Penalty: 20 penalty units.

(2) A credit provider or an agent of a credit provider shall not give to a person an offer in writing signed by or on behalf of the credit provider to enter into a credit sale contract or a loan contract unless it includes a notice that is in the form prescribed for the purposes of this subsection and is in a position so prescribed or, in a particular case, in a position approved by the Tribunal.

Penalty: 20 penalty units.

(3) Where:

(a) a credit provider,

(b) an agent of a credit provider authorised to receive an offer to the credit provider to enter into a credit sale contract or a loan contract, or

(c) a supplier in relation to whom a credit provider is a linked credit provider,

gives to a person a document for signature by that person as an offer in writing to the credit provider to enter into a credit sale contract or a loan contract, the credit provider, agent or supplier, as the case may be, shall, before that person signs the document, also give to that person a true copy of the document for the person’s own use certified by the credit provider, agent or supplier as a true copy of the first-mentioned document.

Penalty: 10 penalty units.

(4) Where a credit provider or an agent of a credit provider gives to a person an offer in writing signed by or on behalf of the credit provider to enter into a credit sale contract or a loan contract, the credit provider or agent shall, before that person accepts the offer, also give to that person a true copy of the offer for the person’s own use certified by the credit provider or agent as a true copy of the offer.

Penalty: 10 penalty units.

(5) Where a person signs a document and thereby offers to enter into, or enters into, a credit sale contract or a loan contract, any subsequent alteration of, or addition to, the terms and conditions of the contract has no force or effect unless, after the alteration or addition has been made, the person has, opposite the alteration or addition, signed or initialled the margin of:

(a) the document in which the terms and conditions of the contract are specified, and

(b) the copy of the document given to the person pursuant to subsection (3) or (4).

(6) Where a person signs a document and thereby offers to enter into, or enters into, a credit sale contract, or a loan contract:

(a) the credit provider,

(b) an agent of the credit provider authorised to make or receive the offer to enter into the contract, or

(c) a supplier in relation to whom the credit provider is a linked credit provider,

shall not alter or add to the terms and conditions specified in the document with intent to deceive the debtor or, where the alteration or addition is made by the supplier, with intent to deceive the credit provider, whether or not the document in which those terms and conditions are specified has been signed or initialled as provided in subsection (5).

Penalty: 50 penalty units.

(7) In this section "offer in writing" includes a document that, if signed by or on behalf of the credit provider and the debtor, would be a credit sale contract or a loan contract.