Document ID: chunk:federal_register_of_legislation:F2024C00882:reg:28e:p2
Version: federal_register_of_legislation:F2024C00882
Segment Type: reg
Provision Reference: reg 28E (pt 2/2)
Character Range: 164405–165589

mentioned under subparagraph (iv) is expressed as a mathematical formula—include a clear explanation of the formula with the formula; and
 (vi) if the amount of the fee or charge is a reasonable estimate of the fee or charge—state that it is an estimate, and express the amount as required by paragraph (b); and
 (vii) state how frequently the fee or charge is to be paid; and
 (viii) describe the circumstances when the fee or charge will or will not be payable; and
 (b) the reasonable estimate of the amount of each fee or charge must be expressed in one of the following ways:
 (i) in dollars;
 (ii) as a proportion of the amount borrowed or total rental payments and a dollar amount;
 (iii) as a range of amounts, expressed in dollars;
 (iv) as a percentage of the amount borrowed or total rental payments and a dollar amount.
 (4) The licensee's proposal disclosure document must clearly state that the consumer will be liable to pay the fees and charges.
 (5) The information mentioned in subregulations (2) to (4) must be set out in a way that is easy for the consumer to understand without being required to do any working out or to look elsewhere for additional information.