In a retail installment sale to a consumer as defined by Regulation Z of the Federal Trade Commission (FTC), the creditor must make the disclosures required by Regulation Z clearly and conspicuously in writing, in a form that the consumer may keep. The disclosures must be grouped, must be segregated from everything else, and must not contain any information not directly related to the disclosures required by Regulation Z (although the disclosures may include an acknowledgment of receipt, the date of the transaction, and the consumer's name, address, and account number). 12 C.F.R. § 226.17(a)(1). Regulation Z sets forth several closed-end model forms and clauses which illustrate other formats for these disclosures. 12 C.F.R. Part 226, Appendix H.
A federal notice regarding preservation of the consumer's claims and defenses is
required on all consumer credit contracts by Federal Trade Commission regulation. 16
C.F.R. § 433.2. The notice must appear in at least 10- point, bold face, type or print and
must be worded as shown if the form.
A Colorado Retail Installment Contract and Security Agreement is a legally binding contract entered into between a buyer and a seller in Colorado for the purchase of goods or services on an installment basis. This agreement sets out the terms, conditions, and obligations that both parties must adhere to during the course of the installment payments. Keywords: Colorado, Retail Installment Contract, Security Agreement, installment basis, buyer, seller, goods, services, terms, conditions, obligations. There are different types of Colorado Retail Installment Contract and Security Agreements that can be used in various situations: 1. Automobile Retail Installment Contract and Security Agreement: This type of contract is specifically designed for the purchase of automobiles on an installment basis. It includes details such as the make, model, year, and vehicle identification number (VIN) of the automobile, as well as the agreed-upon purchase price, down payment, interest rate, and repayment schedule. 2. Electronics Retail Installment Contract and Security Agreement: This contract applies to the purchase of electronic goods such as smartphones, laptops, televisions, and home appliances. It includes provisions relating to the specific electronics being purchased, the purchase price, down payment, interest rate, and repayment terms. 3. Furniture and Home Appliances Retail Installment Contract and Security Agreement: This type of agreement is used when purchasing furniture, home appliances, or other similar items. It outlines the details of the specific items being purchased, the purchase price, down payment, interest rate, and repayment schedule. 4. Retail Services Installment Contract and Security Agreement: This contract is utilized for the purchase of services, such as home renovations, landscaping, or professional services, on an installment basis. It sets out the details of the services being provided, the service fees, down payment, interest rate, and repayment terms. In all types of Colorado Retail Installment Contract and Security Agreements, it is important to include provisions regarding default, repossession, and the rights and responsibilities of both the buyer and seller in the event of non-payment or breach of contract. The agreement typically includes clauses relating to warranties, disclaimers, and the governing law of the contract. In conclusion, a Colorado Retail Installment Contract and Security Agreement is a legal agreement used for purchasing goods or services on an installment basis in Colorado. Different types of contracts exist depending on the nature of the purchase, such as automobiles, electronics, furniture, home appliances, or services, each outlining the specific terms and conditions relevant to that transaction.
