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ARTICLE · 08 DECEMBER 2023

Regulatory Overview For Credit Contracts Under The Consumer Protection Act

Miller Thomson
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In Quebec, the Consumer Protection Act (the "CPA") governs contracts for goods or services entered into between consumers and merchants in the course of their business.

CanadaConsumer Protection
Angelo Mandeville-Sacco
Angelo Mandeville-Sacco
Luc-Antonie Manneh
Luc-Antonie Manneh
Karel Mahy-Rousseau
Karel Mahy-Rousseau
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In Quebec, the Consumer Protection Act (the "CPA") governs contracts for goods or services entered into between consumers and merchants in the course of their business.1

When it comes to loans of money or credit, lenders wishing to establish themselves in Quebec as well as consumers must be aware of the complex and well-defined legal framework set out by the legislator in the CPA. The following is a brief overview of Quebec's credit contract regulations and the obligations arising from them.

TYPES OF CREDIT CONTRACTS

The CPA identifies three types of credit contracts: (1) contracts for the loan of money; (2) open credit contracts; and (3) contracts involving credit.2

Contracts for the loan of money allow consumers to borrow money for credit charges (which includes interest, administration fees, brokerage fees, storage fees and insurance).3

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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