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=S=> BGB 502. 1 The contract declaration to be signed by the consumer in the case of instalment payment transactions must show the cash payment price , the instalment payment price ( total amount of down payment and all instalments to be paid by the consumer including interest and other costs ) , amount , number and due date of the individual instalments , the effective annual rate of interest , the costs of an insurance policy taken out in connection with the instalment payment transaction , the agreement of a retention of title or another form of security to be given . The indication of a cash price and an effective annual rate of interest is not required if the entrepreneur only supplies things or performs services in return for instalment payments .
=S=> BGB 502. 2 The requirements of subsection ( 1 ) , of section 492 ( 1 ) sentences 1 to 4 , and of section 492 ( 3 ) do not apply to instalment payment transactions in distance sales if the information described in subsection ( 1 ) sentence 1 nos . 1 to 5 , with the exception of the amount of the individual instalments , is provided to the consumer in text form in such good time that he is in a position to obtain full knowledge of the information before the contract is entered into .
=S=> BGB 502. 3 An instalment payment transaction is void if the requirement of written form in section 492 ( 1 ) sentences 1 to 4 is not observed or if one of the items of information required by subsection ( 1 ) sentence 1 nos . 1 to 5 is omitted . Notwithstanding a defect under sentence 1 , the instalment payment transaction is valid if the thing is delivered to the consumer or the service performed for him . However , the maximum rate of interest on the cash payment price is the statutory rate of interest if the information on the instalment payment price or the effective annual rate of interest is missing . If a cash payment price is not stated , then in case of doubt the market price is deemed to be the cash payment price . The provision of security may not be required if no information has been given in that regard . If information on the effective or initial effective annual rate of interest states a rate that is too low , the instalment payment price is reduced by the percentage by which the effective or initial effective annual rate of interest is too low .
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