Government Ordinance No. 85 on Distance Contracts for Financial Services

Romania

(enacted in 2004)

Government Ordinance No. 85 on Distance Contracts for Financial Services (Ordonata Privind Protectia Consumatorilor la Incheierea Si Executarea Contractelor la Distanta Privind Serviciile Financiare) deals with consumer protection in the conclusion and performance of distance contracts for financial services in Romania. It stipulates that consumers must be provided with accurate and complete information, in writing, that includes disclosure of risks, total price to be paid, method of payment, dispute settlement possibilities, and the consumer’s statutory rights of unilateral termination and rescission.

The ordinance was amended by Government Emergency Ordinance No. 65 of 2009 which is unavailable. 

DISCLAIMER: Due to the fact that an English translation was unavailable for this law, information for this summary has been taken from secondary sources and not from review of the actual legal text.