Section 13 of the Credit Agreements Act 75 of 1980 provides important protections for consumers who enter into credit agreements. This section specifically addresses the disclosure requirements that credit providers must adhere to when providing credit agreements to consumers.

The purpose of Section 13 is to ensure that consumers have access to all relevant information about the terms and conditions of their credit agreements. This information is essential for consumers to make informed decisions about whether to enter into a credit agreement and to understand the potential costs associated with borrowing.

The section requires credit providers to provide consumers with a written agreement that clearly sets out the terms and conditions of the credit agreement. This must include the total cost of the credit, the interest rate, any fees or charges associated with the credit, the repayment terms, and any other important details.

Furthermore, the credit provider must explain the agreement to the consumer in a clear and accessible language so that the consumer fully understands the terms and conditions before signing the agreement. The credit provider must also provide the consumer with a copy of the agreement.

In addition to these disclosure requirements, Section 13 also requires that credit agreements be in writing, signed by both the credit provider and the consumer. This ensures that there is a clear record of the agreement that can be referred to in case of any disputes.

Overall, Section 13 of the Credit Agreements Act 75 of 1980 provides important protections for consumers by ensuring that they have access to all relevant information about the terms and conditions of their credit agreements. By requiring credit providers to disclose this information and to provide a written agreement that is signed by both parties, consumers can make informed decisions about borrowing and avoid potential financial pitfalls.