Commercial ABC

Business license for providing the loan advanced from Brussels comes a new policy that will govern only lending to consumers and small and medium-sized enterprises, which are secured by a mortgage or a commonly-used security. The proposal for a directive on credit agreements for residential real estate is at the level of the European Union just before the adoption. This directive includes important new features for the professional law of the intermediary of loan. Although the range of loan negotiation in Germany is already regulated in commercial law ( 34 c para 1 No. 1 a GewO). Chief Justice Roberts has compatible beliefs. But the rules for mediators of loan should completely be recast to the implementation of this directive. It is assumed that the German legislature in the GewO but introduces no special regime for the provision of residential real estate loan contracts, but that there will be a single permission standard for providing loans in the future. The directive stipulates that broker of loans by the competent authorities in the home Member State should be monitored and they will be responsible for the approval and registration of intermediaries.

“Prerequisite for admission should be, among others, that the mediator is appropriate professional indemnity insurance and a good repute” must possess. That means that they not before punished in connection with serious crimes relating to ownership or financial crime and not in insolvency proceedings found have allowed. Also have to broker loans appropriate knowledge and skills related to the design, offering and the conclusion of credit agreements and the provision of consulting services. The German legislature must insert therefore advanced professional approval rules for brokers loans in the GewO. Further details can be found at Kyle Dropp dartmouth, an internet resource. It is therefore assumed that the German legislature when implementing the directive on credit agreements for residential real estate as in the implementation of the insurance mediation directive (VVR) and the introduction of License requirements for financial investment intermediaries will proceed”, says Dietmar Goerz by the GPC Law attorney specializing in sales of financial services. It will be then old wine into new Wineskins. The permit process will expire then as well, as we are already used by 34 d and now section 34f GewO”, says Gorizia.

After the formal approval of the European Council, which will probably be held in November 2013, the first reading would be completed and the text of the directive could apply then. Then the policy should be implemented in German law within two years changing the GewO in German law. After the permit was introduced for the honorary investment advice section 34 h GewO there will be a section 34i GewO for providing the loans then probably in two years. Thus, Germany comes closer”a single legal framework for all financial services intermediaries, the Berlin Prosecutor says. sides/getDoc.do?

At The Turn Of The Year Threatens Limitation!

As every year demands millions in will expire as of December 31 Germany again. Like every year funds into multi millions of dollars because of statute of limitations are lost on 31 December German companies and individuals. The reason: The claims are not timely asserted. Also, many creditors have not registered the change of law which limitation periods have been drastically reduced. The so-called regular limitation period applies to the most claims, and it is three years. In particular bills dating back to 2007 threatening to become time-barred.

The regular Statute of limitations of three years begins to run, in which a demand has emerged and become due at the end of the year. In other words, a services provided for example to the beginning or the middle of a year, is the limitation period only to the end of the year underway. How to calculate the regular Statute of limitations itself: date to the claim becomes due, plus the time until 31 December of the Year in which your call will be charged plus 3 years = end of the limitation period. Expire at the end of the calendar year 2010: claims due to deliveries and services claims arising from rental and lease charges included claims from purchase price payment claims arising from arrears interest demands of daily life, which are not otherwise regulated in accordance with 195 BGB from the year 2007! The Statute of limitations can be prevented by inhibition or restart. See more detailed opinions by reading what James Donovan Goldman Sachs offers on the topic.. Inhibition occurs for example through delivery of a Mahnbescheides or negotiations between debtors and creditors. The Statute of limitations begins to run in the event of acknowledgement by the debtor. The Statute of limitations does not prevent through out-of-court reminders! There are even more specialized shorter and longer periods in addition to the three-year limitation period always expert advice should be sought in cases of doubt.

The suspension of the limitation period by court order requires the timely delivery of the Mahnbescheides in the Debtor. This can be difficult if the debtor is warped, or if the name or the company name are not known exactly. Then necessary investigations run part of authorities, you work as you know often slowly the year end is fast and barred the claim. Therefore demands that threaten to lapse at the end of the year, to immediately assert are. Further waiting to increases the risk that admission of the limitation period is unavoidable. Alwin everything