A regulated agreement is an agreement regulated under the Consumer Credit Act 1974.
In asset finance it generally applies to agreements with private individuals, sole traders, partnerships and unincorporated bodies where the amount financed is £25,000 or less. Under credit agreements, the £25,000 limit relates to the credit advanced. This is therefore the price paid plus VAT if applicable, less the deposit or advance rentals paid. It has no relation to the total amount paid, interest or fees.
Under lease agreements, the £25,000 limit relates to the total of rentals due under the agreement.
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