ADVOKS GLOBAL · KENYA
Consumer Protection Act
60. Deferral of payments
Edition: 2022-12-31 · In force
60. Deferral of payments
(1)If the lender under a credit agreement invites the borrower to defer making a payment that would otherwise be due under the agreement, the invitation must disclose whether or not interest will accrue on the unpaid amount during the period of the deferral and, if interest will accrue, the invitation must also disclose the interest rate.(2)If the lender does not comply with subsection (1), the lender shall be deemed to have waived the interest that would otherwise accrue during the period.