Consumer Credit Compliance Documents in Estonia

A creditor licence application under the Creditors and Credit Intermediaries Act (KAVS) is assessed not only on the company and its managers but on how it will lend: its credit agreements, its creditworthiness assessment and its treatment of consumers. The same documents are then checked in supervision. This guide explains the lending documents a consumer creditor needs in Estonia and what each of our add-ons delivers.

The guide is general information, not legal advice. The licence is decided by the Financial Supervision Authority; nobody can guarantee it.

The rules the documents implement

Law of Obligations Act §§ 402–416¹ — the consumer credit agreement: pre-contractual information in the standard European form (SECCI), the annual percentage rate of charge, the right of withdrawal within 14 days, early repayment, the rate cap on the APR, and the content of the agreement;
KAVS and the FSA's guidelines on responsible lending — assessing the consumer's creditworthiness from sufficient information, including income, obligations and credit history, before every agreement and before a material increase;
advertising rules — the representative example and the information every credit advertisement must contain.

The documents and our add-ons

credit agreement templates — : consumer and business credit agreements, SECCI, general terms;
responsible lending policy — : the creditworthiness assessment rules, data sources, affordability tests and exceptions;
credit scoring set-up — : the scoring rules, their documentation and validation, written so the Financial Supervision Authority can follow them;
consumer credit compliance pack — : advertising, APR calculation, withdrawal and early repayment processes;
introduction to a debt collection partner — : for overdue claims, with a partner that follows the consumer protection rules.

These are ordered together with the creditor licence (). A company that lends only to businesses does not need a creditor licence — for that we form a lending company without a licence.

What you receive

lending documents that implement the Law of Obligations Act and KAVS for your product;
documents consistent with the licence application and ready for supervision.

Prices are starting prices confirmed in a written quote and exclude VAT. All communication takes place by email.

Ready to start? Choose the creditor licence and tick the lending documents you need. Open the quote form.

Frequently asked questions

What must a consumer credit agreement in Estonia include?

The information the Law of Obligations Act §§ 402–416¹ requires, preceded by the standard European consumer credit information (SECCI): the total amount, the annual percentage rate of charge, the costs, the 14-day right of withdrawal and early repayment.

What is responsible lending in Estonia?

Assessing the consumer's creditworthiness from sufficient information — income, obligations, credit history — before every agreement and before a material increase, and not lending when the consumer is unlikely to repay. The creditor documents the rules and the Financial Supervision Authority checks them.

Consumer credit compliance documents in Estonia