A hire purchase agreement allows consumers the privilege to have the use of the items while paying for them.

Before entering into a hire purchase arrangement, be sure you can honour all contractual agreements for goods you intend to purchase.

A hire purchase agreement should contain:

• Cash Price
• Hire Purchase Price
• Details of Installments
• Rates of Interest
• Identification of Goods
• Name and Address of the Hirer

The country's legislation seeks to protect consumers by stipulating the following:

1) Consumers should be given sufficient information about the terms and conditions of the agreement.

2) If seventy percent (70%) of the price of the goods has been paid, the trader cannot repossess the goods without the consumer's consent or obtaining a court order.

3) If the goods are repossessed at this stage, the agreement has ended and the consumer is released from all liability under the agreement, and should recover from the owner all sums paid to the owner under the contract.

4) When less than 70% is paid and the consumer is in arrears, the trader can repossess without a court order. The consumer may lose both the item as well as all monies paid previously.

For further information on this and other related matters, contact - Prices and Consumer Affairs Division Redcliffe Street & Corn Alley. Telephone: 462-4347 or 562-2732/3.