WALLESS assisted ALD Automotive, SIA in developing consumer car rental (leasing) product

ALD Automotive, SIA has developed a new consumer car rental (leasing) product.
ALD Automotive is a Latvian fleet management and operational car leasing company of Société Générale group. ALD Automotive companies operate in 43 countries and it is among the largest fleet managemen and operational car leasing companies in the world.
The complexity of the assignment consisted in creation of an optimal product for the company and consumers alike while ensuring full compliance with the strict legal requirements governing consumer credit agreements. Consumer protection laws provide for a detailed and complex framework of the rights and obligations of providers of consumer credit along with various exemptions. WALLESS advised ALD Automotive, SIA on such issues as licencing requirements for providers of consumer credit, assessing the creditworthiness of the consumer, rights of withdrawal and other complex consumer law issues. The services of WALLESS included preparation of the request to the Consumer Rights Protection Centre, government institution in charge of supervision of operation of providers of consumer credit.