In relation to consumer credit contracts, the National Credit Code provides for:

Question

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The National Credit Code provides for all of the above, namely the rights and obligations of the parties, full disclosure of the true cost of the credit provided, relief for hardship, and reopening of unjust transactions. The Code aims to protect consumers from unfair credit practices and ensure that lenders act in a responsible and ethical manner. It sets out clear rules and standards for credit providers and borrowers alike, and establishes mechanisms for resolving disputes and addressing complaints. As such, it plays an important role in promoting financial stability and consumer confidence in the credit market.

In Relation to Consumer Credit Contracts, the National Credit Code