The Consumer Protection Act allows consumers to withdraw from the contract subject to certain conditions, if certain factors are unknown at the time of conclusion of the contract. According to a recent decision of the Supreme Court for Civil Matters, this law doesn’t apply to foreign currency loans – not even by analogy. The consumer knows the exact amount he has to repay – albeit in a foreign currency. Exchange rate fluctuations and other risks are integral parts of such. (1Ob190/16x)
Right of withdrawal for prepay purchases does not apply to foreign currency loans
