(a) General requirements. A lessor shall make the disclosures required
by section 213.4, as applicable. The disclosures shall be made clearly
and conspicuously in writing in a form the consumer may keep, in accordance
with this section. The disclosures required by this part may be provided
to the lessee in electronic form, subject to compliance with the
consumer-consent and other applicable provisions of the Electronic
Signatures in Global and National Commerce Act (E-Sign Act) (15 USC
7001 et seq.). For an advertisement accessed by the consumer in electronic
form, the disclosures required by section 213.7 may be provided to
the consumer in electronic form in the advertisement, without regard
to the consumer-consent or other provisions of the E-Sign Act.
(1) Form of disclosures. The disclosures required by section 213.4 shall be given to the
lessee together in a dated statement that identifies the lessor and
the lessee; the disclosures may be made either in a separate statement
that identifies the consumer lease transaction or in the contract
or other document evidencing the lease. Alternatively, the disclosures
required to be segregated from other information under paragraph (a)(2)
of this section may be provided in a separate dated statement that
identifies the lease, and the other required disclosures may be provided
in the lease contract or other document evidencing the lease. In a
lease of multiple items, the property description required by section
213.4(a) may be given in a separate statement that is incorporated
by reference in the disclosure statement required by this paragraph.
(2) Segregation of certain disclosures. The
following disclosures shall be segregated from other information and
shall contain only directly related information: section 213.4(b)
through (f), (g)(2), (h)(3), (i)(1), (j), and (m)(1). The headings,
content, and format for the disclosures referred to in this paragraph
(a)(2) shall be provided in a manner substantially similar to the
applicable model form in appendix A of this part.
(3) Timing of
disclosures. A lessor shall provide the disclosures to the lessee
prior to the consummation of a consumer lease.
(4) Language
of disclosures. The disclosures required by section 213.4 may
be made in a language other than English provided that they are made
available in English upon the lessee’s request.
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(b) Additional information; nonsegregated
disclosures. Additional information may be provided with any
disclosure not listed in paragraph (a)(2) of this section, but it
shall not be stated, used, or placed so as to mislead or confuse the
lessee or contradict, obscure, or detract attention from any disclosure
required by this part.
(c) Multiple lessors or lessees. When a transaction involves more
than one lessor, the disclosures required by this part may be made
by one lessor on behalf of all the lessors. When a lease involves
more than one lessee, the lessor may provide the disclosures to any
lessee who is primarily liable on the lease.
(d) Use of estimates. If an amount or other
item needed to comply with a required disclosure is unknown or unavailable
after reasonable efforts have been made to ascertain the information,
the lessor may use a reasonable estimate that is based on the best
information available to the lessor, is clearly identified as an estimate,
and is not used to circumvent or evade any disclosures required by
this part.
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(e) Effect of subsequent
occurrence. If a required disclosure becomes inaccurate because
of an event occurring after consummation, the inaccuracy is not a
violation of this part.
(f) Minor variations. A lessor may disregard
the effects of the following in making disclosures:
(1) that payments must be collected in
whole cents;
(2) that
dates of scheduled payments may be different because a scheduled date
is not a business day;
(3) that months have different numbers of days; and
(4) that February 29 occurs in a leap year.
