Guam § 57104 - Rental Purchase Disclosures.

§ 57104. Rental Purchase Disclosures.

For each rental-purchase agreement, the merchant shall disclose to the

consumer, to the extent applicable, under the agreement the following:

(a) the total amount of the first periodic payment and the total

amount of advance payments, delivery charges, trade-in allowances,

fees, taxes or other charges which may be required at or before the date

of consummation of the agreement.

(b) the amount and timing of rental payments;

(c) the total number and the total dollar amount of rental

payments and other charges necessary to acquire ownership of the

property;

(d) a statement that the consumer will not own the property until

the consumer has paid the total dollar amount necessary to acquire

ownership;

(e) a disclosure that the total dollar amount payments does not

include certain other charges;

(f) a statement that the consumer may be responsible for the fair

market value of the property if it is lost, stolen, damaged or destroyed;

(g) a statement indicating whether the property is new or used,

except a statement indicating that new property is used property is not

a violation of this Chapter;

(h) A statement of:

(1) the manufacturer's suggested retail price, where

applicable, or

(2) the price for which the property is available from the

merchant in a cash sale;

(i) a clear statement of the terms of the consumer's option to

purchase;

(j) a statement:

(1) identifying the party responsible for maintaining or

servicing the property while it is being rented;

(2) describing the responsibility for maintenance or service

of the rental property; and

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(3) disclosing that if any part of a manufacturer's express

warranty covers the property at the time the consumer acquires

ownership of the property, the warranty will be transferred to the

consumer if allowed by the terms of the warranty;

(k) the date of consummation of the transaction and the identities

of the merchant and consumer; and

(l) late fees for past due rental charges.