French Commercial code
In forceI.-On pain of nullity, the act of renunciation provided for by article L. 526-25 of the French Commercial Code shall contain the following information concerning the sole trader renouncing the protection of his personal assets and the beneficiary of the renunciation:
1° With regard to the sole trader renouncing protection of his personal assets:
. a) The sole trader's name at birth, surname at use, forenames, nationality, date and place of birth and domicile;
b) The professional activity or activities and, if used, the trade name and sign as well as the numbers and codes characterising the activity or activities referred to in 1° to 3° of article R. 123-223;
c) The address of the main establishment where the professional activity is carried out or, if there is no establishment, the address of the residential premises where the company is based;
d) The company's unique identification number, issued in accordance with article D. 123-235 if the entrepreneur is already registered, or, where this is prior to the date of registration, the declared date of commencement of activity;
2° With regard to the beneficiary of the surrender:
a) If the beneficiary of the waiver is a natural person:
-the birth name, surname, forenames, date, place of birth and domicile of the beneficiary of the waiver;
-where applicable, the professional activity or activities carried out, the address of the main establishment where the professional activity is carried out or, in the absence of an establishment, the address of the residential premises where the business is based and, if used, the commercial name and sign as well as the numbers and codes characterising the activity or activities referred to in 1° to 3° of article R. 123-223 and the unique company identification number issued in accordance with article D. 123-235;
b) If the beneficiary of the waiver is a legal entity:
-the company name or corporate name, followed, where applicable, by the acronym and the legal form;
-the address of the registered office or place of business or, failing that, the address of the residential premises where the company is established;
the company's unique identification number, issued in accordance with article D. 123-235;
> -the indication that the beneficiary of the loan has been registered with the company in accordance with article D. 123-235; and -the indication that the beneficiary of the waiver is a credit institution or finance company within the meaning of Article L. 511-1 of the Monetary and Financial Code.
II -Under the same penalty, the waiver must contain the following information about the commitment for which the waiver is requested:
. 1° The date of the undertaking;
> The subject of the undertaking 2° The purpose of the commitment;
3° The due date of the commitment, i.e. the contractual date set for full repayment of the sums due under the commitment, it being specified that this date may be extended either by agreement between the parties or by a court decision;
The amount of the commitment 4° The amount of the commitment or the factors enabling it to be determined; once these factors have been specified in the waiver, they definitively set the maximum amount for which the same waiver is valid;
The date on which the waiver is requested 5° The date on which the waiver is requested;
III. III -The beneficiary of the waiver informs the sole trader of the consequences of the waiver on his assets and liabilities.
IV -Where the sole trader is the beneficiary of the waiver, the sole trader is informed of the consequences of the waiver on his assets and liabilities. IV -Where the sole trader and the beneficiary of the waiver intend to reduce the cooling-off period at the end of which the waiver takes effect, under the conditions set out in the second paragraph of article L. 526-25, the waiver deed must bear the following handwritten note by the sole trader: "I hereby declare that I waive the benefit of the cooling-off period of seven clear days, set in accordance with the provisions of article L. 526-25 of the French Commercial Code. Consequently, this period is reduced to three clear days. "
V.-On pain of nullity, the sole trader and the beneficiary of the waiver must sign the deed, as well as the date and place. Use may be made of a qualified electronic signature meeting the requirements of decree no. 2017-1416 of 28 September 2017 relating to electronic signatures.
