The withdrawal period is the legal period where the credit applicant can retract the loan offer (the prior credit offer) after signing his contract to cancel his credit application.
Set up thanks to the Scrivener law which imposed on banks credit organizations a withdrawal period of 7 days (14 days in the context of a distance sale) since 1 but 2011 the withdrawal period has been extended to 14 days following the application of the Lagarde law.
Good to know: if the last day of the withdrawal period is a Saturday, Sunday or a public holiday, the period extends until the next working day.
In the context of a credit, the withdrawal period runs once the prior loan offer has been signed. The borrower can still retract during the following 14 days (3 days at his express request for an affected credit whose financing is immediate).
It is possible to reduce the withdrawal period for faster credit in the case of credits taken out for products with immediate delivery.
With a written mention of your hand on the contract you can reduce the withdrawal period to the delivery date while ensuring that it is not less than 3 days nor more than 14 days.
The text to be written is available on the official administration website: service-public.fr
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