#VLOL2536873AApproval of standard agreements for the Renovation Guarantee Fund
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This order approves the standard contracts that banks, finance companies, third-party financing firms, and mortgage guarantee bodies must use to access France’s Renovation Guarantee Fund. The fund backs individual zero-interest eco-loans and certain renovation-related mutation loans, and also provides counter-guarantees for selected collective condominium loans. In practice, lenders and guarantors that want the fund’s protection must follow the reporting, claims, payment, and control rules set out in the annexes. The text is mainly operational. It sets deadlines for quarterly reporting, monthly financial settlements, document exchanges through an extranet, and on-site or paper-based audits by FGAS, the fund manager. It also defines sanctions for errors or breaches, including warnings, financial penalties, loss of coverage, repayment of indemnities, and in serious cases termination of the agreement.
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Key Changes
- Approves the standard agreements needed to use the Renovation Guarantee Fund.
- Sets the reporting, payment, and information-sharing rules for lenders and guarantors.
- Adds audit powers and sanctions, including fines, loss of coverage, and contract termination.
Obligations
What this law requires
Lenders that want to benefit from the Fonds de garantie pour la rénovation (FGR) must sign the standard convention with the State and FGAS before using the FGR guarantee for eligible Eco-PTZ individuels or prêts avance mutation.
Lenders wishing to benefit from the FGR guarantee for eligible Eco-PTZ or prêts avance mutation must sign the convention with the State and FGAS, as the scheme is only available under that contractual framework.
Eligible lenders must transmit the quarterly file of outstanding prêts avance mutation through the extranet no later than the 15th day of the first month of the following quarter, or the previous business day if the 15th is not a business day.
The lending institution must transmit the quarterly loan-outstanding file for prêts avance mutation via the extranet no later than the 15th day of the first month of the following quarter, or the previous working day if the 15th is not a business day.
If no quarterly loan-outstanding declaration is filed, the institution must respond to the FGAS reminder generated from the 15th day of the first month of the following quarter onward and correct the missing filing.