Each contract between the buyer and a credit services organization for the purchase of the services of the credit services organization shall be in writing, dated, signed by the buyer, and include all of the following:
Terms Used In Utah Code 13-21-7
Buyer: means an individual who is solicited to purchase or who purchases the services of a credit services organization. See Utah Code 13-21-2
Contract: A legal written agreement that becomes binding when signed.
Credit services organization: means a person who represents that the person or an employee is a debt professional or credit counselor, or, with respect to the extension of credit by others, sells, provides, or performs, or represents that the person can or will sell, provide, or perform, in return for the payment of money or other valuable consideration any of the following services:
(i)
improving a buyer's credit record, history, or rating;
(ii)
providing advice, assistance, instruction, or instructional materials to a buyer with regard to Subsection (3)(a)(i); or
a conspicuous statement in bold type, in immediate proximity to the space reserved for the signature of the buyer, as follows: “You, the buyer, may cancel this contract at any time prior to midnight of the fifth day after the date of the transaction. See the attached notice of cancellation form for an explanation of this right.”;
(b)
the terms and conditions of payment, including the total of all payments to be made by the buyer, whether to the credit services organization or to some other person;
(c)
a full and detailed description of the services to be performed by the credit services organization for the buyer, including all guarantees and all promises of full or partial refunds, and the estimated date by which the services are to be performed, or estimated length of time for performing the services; and
(d)
the credit services organization’s principal business address and the name and address of its agent, in Utah, authorized to receive service of process.
(2)
The contract shall be accompanied by a completed form in duplicate, captioned “Notice of Cancellation,” which shall be attached to the contract and easily detachable, and which shall contain in bold type the following statement written in the same language as used in the contract:
