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| What is a Cancellation Notice?
Cancellation Notice is also used as cancellation period. It means that there's a given time for you to think about and cancel the already approved loan. The cancellation notice is there in every loan you make.
For example you have been approved to take a loan of an X amount of money. In the contract there's a cancellation period defined. Let's say there's a 7 day cancellation notice, which means you can safely cancel the loan if you wish. | | | | |
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