مصطلح التحفيز يشير إلى العملية التي تحفز الأفراد أو الجماعات على اتخاذ إجراءات معينة أو تحقيق أهداف معينة. يمكن أن تتضمن مصادر التحفيز عوامل داخلية، مثل الرغبة في تحقيق الذات أو تحسين المهارات، أو عوامل خارجية، مثل المكافآت المالية أو التقدير من الآخرين. التحفيز يعزز الطاقة والدافع للعمل ويؤثر بشكل كبير على الأداء والنجاح في مختلف المجالات، سواء كانت تعليمية أو عملية أو شخصية.

The term “triggering terms” refers to a word or phrase that legally requires one or more disclosures when used in advertising. Triggering terms are defined under the Truth in Lending Act (TILA) and are designed to protect consumers from deceptive lending practices.

Definition and Examples of Triggering Terms

Triggering terms are words or phrases that must be accompanied by disclosures when used in advertisements. The requirements for triggering terms are directed based on the product being advertised. Triggering terms are mandated under the Truth in Lending Act (TILA).

For example, when advertising closed-end credit products like mortgages or auto loans, lenders must disclose when mentioning the following triggering terms:

• The amount or percentage of any down payment: for example, “20% down payment” or “70% financing.”
• The number of payments: for example, “monthly payments under $100” or “only 15% to pay each month” or “$12 a month.”
• The repayment term: for example, “10 years to repay” or “24 months to repay” or “5-year loans available.”
• The amount of any payment: for example, “you will make only 24 small payments” or “36 monthly payments and you’ll have paid it all off.”
• The amount of any financing charges: for example, “financing cost is less than $500” or “interest under $200” or “financing of $250.”

Open-end credit products like HELOCs include triggering terms covered under Subpart B of the Truth in Lending Act (TILA), which details triggering terms such as:

• Information regarding when financing charges begin to accrue
• An explanation of any time period allowed for repayment of the outstanding balance without incurring financing charges
• The annual percentage rate or any other periodic rate
• Any explanation of how the balance is determined
• Financing charges that may be imposed
• Any explanation of how any financing charges are determined

Note: Both positive (e.g., “12% APR”) and negative (“no interest for three months”) references to triggering terms for open-end credit products like HELOCs require disclosures.

How Do Triggering Terms Work?

The way triggering terms work depends on the specific products being regulated. In general, if one of these terms is used in an advertisement, the provider must also include one or more mandatory disclosures. The Truth in Lending Act (TILA) requires that these disclosures be “clear and conspicuous” so that unethical lenders cannot attempt to hide or use confusing language.

For example, if a lender uses one or more of the triggering terms mentioned above in a mortgage advertisement, the advertisement must also include:

• The amount or percentage of the down payment.
• The full terms of repayment over the life of the loan, including any required balloon payment.
• The annual percentage rate of the loan (using those specific words) and whether this rate can increase during the life of the loan.

However, disclosure is not required when a lender uses phrases that are not defined as triggering terms for closed-end credit products, such as:

• No down payment
• 10% APR rate
• Loans available at a rate lower than our standard rate
• Easy monthly payments
• Loans at 10% lower than our standard rate
• Pay every week
• There are terms to fit your budget
• Financings available

What Do Triggering Terms Mean for You?

Triggering terms exist to protect consumers and to make it easier to compare loans and mortgages. If you encounter a lender using triggering terms without including the legally required disclosures, be cautious.

Triggering terms can make understanding key elements of the loan, such as repayment terms and whether the annual percentage rate is adjustable or fixed, easier. Reading and fully understanding the disclosures can help you see how much borrowing that money will cost you in the long run, so you can choose a credit product that fits your needs. Ignoring the disclosures may mean you will end up spending more than you had planned on interest and fees.

Source:

https://www.thebalancemoney.com/what-is-a-triggering-term-5198081

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