1.   When a credit purchaser does not itself perform credit servicing activities, Member States shall ensure that the appointed credit servicer provides its services in respect of the management and enforcement of a creditor’s rights under a non-performing credit agreement, or of the non-performing credit agreement itself, on the basis of a credit servicing agreement with the credit purchaser.

2.   The credit servicing agreement referred to in paragraph 1 shall provide for the following:

(a)	a detailed description of credit servicing activities to be carried out by the credit servicer;

(b)	the level of remuneration of the credit servicer or how the remuneration is to be calculated;

(c)	the extent to which the credit servicer can represent the credit purchaser in relation to the borrower;

(d)	an undertaking by the parties to comply with the Union and national law applicable to a creditor’s rights under a credit agreement, or to the credit agreement itself, including in respect of consumer and data protection;

(e)	a clause requiring the fair and diligent treatment of the borrowers.

3.   Member States shall ensure that the credit servicing agreement referred to in paragraph 1 contains a requirement pursuant to which the credit servicer notifies the credit purchaser prior to outsourcing any of its credit servicing activities.

4.   Member States shall ensure that the credit servicer keeps and maintains the following records for at least 5 years from the date on which the credit servicing agreement referred to in paragraph 1 is terminated, or for the duration of the statutory limitation period applicable in the home Member State, but in either case for a period of no longer than 10 years:

(a)	relevant correspondence with both the credit purchaser and the borrower, under the conditions provided for under applicable national law;

(b)

relevant instructions received from the credit purchaser in respect of a creditor’s rights under each non-performing credit agreement, or the non-performing credit agreement itself, that it manages and enforces on behalf of that credit purchaser, under the conditions provided for under applicable national law;

(c)	the credit servicing agreement.

5.   Member States shall ensure that the credit servicer makes the records referred to in paragraph 4 available to competent authorities upon request.