(cc) the risk that the institution may liquidate any collateral provided by guarantors; (dd) whether the borrower and, where applicable, guarantors will continue to be liable for any amount of debt outstanding after any liquidation of collateral, as well as the interest rate to be applied to such debt and the accrual method; (ee) the fact that the declassification of the borrower as cooperating may result in his/her exclusion from favourable treatment specific provisions of legislation (Law 3869/2010 and Law 4354/2015); (b) under Chapter Three, the borrower shall be notified about the fact and the specific reason/s for his classification as non-cooperating at the time of the contract termination or earlier. Appeals Review Process 2. The borrower shall have the right to appeal after his/her classification as non-cooperating, through the procedure established by the institution in accordance with paragraph (e) of Section D. The borrower may have recourse to this step only once per case of implementation of the ARP. CHAPTER TWO ARREARS RESOLUTION PROCEDURE (ARP) FOR CLAIMS ON NATURAL PERSONS AND SELF-EMPLOYED PROFESSIONALS A. ARREARS RESOLUTION PROCEDURE (ARP) FOR NATURAL PERSONS, INCLUDING SELF-EMPLOYED PROFESSIONALS In dealing with cases of borrowers in arrears or pre-arrears, each institution shall apply a procedure involving the following steps: Step 1: Communication with the borrower Step 2: Collection of financial and information Step 3: Assessment of financial data Step 4: Proposal of appropriate solutions to the borrower Step 5: Appeals Review Process.
(cc) the risk that the institution may liquidate any collateral provided by guarantors; (dd) whether the borrower and, where applicable, guarantors will continue to be liable for any amount of debt outstanding after any liquidation of collateral, as well as the interest rate to be applied to such debt and the accrual method; (ee) the fact that the declassification of the borrower as cooperating may result in his/her exclusion from favourable treatment specific provisions of legislation (Law 3869/2010 and Law 4354/2015); (b) under Chapter Three, the borrower shall be notified about the fact and the specific reason/s for his classification as non-cooperating at the time of the contract termination or earlier. Appeals Review Process 2. The borrower shall have the right to appeal after his/her classification as non-cooperating, through the procedure established by the institution in accordance with paragraph (e) of Section D. The borrower may have recourse to this step only once per case of implementation of the ARP. CHAPTER TWO ARREARS RESOLUTION PROCEDURE (ARP) FOR CLAIMS ON NATURAL PERSONS AND SELF-EMPLOYED PROFESSIONALS A. ARREARS RESOLUTION PROCEDURE (ARP) FOR NATURAL PERSONS, INCLUDING SELF-EMPLOYED PROFESSIONALS In dealing with cases of borrowers in arrears or pre-arrears, each institution shall apply a procedure involving the following steps: Step 1: Communication with the borrower Step 2: Collection of financial and information Step 3: Assessment of financial data Step 4: Proposal of appropriate solutions to the borrower Step 5: Appeals Review Process.