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Any discrepancies or differences that may arise in translations of the official Portuguese versions of these materials are not binding and have no legal effect for compliance or enforcement purposes.

Decree Law No. 95/2006

Publication: Republic Diary No. 103/2006, Series I of 2006-05-29
  • Issuer: Ministry of Finance and Public Administration
  • Diploma Type: Decree Law
  • Number: 95/2006
  • Pages: 3577 - 3584

Summary in plain english

What is it?

This decree-law establishes the legal scheme applicable to distance contracts regarding financial services entered with consumers.

Distance contracts are membership contracts (e.g. an application for credit).

What is going to change?

The consumer will now be able, at any time during the contract, to change the means of distance communication used, provided that this change is compatible with the contract entered.

A consumer who is provided with unsolicited distance financial services will no longer be subject to any obligation in relation to those services.

Termination of the contract

The consumer will now be able to terminate the distance contract without giving any reason and without compensation from the consumer.


The period for terminating the contract will be 14 days, excluding life insurance contracts, where the period will be 30 days.

You may terminate the contract when it has been fully performed at the consumer's request.

It is the responsibility of Bank of Portugal, the Securities Market Commission and the Insurance Institute of Portugal to comply with the rules of the contracts.


The right to terminate the contract shall expire within five years.

What are the advantages?

This decree-law ensures greater protection for the consumer to the extent that:

    • the use of the Portuguese language is mandatory;
    • the consumer has the right to terminate the contract without having to justify the reasons for doing so and is exempt from paying compensation.
When does it enter into force?

This decree-law entered into force on 28 June 2006.

Original Version


  • Legal translator is the translation of texts within the field of law


Legislative consolidation integrates the various amendments and rectifications made into an original legal diploma in order to make its consultation more accessible to the citizen.