If you are providing a combined disclosure, what must it contain?

A combined disclosure must contain all the information that is necessary for the recipient to fully understand both the receipt of the transaction and any associated pre-payment disclosures. This means it needs to include the same contents as a typical receipt, which outlines the details of the transaction, as well as the elements involved in the pre-payment disclosures, which typically highlight essential terms, conditions, and any fees or obligations associated with a financial product or service.

Incorporating proof of payment ensures transparency and confirms that the transaction has been completed, allowing for a clear record that the payment was indeed made as per the agreement. Thus, a combined disclosure effectively serves both to inform the user of what they have received and to provide proof of the transaction, fostering trust and clarity in the dealings between parties. This holistic approach to documentation is important for compliance with regulations that govern financial transactions.