About the legality of private lending between investors and lenders: clear and legal

According to Article 196 of the "Contract Law", "A loan contract is a loan from the borrower to the lender. "A contract to repay the loan and pay interest on time", the "Contract Law" allows lending relationships between ordinary civil entities, and allows the lender to recover the principal and interest in compliance with the law when it expires.

About the legality of the intermediary matching services provided by Weidai.com: clearly legal

According to the provisions of Chapter 23 of the "Contract Law" on "intermediary contracts", especially Article 424 "An intermediary contract is a contract in which the intermediary reports the opportunity to conclude a contract to the principal or provides intermediary services for entering into the contract, and the principal pays remuneration." Weidai.com provides intermediary services for private lending that bring together borrowers and lenders to form a lending relationship. It has a clear definition Legal basis.

About the legality and enforceability of electronic contracts: The current law clearly determines the validity of the contract

According to the provisions of the "Electronic Signature Law", contracts or other documents in civil activities, For documents and other documents, the parties may agree to use electronic signatures and data messages. Just because a contract uses electronic signatures or data messages cannot negate its legal validity. At the same time, the "Electronic Signature Law" also stipulates that a reliable electronic signature has the same legal effect as a handwritten signature or seal. It is clearly affirmed that a qualified electronic signature has the same effect as a handwritten signature or seal.

About the legality of the lending investment income obtained by investors on Weidai.com: it is legal income and protected by law

According to the Supreme People's Court's "Several Issues Concerning the Trial of Lending Cases by the People's Courts" Article 6 of the Opinion: "The interest rate for private lending can be appropriately higher than the interest rate of banks. The people's courts in various places can determine the specific situation based on the actual conditions of the region, but the maximum cannot exceed four times the interest rate of similar loans from banks, (including the interest rate in this paragraph) . If this limit is exceeded, the excess interest will not be protected. "The current one-year benchmark loan interest rate of the People's Bank of China is 6.00%, so four times the current benchmark loan interest rate is 24.00%, and the investment income of Weidai.com is lower than 24.00%. , is legitimate interest income and is protected by law. The first-class professional team in the industry

The Wedai.com financial service platform is composed of elite talents from domestic financial service institutions, leaders in various industries such as law, e-commerce, and economic research, as well as senior operators who have successfully operated multiple profitable projects. Team composition. It has a first-class review and risk control team and a complete risk management and control system to comprehensively protect the interests of investors in terms of systems, processes, and systems.

Double prevention and control to avoid transaction risks

The first level: strict loan review process

All loan users or lenders need to conduct detailed online and on-site due diligence, credit rating through credit risk analysis. At the same time, a complete and rigorous risk management system has been established, including pre-event review, mid-event review and post-event management to control the risk of overdue loan defaults.

Loan enterprises must meet the following access thresholds:

1. Operations are legal and compliant (business license, tax registration certificate, organization code certificate, etc.);

2. Have a fixed business location (rent contract, etc.);

3. Stable cash flow and good financial status (bank cash flow, financial statements, etc.);

4. Provide Reasonable loan purpose and stable source of repayment (purchase and sales contract, etc.);

5. Have certain repayment protection measures (not limited to mortgage/pledge, guarantee, etc.).

The second level: effective guarantee measures

The investment services released by Weidai.com will undergo strict internal review by Weidai.com and professional institutions, and third-party guarantee companies will be sought to provide them. guarantee. All investment projects are guaranteed by professional financial institutions, and loan entities provide mortgages, pledges and other guarantee measures to ensure the safety of investors' principal and income.

100% Principal and Interest Protection Plan

What is a Principal and Interest Protection Plan?

The "Principal and Interest Protection Plan" is a risk protection mechanism established by Weidai.com to protect the common rights and interests of all investors on the platform. After all investors on the platform have been authenticated by the platform, their investment behavior on the platform is applicable to the "Principal and Interest Protection Plan", and investors do not need to pay any fees for this.

How does the principal and interest protection plan work? "Risk reserve account" refers to a special account opened separately and managed by Weidai.com in the name of Weidai.com for the common interests of all investors it serves, serving the Weidai.com platform. Principal and interest protection plan.

When the borrower repays overdue, the Wedai.com platform will withdraw corresponding funds from the account in accordance with the "Risk Reserve Account Fund Usage Rules" to repay the principal and interest amount that should be charged by the investor. . Enterprise-level data security assurance

Adopt enterprise-level data security technical means to ensure data security and continued normal operation of equipment. Server and data isolation is adopted to achieve business continuity and disaster recovery and avoid data loss.

The highest security level encryption technology of financial institutions

Strictly implement the information confidentiality system and adopt 128-256-bit mandatory encryption technology. Customers are conducting membership management, personal account management, recharge, cash withdrawal, etc. When handling sensitive information, the information is automatically encrypted before being sent securely over the Internet.

File integrity verification monitoring

Establish file integrity verification monitoring and control to prevent user information from being tampered with or deleted.