Nowadays, many young people are used to spending in advance and will apply for loans online. The development of the Internet has also provided a lot of convenience, and a mobile phone can easily apply for a loan. We know that the loan will definitely be countersigned, so is the electronic contract of online loan valid? Is it protected by law as a borrower? Let's get to know each other.
Is the online loan electronic contract valid?
It is effective, but there are preconditions, and not all electronic contracts are protected by law.
1, lending institution
According to the existing regulations, only licensed institutions can engage in lending business. If the lending institution itself has no legal business qualification, the legitimacy of its business will be greatly reduced, and some problems may arise. Therefore, before applying for a loan, everyone must keep their eyes open and choose a formal financial lending institution.
2. Electronic signature method
Some contracts need to be signed online, while others don't. Need to ensure that it is my signature and the electronic signature has not been tampered with. The digital certificate (reliable electronic signature) provided by a legal CA must be used to sign an electronic contract, which is unrecognizable by ordinary borrowers, leading to many institutions' illegal operations.
3. Third party platforms
Only by signing an electronic contract through a third-party signing platform can the fairness of the process and the effectiveness of the results be guaranteed. China's Ministry of Commerce's "Process Specification for Online Electronic Contract Making" points out: "Only through the electronic contract making system of the third party (electronic contract service provider) can the fairness of the process and the effectiveness of the results be guaranteed."
How to treat online loan electronic contract? These two points are very important!
Now online loans and mobile loans are very common. General credit products can log in to online banking or APP, fill in personal basic information, authorize credit investigation, upload the required application materials, and wait for approval after submission. Formal loans need to sign contracts, and online loans naturally sign electronic contracts. So what should we think? Today, let's make a brief introduction.
1. Check before lending
I believe that users with loan experience know that when applying for any loan, they need to check the agreement/bill/contract before submitting the application. Many people often overlook this point. Only after the loan is successful, they find that the electronic contract has been shown to you, and most people don't click to view it. This is not right. If an electronic contract is checked or signed, it is generally valid and does not infringe upon a third party.
Therefore, you must read the electronic contract before lending, and make clear the obligations and responsibilities of both parties before applying.
2. How effective do you think electronic contracts are?
Because many people have no legal background, they will not recognize whether the contract is legal or not. To put it simply, first of all, lending institutions must be formal. If it is illegal, then the contract has no legal effect.
Another effective electronic contract needs three guarantees: clear subject, unchangeable, and unchangeable contract time.
According to Article 22 of the peer-to-peer lending Regulations, "in peer-to-peer lending, when all parties participate in the business activities of information intermediaries and need to use electronic signatures and electronic authentication for the basic information and transaction information of lenders and borrowers, they should abide by the provisions of laws and regulations to ensure the authenticity and integrity of data and the legal effect of electronic signatures and electronic authentication."
Does the electronic loan contract have legal benefits?
Yes Electronic contracts have the same legal benefits as paper contracts, but not all electronic contracts signed in any form are legal and effective. It must be signed by a third-party electronic contract platform and signed by a reliable electronic signature to ensure its legitimacy and effectiveness. Only by locking the true identity of the signing subject, effectively preventing document tampering and accurately recording the signing time can the electronic contract be legally recognized. Article 119 of the Civil Code A contract established according to law is legally binding on the parties.
Where can I get an electronic loan contract?
If there is an electronic loan contract, the lender can access the relevant mobile phone software to inquire about the loan contract information. In case it cannot be found, the lender can contact the customer service of the lending institution to see where the electronic contract can be found and whether it can be obtained.
The loan contract is very important to the lender. Lenders must pay attention to whether the key information such as loan amount, loan method, loan term and loan interest rate are consistent with previous consultations. If you have any questions, you should also communicate with the lending institution in time.