The approved loan shall be signed by the loan applicant and the microfinance institution. In the process of signing a loan contract, attention should be paid to:
First, the rigor of the contract, that is, the content of the loan contract should be strict and complete. In addition to the loan amount, term, interest rate, collateral, guarantor and other necessary conditions, the contract should also contain necessary additional conditions.
Second, the clarity of the contract, the words should be simple and easy to understand, and the common language of compound legal norms should be used.
Third, the accuracy of the contract, all the terms of the contract must be accurate and specific.
Fourth, the legality, format and language of the contract must conform to the laws and regulations of the state.
After the signing of the contract, the handling bank shall go through the formalities of issuing credit business according to the effective time of the loan contract.