Negotiation settlement means that both parties of creditor's rights and debts directly negotiate or invite a third party to mediate to resolve disputes on the basis of voluntariness and mutual understanding. When the creditor's right expires or is about to expire, if the debtor is unable to repay the debt temporarily but has the sincerity to repay it, the creditor may negotiate on the time limit, method and amount of debt performance equal to the debtor, and urge the debtor to perform the debt or sign a repayment agreement. If creditors don't want to harm harmony and solve debt disputes quickly, they can submit a written mediation application to the local people's mediation Committee.
According to the "Several Provisions on People's Mediation Work" promulgated by the Ministry of Justice, the application for mediation shall meet the following conditions:
1, with clear basic information of the applicant, such as citizen and legal person;
2. There are specific mediation requirements. Whether the respondent is required to fulfill the repayment obligation, etc. ;
3. The application for mediation has factual basis, such as loan contract and guarantee agreement;
4. This dispute belongs to the acceptance scope of the people's mediation committee. After reaching an agreement through mediation, the debtor shall perform its obligations as agreed. This Agreement shall not be altered or dissolved without authorization. After signing the agreement, the debtor repented or partially repented. Creditors may bring a lawsuit to the people's court. Request the other party to perform the mediation agreement.
Article 675 of the Civil Code of People's Republic of China (PRC), the borrower shall repay the loan within the agreed time limit. If the term of the loan is not agreed or clearly agreed, and cannot be determined according to the provisions of Article 510 of this Law, the borrower may return it at any time; The lender may urge the borrower to return it within a reasonable period of time.
Article 671 Where the lender fails to provide the loan on the agreed date and amount, thereby causing losses to the borrower, it shall compensate for the losses.
If the borrower fails to collect the loan according to the agreed date and amount, it shall pay interest according to the agreed date and amount.