Legal basis: the full text of the General Rules for Loans of the People's Bank of China.
Twenty-fifth lenders independently review and decide on loans, and have the right to refuse any legal person, other organization or natural person to force them to issue loans.
Article 26 The lender shall announce the types, term and interest rate of the loans it operates, and reply whether to accept the borrower's loan application within 30 days from the date of receiving the loan application.
Twenty-seventh lenders should keep the borrower's account, assets, financial status and other business secrets and personal privacy. Unless otherwise provided by law or otherwise agreed by the parties.
The lender has the right to take legal measures to inquire about the information provided by the borrower, and to submit the borrower's financial statements or collateral and pledge to an institution recognized by the lender for audit or evaluation.
Article 28 If the borrower fails to fulfill the obligations stipulated in the loan contract, the lender may stop issuing loans, recover part or all of the loans in advance or terminate the loan contract as agreed in the contract.
When the borrower fully performs the loan contract, if the lender fails to provide the loan in full and on time as agreed in the contract, it shall bear the liability for breach of contract as agreed in the contract and bear the losses caused by a bona fide third party.
Article 29 The Lender has the right to take measures to prevent loan losses according to the law or the agreement in this contract.
When the borrower fails to repay one or more loans of one or more lenders as agreed in the contract, all lenders may require him to repay in advance as agreed in the contract.