According to Article 201 of People's Republic of China (PRC) Contract Law, 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; If the lender fails to provide the loan according to the agreed date and amount, it shall compensate the borrower for its losses.

According to Article 207 of People's Republic of China (PRC) Contract Law, if the borrower fails to repay the loan within the agreed time limit, it shall pay the overdue interest in accordance with the agreement or the relevant provisions of the state. If the borrower repays the loan in advance, unless otherwise agreed by the parties, the interest shall be calculated according to the actual loan period.

If the loan contract between natural persons does not stipulate or clearly stipulates the payment of interest, it shall be regarded as non-payment. If the loan contract between natural persons stipulates to pay interest, the loan interest rate shall not violate the relevant provisions of the state on limiting the loan interest rate.

Extended data:

1. In any of the following circumstances, the rights and obligations of the contract shall be terminated:

(a) The debt has been performed in accordance with the contract;

(2) Termination of the contract;

(3) The debts offset each other;

(4) The debtor shall deposit the subject matter according to law.

(5) Exempting creditors from their debts;

(6) Creditor's rights and debts are owned by one person;

(seven) other circumstances stipulated by law or agreed by the parties to terminate.

2. After the termination of contractual rights and obligations, the parties shall follow the principle of good faith and perform the obligations of notification, assistance and confidentiality in accordance with trading habits. The parties may terminate the contract if they reach an agreement through consultation. The parties may stipulate the conditions for one party to terminate the contract. When the conditions for contract termination are met, the creditor may terminate the contract.

China Government Network-People's Republic of China (PRC) Contract Law