According to Article 23 of the Supreme People's Court's Interpretation on Several Issues Concerning the Application of Laws in the Trial of Disputes over Commercial Housing Sales Contracts, it is stipulated in the commercial housing sales contracts that if the buyer fails to conclude a secured loan contract for commercial housing due to the reasons of one party, the other party may request to terminate the contract and compensate for the losses.
If the commercial housing secured loan contract cannot be concluded due to reasons not attributable to both parties, and the commercial housing sales contract cannot be continued, the parties may request to terminate the contract, and the seller shall return the principal of the purchase price and its interest or deposit to the buyer.
Extended information 1. Asking the borrower to provide information related to the loan;
2. According to the borrower's conditions, decide whether to lend, loan amount, term, interest rate, etc.
3. Understand the production and business activities and financial activities of the borrower;
4. Transfer the loan principal and interest from the borrower's account as agreed in this contract;
5. The borrower fails to perform the obligations stipulated in the loan contract, and has the right to require the borrower to repay the loan in advance or stop paying the loan that the borrower has not used;
6. When the loan will suffer or has suffered losses, measures can be taken to protect the loan from losses according to the provisions of the contract.
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