New service helps resolve online-lending disputes

Source :Qianhai Media Center

An online notarization service recently launched in Qianhai offers an easy and cost-effective solution to the litigation and enforcement of Internet financial cases, which have been known for its costliness and lengthiness.

The first of its kind in Guangdong Province, the online notarization service, offered by Qianhai Notary Office in partnership with a local Internet-based lender, mucfc.com., targets disputes related to online lending.

The Qianhai Notary Office will notarize online the electronic lending contracts signed between a financial institution and a borrower and mandatory execution of the digital notarization is granted. In case either party fails to fulfill an electronic lending contract, a digital notarization certificate produced by the Qianhai Notary Office will be delivered to the court for execution.

Compared with the traditional handling of online lending disputes, the online notarization service is cost-effective and more efficient, especially in the handling of such disputes in bulk. It has effectively addressed the difficulties of litigation and enforcement of Internet financial disputes.

Yang Qing, general manager of mucfc.com, said at the launch ceremony that the service is an innovative practice that will push forward the construction of the financial rule of law in Qianhai.

“It helps regulate the consumer financial market, restrict dishonest behaviors and improve the social integrity mechanism,” he said.

The service is another innovative move of the Qianhai authority’s commitment to creating a law-based business environment in the free trade area.

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2020-05-11 10:20:00

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