Legally speaking, as long as there are formal industrial and commercial channels, there are many such private financial institutions, which are the supplements of banks. After deducting the high handling fee, 0/00% of the business of the microfinance company/KLOC-is illegal, and it will be punished if it complains in the future. China Banking Regulatory Commission, Ministry of Public Security and other seven ministries jointly issued a notice. No beheading interest is allowed. The identification standard is that the loan principal is inconsistent with the actual amount, and it is charged before or at the same time as the loan is issued.

legal ground

Article 490 of the General Principles of the Civil Law of People's Republic of China (PRC) (hereinafter referred to as the Civil Law) states that if the parties conclude a contract in the form of a contract, the contract is established when the parties sign, seal or press their fingerprints. Before signing, sealing or fingerprinting, one party has fulfilled its main obligations, and the contract is established when the other party accepts it.

A contract shall be concluded in written form as stipulated by laws, administrative regulations or agreed by the parties. If the parties do not do this in writing, but one party has fulfilled its main obligations and the other party accepts it, the contract is established.