If the payment is overdue for 90 days, the payment will be overdue. If one party fails to repay the loan at the time agreed in the loan contract, even loans overdue will bear the responsibility of overdue repayment, such as paying liquidated damages and overdue interest. If the financial institution is a lender's loan dispute and the debtor defaults, the losses caused by its default are mainly the interest calculated according to the bank's overdue loan interest rate and the expenses incurred for recovery. If the loan contract is invalid, the invalid contract is invalid from the beginning and there is no breach of contract. Therefore, no matter whether the repayment is overdue or not, the interest loss should be compensated according to the bank's interest rate for similar loans in the same period. If the payment is overdue, a complaint shall be submitted, and corresponding copies shall be submitted according to the number of the other parties. The plaintiff shall submit materials to the court, and the parties shall submit documentary evidence to the court. The filing court shall, within seven days after the parties perform the necessary procedures and submit the relevant evidence materials, rule that the cases that meet the conditions for filing shall not be accepted according to law. The parties concerned shall, within seven days from the date of receiving the notification of acceptance, pay the case acceptance fee and other litigation fees in advance, and the case shall be tried by the court at an alternative date. Legal basis: Article 122 of the Civil Procedure Law of People's Republic of China (PRC) must meet the following conditions: (1) The plaintiff is a citizen, legal person and other organization that has a direct interest in the case; (2) Having a clear defendant; (3) Having specific requests, facts and reasons; (4) It falls within the scope of civil litigation accepted by the people's court and is under the jurisdiction of the sued people's court.

Validation of laws and regulations: June 2024 17