The effectiveness of the fund contract is that after the fund raising reaches the statutory conditions, the fund manager needs to go through the fund filing procedures with the the State Council securities regulatory authority, and the fund contract will take effect only after the filing procedures are completed.

legal ground

Article 469 of the Civil Code in force according to 202 1 1.

The parties may conclude a contract in writing, orally or in other forms.

Written form refers to contracts, letters, telegrams, telexes, faxes and other forms that can tangibly express the contents contained.

A data message that can tangibly express its content through electronic data interchange, e-mail, etc. , and can be retrieved at any time, are considered in writing.

Article 502 of the Civil Code

A legally established contract shall come into force upon its establishment, except as otherwise provided by law or agreed by the parties.

In accordance with the provisions of laws and administrative regulations, if the contract should go through the approval procedures, such provisions shall prevail. If the failure to go through the formalities such as approval affects the effectiveness of the contract, it will not affect the performance of the obligation clauses such as approval and the effectiveness of relevant clauses in the contract. If the party that should go through the formalities for approval fails to perform its obligations, the other party may require it to bear the responsibility for violating its obligations.