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Insurance Policyholder

In an insurance contract, one party pays the premium while the other pays a certain amount of coverage or other benefits upon occurrence of an uncertain event against the former's property, life, or body. In this content, it provides the types of insurance, the means of concluding insurance contracts, precautions taken thereon, and the effects of the insurance contract closure, and the procedures for requesting the insurance coverage when an insurance accident occurs, as well as how to request the insurance benefits when an insurance contract expires. Further, it provides information in greater detail on the revocation, withdrawal, and termination of insurance contracts by policyholders and insurance carriers, as well as how to resolve insurance contract disputes.

Protection of Financial Consumers

This content provides easy-to-understand legal information on the introduction of financial products for general financial consumers, financial consumer rights such as the right to request interest rate reductions, the use of financial transactions such as return of erroneous remittances, depositor protection systems because of the bankruptcy of financial institutions, and the resolution of financial disputes through mediation.

Loan Agreement

When preparing an Agreement for Consumer Cash Loan, the lender must verify that the borrower’s identity is properly specified in the promissory note. It is advisable for the lender to carry out due diligence regarding the borrower’s financial status and enter into a collateral agreement to take security for the loan. It is also advisable that the promissory note be notarized for its evidential admissibility and for safekeeping.
When preparing an Agreement for Consumer Cash Loan, the borrower must verify that the lender’s identity is properly specified in the promissory note. It is advisable that the promissory note be notarized for its evidential admissibility and for safekeeping. Meanwhile, if the borrower makes repayment in due course, he or she must receive a receipt from the lender and keep the receipt for a reasonable period of time to prevent double repayment of the same loan. The borrower should beware of illegal debt collection.

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