Judicial Arbitration of True and False Microfinance

Legal analysis: this is an online loan and usury, which is not protected by law. If it is a lawsuit, the court will directly serve the litigation documents and subpoenas, and you need to sign for them, rather than SMS notification.

Legal basis: Arbitration Law of People's Republic of China (PRC).

Article 21 A party applying for arbitration shall meet the following conditions:

(1) There is an arbitration agreement;

(2) There are specific arbitration claims, facts and reasons;

(3) It falls within the scope of acceptance by the Arbitration Commission.

Article 30 An arbitration tribunal may be composed of three arbitrators or one arbitrator. It is composed of three arbitrators, with a presiding arbitrator.

Article 39 Arbitration shall be conducted in court. If the parties agree not to hold a hearing, the arbitration tribunal may make an award based on the arbitration application, defense and other materials.