Responsibility of Party A. 1. If Party A releases the the entrusted loan without authorization from Party B or exceeded in the amount released, it shall be liable for its act in excess of authority. 2. If, without due cause, Party A refuses to execute the fund releasing notification from Party B, then Party B has the right to demand Party A to correct its conduct within a prescribed limit of time or terminate the entrusting matter.
Appears in 2 contracts
Sources: Entrusted Loan Contract (China Internet Nationwide Financial Services, Inc.), Entrusted Loan Contract (China Internet Nationwide Financial Services, Inc.)