China Infrastructure Development Association: electronic contract is recommended

In recent days, , The China Securities Investment Fund Industry Association has formulated and issued 《 Measures for the administration of electronic contract business of private investment funds （ On a trial basis ）》（ hereinafter referred to as 《 Way 》）, The purpose of the document is to regulate 、 Promote electronic contract business , Make it clear that electronic contracts and paper contracts have the same legal effect .

China Securities Investment Fund Industry Association will promote 、 Implement electronic contract business , Finally, the electronic contract elements will be realized .

《 Way 》 In addition to clarifying the definition and business specifications of electronic contracts , It also points out the importance of developing electronic contract business 4 A necessity ：

1、 Reduce the risk of contract tampering

The paper contract of private investment fund is generally signed by the fund investor 、 The fund manager and the fund custodian shall enter into a contract 、 Hold separately . Under this process , It is difficult to guarantee the consistency of contract versions , There is a risk that the contract will be tampered with . Besides , The recovery period of paper contracts is generally long , Forcing some funds to acquiesce “ Operate first 、 Post recovery contract ”, Lay hidden dangers for legal disputes in the later stage . At present, there are some complaints 、 Risk management 、 Litigation and arbitration and other practical cases show that , Both of them are closely related to the difficulty of paper contract management . Promote electronic contract business , It can reduce the risk of private investment fund industry , Promote the healthy development of the industry .

2、 Build a business landing scenario , Promote the market-oriented game and checks and balances among various subjects

Electronic contract business is an important application of financial technology in the field of private investment funds , Investors can be connected through electronic contracts 、 Fund manager 、 Fund custodian, fund service institution and other entities , Investment supervision for the custodian 、 Appropriateness of the sales of the raising institution 、 Share registration institutions' share confirmation and other legal responsibilities provide landing scenarios , Promote the market-oriented game and checks and balances among various subjects .

3、 Use advanced technology to solve disputes and complaints arising from the contract

Electronic contract business is blockchain 、 Artificial intelligence and other technologies are the preferred entry point for the fund industry , By connecting with the depository institution , You can get through the process of judicial evidence collection , Enhance judicial storage and evidence effectiveness , Resolve disputes and complaints arising from contracts in the industry , Improve the ability to study and judge risks in private equity industry , It is conducive to the safe disposal of post event risks .

4、 Saving operating costs , Practice ESG Development philosophy

Under paper contract , The manager of a fund product 、 Generally, the custodian and multiple investors shall keep the contract in triplicate , Spend a lot of paper . Promoting electronic contracts can save paper , Greatly reduce the operation cost of the industry , Practice the green and environmental protection of the fund industry ESG idea .

since this year on , About electronic signature 、 There are many favorable policies in the financial industry such as electronic signature and seal , Before that, the CSRC 、 The shenzhen stock exchange 、 The Shanghai Stock Exchange has successively issued documents , Promote the application of electronic signature in relevant business , Once again, the application scenario of electronic signature is widened , It also released an important signal of popularizing electronic signatures in the financial industry .

future , Under the support and guidance of policies , The increasingly mature electronic signature technology will be applied to all walks of life and government work , Help business handle efficiently 、 convenient 、 Security 、 compliance .