The Supreme People's Court ("SPC") has recently issued the Provisions on Several Issues Concerning the Execution of Notarized Documents for Creditors' Rights (the "Provisions"), effective from October 1, 2018.

The Provisions provide clarity on such issues as how to grasp the execution basis in cases involving the execution of notarized documents for creditors' rights, how to calculate the period for applying for the execution, how to determine what to be executed, what remedial actions could be taken in case of any mistakes. Further, the Provisions clearly specify that the basis of the execution of notarized documents for creditors' rights is such notarized documents themselves, and also note that, when a creditor files the execution application, it shall submit the execution certificate as well which will be used as the proof for the performance and other affairs. Moreover, the Provisions make clear what information shall be specified in the notarized documents for creditors' rights if they could be used as the execution basis, and basic requirements on case acceptance. As for issues arising in practices, such as the indefinite ways to seek remedies and the inconsistent judgment criteria, the Provisions enumerate circumstances "where an application could be filed for not executing the said documents due to the serious violation of statutory notarial procedures", based on legal provisions in respect of notarial procedures.

（Source: SPC）