The Application for Approval Obligations in the Commercial Transaction
For some specific commercial transactions,administrative approval is a special requirement for this kind of contract to take effect,and the unapproved contract has been established but has not taken effect.The application for approval is an application submitted by the parties to the contract to the administrative organ,and the obligation to submit for approval is not an administrative law obligation of the parties.The obligation to submit for approval is the contractual obligation arising from the agreement to submit for approval,rather than the pre-contract obligation.The validity of the agreement for approval shall not be affected by the administrative examination and approval as a special requirement for the effectiveness of the main contract.If the applicant fails to perform the obligation,the right holder may request the applicant to continue to perform the obligation or choose to submit the application for approval by himself.The right holder may also choose to rescind the agreement on approval or the main contract.Failure to perform the obligation to submit for approval is a loss of opportunity benefits.If the liability for breach of contract is not agreed upon for failure to perform the obligation to submit for approval,the liability for breach of the same type of obligation as stipulated in the applicable contract may be referred to.
obligation to submit for approvaladministrative approvalcontractual obligationbest effort principleopportunity interest