The applicant’s liability to participants under this Act and as stated in the approval decision of the competent authority may not be limited or waived by prior agreement between the applicant and the participant.
The part of the agreement mentioned in the preceding paragraph shall be deemed invalid if it violates the provisions of the preceding paragraph.

The financial product or service contract entered between the applicant and participants during the innovative experimentation period should conform to the principles of fairness, reasonableness, equality, reciprocity, and good faith.
When any of the clauses in the contract mentioned in the preceding paragraph is clearly unfair, such a clause shall be deemed invalid. If there is any disagreement over the meaning of any contract clause, the clause shall be interpreted in a manner in favor of the participant.
Applicants should exercise due care of a good administrator for the financial products or services they provide during the innovative experimentation period. Where the financial product or service provided has the nature of a trust or mandate arrangement, the applicants shall also perform fiduciary duties in accordance with applicable regulations or contractual agreement.

The advertisements published or broadcasted and promotional/solicitation activities carried out by applicants during the innovative experimentation period shall be free of falsehood, deception, concealment or other situations sufficient to mislead others. The applicants shall also ensure the truthfulness of the content of their advertisements. The obligations applicants bear to participants shall not be less than those indicated in the aforementioned advertisements or in the materials or explanations provided to participants in the aforementioned promotional/solicitation activities.

Applicants should provide participants with proper protection measures and mechanism for withdrawing from the experimentation, and state clearly in the contract the scope of innovative experimentation, rights and obligations of the parties, and associated risks.
Applicants should explicitly inform participants of the matters mentioned in the preceding paragraph and obtain their consent before the contract is entered into. Article 10 of the Financial Consumer Protection Act shall apply mutatis mutandis to the explanation obligation of applicants. In case of violation on the part of the applicant, a participant may require the applicant to bear liability for damages in accordance with Article 11 of the Financial Consumer Protection Act.
Applicants shall comply with the Personal Information Protection Act in the collection, processing and use of participants’ data.

In case of a civil dispute arising between an applicant and a participant over a financial product or service provided by the applicant, the participant may file a complaint with the applicant in accordance with Paragraph 2, Article 13 of the Financial Consumer Protection Act, and apply to the Financial Ombudsman Institution (“FOI”) for ombudsman service. Article 13-1, Paragraph 5 of Article 15, Paragraph 3 of Article 17, Paragraph 1 of Article 18, Articles 19 – 28, Paragraphs 1 and 2 of Article 29, Article 30 and Article 32-1 of the Financial Consumer Protection Act shall apply mutatis mutandis to the aforementioned complaint filing, application for ombudsman service, and dispute handling.
The FOI may charge applicants dispute-handling service fees for services rendered in accordance with the preceding paragraph. The fee schedule and measures for related matters shall be prescribed by the competent authority.
The "certain amount" mentioned in Paragraph 2, Article 29 of the Financial Consumer Protection Act which applies mutatis mutandis to Paragraph 1 hereof shall be set by the FOI and announced after obtaining approval from the competent authority.