Civil law. Part II. Concept, characteristics and elements of a bank deposit agreement (the most important)

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Civil law. Part II. Concept, characteristics and elements of a bank deposit agreement (the most important)

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83. CONCEPT, CHARACTERISTICS AND ELEMENTS OF THE CONTRACT OF BANK DEPOSIT (DEPOSIT). TERMINATION OF THE CONTRACT

On bank deposit agreement one side (bank), which received what was received from the other side (contributor) or the amount of money received for her (contribution), undertakes to return the deposit amount and pay interest on it on the terms and in the manner prescribed by the contract (paragraph 1 of article 834 of the Civil Code).

Characteristics of the contract: it is real, unilateral, reimbursable and public, if an individual acts as a depositor in the agreement. An agreement in which a legal entity acts as a depositor does not have the property of publicity, since the bank has the right to pursue a differentiated economic policy on the deposits of such entities.

The subject contracts are money - a contribution in rubles or foreign currency. The depositor's right to funds transferred to the bank as a deposit is not a property right, but the right to demand the return of money and the payment of interest due.

By the parties the contract are the bank and the depositor. The Bank has the right to attract funds in deposits only in accordance with the license it has received. The right to accept deposits from individuals is enjoyed only by those banks that carry out banking activities for a period of at least 2 years from the date of state registration. Any individual or legal entity can be a contributor.

Form contracts are in writing. The written form of the agreement is considered to be complied with if the deposit is certified by a savings book, savings or deposit certificate or other document issued by the bank to the depositor that meets the requirements provided for such documents by the law, the banking rules established in accordance with it and the customs of business turnover applied in banking practice (p. 1 article 836 of the Civil Code).

Deadlines (day, month, quarter, year, etc.) and the procedure for paying interest on the deposit (with capitalization, without capitalization) and the return of the deposit amount must be agreed by the parties in the agreement. When the deposit is returned, all interest accrued up to that moment is paid.

The price the loan issued by the depositor to the bank are interest.

The bank deposit agreement is concluded on following conditions (clause 1 of article 837 of the Civil Code):

▪ issuing a deposit upon immediate request (demand deposit);

▪ return of the deposit after the period specified in the agreement (time deposit).

However, regardless of the type of deposit, the bank is obliged to issue the deposit amount or part of it. on demand depositor (clause 2 of article 837 of the Civil Code), with the exception of deposits made by legal entities on other terms of return provided for by the agreement.

Termination of the contract always occurs by virtue of the unilateral will of the citizen-investor. For legal entities, the termination of this agreement depends on the type of deposit: for demand deposits - on demand, and for deposits on special conditions - in the manner prescribed by the agreement.

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