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

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

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85. CONCEPT, CHARACTERISTICS AND ELEMENTS OF THE BANK ACCOUNT AGREEMENT

On bank account agreement the bank undertakes to accept and credit funds incoming to the account opened by the client (account holder), fulfill the client's instructions to transfer and issue the appropriate amounts from the account and conduct other operations on the account (clause 1 of article 845 of the Civil Code).

Characterization bank account agreement: it is consensual, bilaterally binding, reimbursable, public.

Subject bank account agreements - the client's funds in his bank account, with which operations are carried out, stipulated by the agreement.

By the parties bank account agreements are bank or a credit institution licensed by the Bank of Russia, and client - account owner. Any legal entity or individual can act as a client.

Form bank account agreements - written. It is directly related to the procedure for concluding an agreement and opening an account.

To open an account, a client - a legal entity submits to the bank:

▪ application for opening an account;

▪ constituent documents and certificate of state registration of a legal entity;

▪ a card with sample signatures of the client’s manager and chief accountant and his seal.

To open an account, individual entrepreneurs provide:

▪ application for opening an account, signed by the entrepreneur;

▪ document on state registration of the entrepreneur;

▪ a card with a sample signature of the entrepreneur, certified by a notary.

Conclusion of the contract takes place by signing single document (in the form of an adhesion agreement on a standard bank letterhead) or by submitting by the client statements with the above documents and making on the application administrative inscription bank manager.

Deadlines account transactions (Article 849 of the Civil Code):

▪ the first term - for crediting to the client’s account the money that came to him from his counterparties. This money is first credited to the bank's correspondent account. The period for crediting them to the client’s account begins from the moment the bank learned that the money belongs to the client, i.e., from the moment it receives the payment document confirming the payment. This period is one day;

▪ second term - for transferring and issuing money according to the client’s payment document. This period is also equal to one day.

The concept of "day" means not a calendar day, but an operating day, i.e. the day of the bank's work, or rather, part of the bank's working time, during which payment documents of a certain date are serviced. The transaction day ends two hours before the end of the bank's work, and all payment documents received after that are executed the next day.

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