Contract law. Calculations (most important)

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Contract law. Calculations (most important)

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69. CALCULATIONS

Расчеты - methods and procedure for the fulfillment of a monetary obligation using funds in the debtor's bank account. There are the following forms of payment:

1) payment orders;

2) under a letter of credit;

3) by collection;

4) checks.

Payment order - an order of the account owner (payer) to the bank servicing him, documented in a settlement document, to transfer a certain amount of money to the recipient’s account opened in this or another bank.

When paying by payment orders the bank takes over on behalf of the payer, at the expense of the funds in his account, transfer a certain amount to the account of the person indicated by the payer in this or another bank within the period provided for by law or established in accordance with it, unless a shorter period is provided for by the bank account agreement or is not determined by the applicable in banking practice, business customs (clause 1, article 863 of the Civil Code of the Russian Federation).

When making payments under a letter of credit, the bank acting on behalf of the payer to open the letter of credit and in accordance with its instructions (issuing bank), undertakes to make payments to the recipient of funds or pay, accept or honor a bill of exchange or authorize another bank (executing bank) to make payments the recipient of the funds or pay, accept or take into account the bill of exchange (Clause 1 of Article 867 of the Civil Code of the Russian Federation).

Differences of the letter of credit form of payment:

1) when using a letter of credit form of payment, the essence of the payer's instruction is not to transfer funds to the recipient's account, but to open a letter of credit, i.e., to allocate funds for settlements with the recipient;

2) the receipt of funds upon opening a letter of credit is conditioned for their recipient (beneficiary) by the need to comply with the terms of the letter of credit, which are determined by its agreement with the payer, and are also duplicated in the instruction of the letter of credit to the bank to open a letter of credit.

When calculating by collection The issuing bank undertakes, on behalf of the client, to carry out at his expense actions to receive payment or acceptance of payment from the payer.

The main difference between collection settlements: the role of the person giving the instruction to the issuing bank to carry out the corresponding banking transaction (presenting the settlement document) is not the payer, but the recipient of the funds, and the instruction itself to the bank is to receive payment from the payer.

Check - a security containing an unconditional order of the drawer of the check to the bank to pay the amount indicated in it to the holder of the check.

Author: Rezepova V.E.

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