Article 863. General provisions on the settlement of payment orders.
1. When making a payment order, the bank undertakes, on behalf of the payer, using the funds in its account to transfer a certain amount of money to the account of the person specified by the payer in this or another bank within the period prescribed by law or established in accordance with it, if shorter the term is not stipulated by the bank account agreement or is not determined by the customs of business turnover used in banking practice. 2. The rules of this paragraph shall apply to relations connected with the transfer of funds through a bank by a person who does not have an account with this bank, unless otherwise provided by law, bank rules established in accordance with it, or does not follow from the essence of these relations. 3. The procedure for effecting settlements by payment orders is regulated by law, as well as banking rules established in accordance with it and the customs of business turnover applied in banking practice.
Links to other articles of chapter 46. Calculations: