Article 864. Conditions for execution by a bank of a payment order.

1. The content of the payment order and the settlement documents submitted with it and their form must comply with the requirements provided by the law and the banking rules established in accordance with it. 2. If the payment order does not comply with the requirements specified in clause 1 of this article, the bank may clarify the content of the order. Such a request must be made to the payer immediately upon receipt of the order. If the answer is not received within the time provided for by the law or banking rules established in accordance with it, and if they are not available, the bank can leave the order without execution within a reasonable time and return it to the payer, unless otherwise provided by law, established by the banking rules or agreement between the bank and the payer. 3. The order of the payer is executed by the bank if funds are available on the payer's account, unless otherwise provided by the agreement between the payer and the bank. Orders are executed by the bank in compliance with the order of withdrawal of funds from the account (Article 855).

<< Article 863 TKRF Back to table of contents Article 865 TKRF >>

Links to other articles of chapter 46. Calculations:
Article 861. Cash and non-cash payments.
Article 862. Forms of non-cash payments.
Article 863. General provisions on the settlement of payment orders.
Article 865. Execution of instructions.
Article 866. Responsibility for non-execution or improper execution of the order.
Article 867. General provisions on settlements under a letter of credit.
Article 868. Revocable letter of credit.
Article 869. Irrevocable letter of credit.
Article 870. Execution of a letter of credit.
Article 871. Refusal to accept documents.
Article 872. Responsibility of a bank for violation of the conditions of a letter of credit.
Article 873. Closing of a letter of credit.
Article 874. General provisions on settlements under collection.
Article 875. Execution of a collection order.
Article 876. Notification of operations performed.
Article 877. General provisions on payment by check.
Article 878. Check details.
Article 879. Payment of check.
Article 880. Transfer of rights by check.
Article 881. Payment Guarantee.
Article 882. Collection of check.
Article 883. Certificate of Refusal to Pay a Check.
Article 884. Notice of non-payment of the check.
Article 885. Consequences of non-payment of a check.