Settlements by letter of credit
1. In transactions under a letter of credit, the bank acting on behalf of the payer in opening the letter of credit and according to its instructions (issuing bank) is obliged to make payments to the recipient of funds or to pay, accept, or discount a bill of exchange, or to authorize another bank (the executing bank) to make payments to the recipient of funds or to pay, accept, or discount a bill of exchange.
The rules applicable to an executing bank apply also to the issuing bank making payments to the recipient of funds or paying, accepting, or discounting a bill of exchange.
2. In the case of opening a covered (deposited) letter of credit, the issuing bank is required upon its opening to transfer the amount of the letter of credit (coverage) from the payer's account or from a credit provided to it to the disposal of the executing bank for the entire duration of the issuing bank's obligation.
In the case of opening an uncovered (guaranteed) letter of credit, the executing bank is granted the right to debit the entire amount of the letter of credit from the account maintained by the issuing bank with it.
Source: "Civil Code of the Russian Federation (Part Two)" dated 26.01.1996 No. 14-FZ (as amended on 30.11.2011) (with amendments and additions coming into force from 01.01.2012)
Морфология
Род
Понятие «расчеты по аккредитиву» мужского рода.
Склонение и число
| Падеж | Единственное число | Множественное число |
|---|---|---|
| Р | Расчеты по аккредитиву | Расчеты по аккредитиву |
| Д | Расчеты по аккредитиву | Расчеты по аккредитиву |
| В | Расчеты по аккредитиву | Расчеты по аккредитиву |
| Т | Расчеты по аккредитиву | Расчеты по аккредитиву |
| П | Расчеты по аккредитиву | Расчеты по аккредитиву |