Decree of the General Director of the State Bank of Czechoslovakia No. 85 / 1966 Coll.
Decree of the Director General of the Czechoslovak State Bank on payment and settlement on the accounts of organisations
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Effective from 01.01.1967
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85
DECLARATION
Director General of the Czechoslovak State Bank
of 7 November 1966
on payment and settlement on the accounts of organisations
The Director General of the Czechoslovak State Bank provides, pursuant to § 6 paragraph 5 of Act No. 117 / 1965 Coll., on the Czechoslovak State Bank and § 391 paragraph 2 of Economic Code No. 109 / 1964 Coll.:
Preliminary provisions
(1) This decree regulates the domestic payment of the organisations as well as the settlement between the Czechoslovak State Bank (hereinafter referred to as "the Bank ') and the domestic organisations on the accounts of the banks' organisations.
(2) Unless otherwise provided for in this decree, the Bank shall operate in the payment and settlement sectors of the branch or other organisational units of the bank (hereinafter referred to as branches).
Establishment and keeping of accounts and settlement on organisations' accounts
Establishment of accounts and sub-accounts
(1) Branches establish accounts or sub-accounts under Part 11 of the Economic Code and under the general conditions of the Bank (§ 53).
(2) Accounts or sub-accounts are established by agreement concluded between the Bank and the Organisation.
(3) Paragraph 2 does not apply to accounts or sub-accounts set up by organisations under the law, on the basis of measures by the competent authority or for operational reasons of the Bank.
Dispatching with funds in the account
(1) Branches carry out payments or other settlement on organisations' accounts, normally on the basis of payee orders; on the basis of the orders of the beneficiaries only in the cases provided for in this decree.
(2) At least two persons shall always sign the orders that organisations have in their accounts, regardless of the order in which they appear in the signatures.
(3) The branches examine whether the signatures on the orders correspond only to the signatures on the payer's orders and in the cases provided for in Section 37 of this Decree.
Rights and obligations of the Bank
(1) Branches shall account for enforceable orders without maturity and payments received the same, no later than the next working day after the date on which they were received, unless otherwise specified in this Order. Orders without maturity relating to investment supplies or geological works shall be settled by branches no later than three working days after the date on which they were received.
(2) In the last 10 days of the year, branches shall be entitled to carry out the said settlement up to three working days later unless the organisation has agreed with the branches to submit viable orders so that those deadlines can be met.
(3) Reportable maturity orders, if received by branches no later than the day before maturity (orders relating to investment supplies or geological works three working days before maturity), shall be settled on the due date. If the due date falls on the working day, the branches shall settle these orders on the next working day. Where branches receive orders with maturity on the due date (for investment supplies or geological works, two working days before or after maturity), they shall be settled in accordance with paragraph 1.
(4) The free Saturdays resulting from the regular distribution of fixed weekly working hours in branches shall not be counted against the time limits set for the operations of the Bank by this decree. *)
(5) A write-off from an account and credit to an account shall be considered as separate settlement unless they are carried out with the same branch.
(1) The time limits provided for in Article 4 do not apply to cases where branches apply the bank's supervisory powers under Article 363 of the Economic Code.
(2) If the order proves to be feasible, none of the interested parties is obliged to pay the late fee (Section 378 (4) of the Economic Code). Otherwise, the payer shall be subject to this obligation by the expiry of the due date.
(1) Branches may make payments on behalf of an account without an order from its owner, if they are empowered to do so by the law or agreement with the account holder, as well as payments to settle the loans due, to settle interest, to reimburse bank charges and to pay fees in the conduct of banking operations, and the laws laid down by the law and by the bank of the property penalties collected. * *) The bank shall send the bill to the organisation of each such payment.
(2) Branches only account for available orders from organisations up to the amount of the funds declared by the bank in the last statement of the organisation's account or up to the amount of the outstanding loan or the amount of the financial limit.
(3) Orders not complying with the provisions of the law or the general conditions of the bank, branches may not be refunded and may be returned by the authorising officers.
(1) In the absence of funds in the account (exhaustion of the specified financial limit or credit), branches shall settle the documents gradually, as permitted by the funds in the account (limit or credit), in the order specified by the organisation for each document in a manner agreed with the branch, within the time limit set by that branch.
(2) If the organisation does not determine the order of payments in due time, the branches shall settle the documents in order of maturity, otherwise according to how the orders of the branches have been obtained, unless otherwise provided for in this decree (Paragraph 19 (3)) or the special provisions. When making payments in the same order, the branch shall decide on the order of the branch if it has not received another available from the organisation before it has started making the payment.
(3) In the absence of funds in the expenditure sub-account, the branch returns the payment document to the payee.
(4) If the funds in the account (limit or credit) are not sufficient to complete the entire order of the organisation, branches shall not be required to make a partial remuneration.
(5) The suspension reports are submitted by branches only for the payment of investment supplies or geological works.
(1) If the branches make the payment erroneously, they eliminate the inaccuracy by correcting the bill. * * *)
(2) Other defects arising from payment shall be eliminated by the branches by means of an adjustment account if they have no doubt that they are incorrect and that they do not know that arbitration or judicial proceedings have been initiated in the same case.
Branches are required to send or, as agreed with the organisations, transmit statements of accounts to organisations at the latest on the next working day.
(1) Interest on deposits and loans begins on the day of their settlement in the account. Interest on deposits, or part thereof, shall end on the day preceding the date on which the deposit (transfer) is selected or this part thereof; the interest on loans, or parts thereof, shall end on the day preceding their settlement or reduction.
(2) For interest on deposits and loans, branches shall calculate the month in 30 days. Interest shall be calculated in at least quarterly periods and shall be charged to the organisations during the year within 9 working days following the interest period, and in Appendices by 15 January of the following year at the end of the year.
(3) The amounts cleared in the accounts of the organisations between 26 December and the end of the year shall be remunerated as if the branches had not settled them until 1 January of the following year.
(1) Branches shall also charge organisations, in addition to compensation for actual expenses incurred in the interests of the organisations in the course of payment, remuneration for keeping accounts and sub-accounts and extraordinary work.
(2) The amount of the remuneration and refunds is fixed at the tariff. *)
Rights and obligations of organisations
(1) The revocation of an order under Paragraph 368 (3) of the Economic Code must be signed and transmitted in accordance with law to the two branches which received the order.
(2) At the same time, the dismissing organisation is obliged to inform the payee or the payer, if the payee has given the order.
In particular, in order to fulfil the obligation under Article 367 (1) (b) of the Economic Code, organisations shall:
(a) immediately upon receipt of the extracts from the accounts with the documents to examine their accuracy and to immediately notify the branches of errors identified and return the documents which do not belong to them;
(b) to complain at branches of the execution of enforceable orders within 10 days of the dispatch of the orders to such branches, unless within that period they receive from the branches, if sufficient funds are available, a report on the settlement of the order or a report on its suspension (Section 7 (5)); in the absence of funds in the account, this period shall be calculated from the date on which, according to the account statement, the organisation could have established that the order was feasible.
Cancellation of organisations' accounts and sub-accounts
(1) The accounts and sub-accounts set up pursuant to Paragraph 2 (2) shall be cancelled by branches on the basis of an irrevocably signed request by the organisations; sub-accounts may also be cancelled by branches after prior notification of the organisation without such request if they have not been moved for six months.
(2) Branches are required to make a closure of the account or sub-account at the date of cancellation and to send the competent organisation a notification of its balance and an interest-rate calculation.
Payment
Basic provisions
(1) Payment between organisations shall be made in the non-cash manner (by clearing the funds from the account to the account), using the forms set out in paragraphs 2 to 4.
(2) Organisations may pay among themselves in cash for non-investment supplies whose aggregate price does not exceed 500 CZK; This is without prejudice to the provisions of the Regulation on the purchase of goods in internal trade. * *)
(3) Reimbursements to be paid from the accounts of the payers at branches through cash post offices shall be made in accordance with the provisions of Section 48 (4).
(4) The payment service of organisations with branches in cash-taking operations for the benefit of organisations' accounts and cash withdrawals from such accounts shall be carried out in accordance with the provisions of Sections 44 to 47.
(1) The organisation shall be entitled to agree on the form of payment if the adjustment of the different forms of payment so permits. If no agreement is reached, it shall decide on the form of payment of the payer in respect of the recovery orders. The planned settlement may be determined by the Bank as a binding form of payment.
(2) Mutual agreements concluded pursuant to paragraph 1 shall not be submitted by organisations to branches.
(3) The payment documents shall always be presented by the authorising officer to the branch in respect of which the account or sub-account to which the payment or other settlement is to be made is held, except for the creditworthy collection of the ticket (§ 36 (1)) and bank collection (§ 37).
(4) All types of payment documents, with the exception of transfer orders for scheduled settlement (§ 24) and recovery orders with maturity (§ 28), are payment documents without maturity (§ 4).
Uncash forms of payment
Bank transfer
(1) The bank transfer is a preferential form of cashless payment and can be used for all types of remuneration.
(2) Payment documents for bank transfers are transfer orders, mass transfer orders (§ 48 (4)), purchase tickets, postal vouchers and postal orders (§ 48 (2)).
Payment of payment instructions
(1) Transfer orders shall be submitted to the competent branch (Paragraph 16 (3)) by the payer, except as provided in Section 19. If they submit multiple transfer orders at the same time, they may write them down in a mass transfer order.
(2) At the request of the payer, the branch shall pay the transfer order in a hurry.
(3) When paying for the supply of transfer orders, the organisation may agree that payment documents will be issued by the supplier and sent to customers together with invoices.
Payment on receipt of deliveries
(1) In case of non-investment supplies, the supplier and the customer may agree in advance that upon receipt of the delivery and invoice the customer shall transmit to the supplier a transfer order drawn up for the amount of the invoice. Such a transfer order shall be valid for 14 days from its issue, the date of issue not counting.
(2) On transfer orders drawn up in accordance with paragraph 1 and signed legitimately, the buyer shall indicate that they are to be submitted by the supplier.
(3) The supplier shall submit these transfer orders to the branch that holds the account of the customer; the branch shall settle them preferably outside the order.
(4) If this branch finds that the customer has issued a transfer order to the supplier for reimbursement of which there are no funds in the account of the customer, or that the order had formal defects for which it cannot be settled, or if the transfer order has been submitted after its validity, it shall return the transfer order to the supplier without clearing.
(5) Such transfer orders cannot be withdrawn by the customer at the branch.
Payment of purchase tickets
Purchases may only be used by purchasing organisations to pay for the purchase of agricultural products from agricultural organisations if both the supplier and the buyer have their registered office in the same branch.
Payment by postal order
(1) Organisations are entitled to make cashless payments by postal order (formula A).
(2) The provisions of this Order on transfer orders shall apply to postal orders referred to in paragraph 1; However, they cannot be used for payments of an investment nature.
Planned settlement
The planned settlement can only be used to cover fixed and even non-investment supplies under the supplier's agreement with the customer (carrier with the carrier).
The collector and the supplier (transporter and carrier) shall agree on the billing and settlement period, *) the terms of the instalments and their amount, the method of offsetting the difference between the amount of the invoice and the value of the scheduled instalments and the duration of the agreement.
(1) Payment documents for payment of payments are transfer orders marked on all parts with the due date and a note that this is a scheduled settlement.
(2) The transferor (s) sends the transfer order to the branch that holds his account either individually at the due date or in agreement with that branch in bulk for a period agreed with him.
If the supplier (s) infringes the agreement, the customer (s) may withdraw unaccounted payment orders from the branch that holds his account; the withdrawal of orders shall be communicated by the supplier (s) to the customer (s). The legality of the branch's appeals is not investigated.
Payment of recovery orders
(1
(2) Recovery orders cannot be used to cover invoices for non-investment supplies to the budget and advance organisations of the Ministry of National Defence, the Ministry of Interior, the Ministry of Transport - the headquarters of the railway army and military racing kitchens and to pay salaries of a financial nature.
(3) If a supplier uses a recovery order without an agreement with the customer, the customer shall be entitled to charge the supplier a penalty payment of 5% of the amount of each recovery order so submitted, unless a penalty payment has been agreed by agreement. The same periodic penalty payment may be charged by the buyer to the supplier if the supplier designates a recovery order denominated in excess of 10 000 CZK without maturity, although maturity has been agreed.
(4) Recovery orders are drawn up by the supplier and transmitted (surrendered) to the branch that holds the account of the customer on the day of issue, which must be identical to the date of issue and dispatch of the invoice to the customer.
(1) Recovery orders without maturity are recovery orders for amounts not exceeding 10 000 Kns and those on which it is indicated that they are recovery orders without maturity.
(2) Where the maturity is indicated on recovery orders for amounts up to 10 000 Cds, branches do not take account of it and settle such recovery orders as without maturity.
(3) Payment may not be refused for recovery orders without maturity.
(4) Where recovery orders are used without payment, the customer shall not be late for payment if the amount of the recovery order is written off from his account within the time limits set by the invoicing rules. * *)
(1) Recovery orders with maturity can only be used for amounts exceeding 10 000 Kns. Organisations are obliged to agree between themselves within the time limits set by the invoice rules. * *) If they do not, they shall be subject to a ten-day repayment period.
(2) The supplier shall indicate on all parts of the recovery order maturity; branches do not check that the maturity indicated on the recovery order complies with the agreement or billing rules. Recovery orders for amounts of more than 10 000 CZK on which maturity is not indicated or indicated as a recovery order without maturity are returned to suppliers without settlement.
(3) The payment deadline for the recovery order is set from the date of issue.
(1) If the branch returns the recovery order (Paragraph 6 (3)), the supplier is entitled to submit a new recovery order to that branch, designated as a renewed recovery order. At the same time, it shall notify the customer by registered letter of the completion of the renewed recovery order, indicating its dates. It shall indicate on the renewed recovery order that the customer has been informed of the issue of the renewed recovery order; If the recovery order is due, it shall indicate the rematurity without account being taken of the maturity of the original recovery order. The branch is not obliged to ascertain whether a renewed recovery order has been lawfully issued.
(2) If the customer finds that the supplier has indicated on the renewed recovery order that the customer has been notified of the issue of the renewed recovery order without this being the case, he shall be entitled to charge a periodic penalty payment of 5% of the amount of the renewed recovery order.
(3) A supplier who has issued a renewed recovery order as a result of incorrect customer practice is entitled to charge the customer a late payment fee of 0,5 ° for each day of delay for the period from the day following the due date indicated on the invoice until the settlement date of the renewed recovery order to the account of the customer.
(1) The collector may refuse to pay recovery orders with maturity, either in whole or in part, if he is entitled under special rules or under an economic contract not to pay the relevant invoice, or if the amount of the recovery order has been paid in whole or in part.
(2) If the customer refuses to pay the recovery order in whole or in part, he shall submit a signed report to the branch holding his account and shall inform the supplier thereof; the report and the notification shall state the reason for the refusal (paragraph 1). The branch is not obliged to examine whether the reasons given in the report entitle customers to refuse payment. The refusal to pay shall not replace the acts necessary under the special rules to exercise the rights of the customer vis-à-vis the supplier.
(3) If, by the last working day preceding the date of payment of the recovery order, the branch has not received a message in accordance with paragraph 2, it shall accept the payment of the recovery order.
(4) If the notice of refusal of payment is not in accordance with the provisions of paragraphs 2 and 3, the branch shall return it to the customer, stating the reasons and reimburse the recovery order.
The unpaid amount of the recovery order, the payment of which has been rejected in whole or in part by the customer, may be paid only by the transfer order. However, for recovery orders for investment supplies, the supplier shall send the prescribed annexes to the investor, who shall attach them to the transfer order.
(1) If the supplier does not receive a report on the suspension of the recovery order within five working days of its due date, the supplier shall declare the payment of the recovery order directly to the customer.
(2) In the case of a recovery order without payment, the supplier shall proceed mutatis mutandis unless he receives a payment or a suspension report within 15 days of the date of dispatch.
(3) If a recovery order is lost, the supplier shall submit a renewed recovery order to the branch, which shall apply mutatis mutandis to Section 29.
Payment by shipping levy
(1) Transport charges are used for the payment of freight charges if the transport organisation (the carrier) agrees with the carrier on this method of payment.
(2) Transport charges may be paid only
(a) freight for rail, automotive, water and air transport of consignments;
(b) fees for loading, unloading and transhipment operations, storage and storage of consignments with hauliers, as well as charges of another kind incurred at the dispatch station, if those charges are directly linked to the shipment,
(c) fees for the introduction and towing of wagons;
(d) the fees payable by the consignee in connection with transport or at the station of destination;
(e) the fare for the carriage of passengers by air and international air, as well as the charges for their luggage during such carriage; and
(f) the fare for bulk transport of persons and the charges for their luggage during such carriage.
(3) The carrier shall be paid by the carrier by a single collection of freight, fares and charges for all consignments by the carrier lodged or taken over on the same date.
(1) State economic organisations and cooperative organisations may use the non-creditworthy collection of freight and, for the fare (including charges), the non-creditworthy collection of freight when paying the freight (including charges) (including the fees).
(2) Budget and other socialist organisations may use only non-creditworthy collection of freight.
(3) Only non-creditworthy collection of freight may be used for the payment of the ticket from investment accounts.
(4) The branch does not pay the eligible collection of the freight submitted without the rosters.
(1) In contact with the Czechoslovak State Railways and the Czechoslovak Airlines, it presents a collection of freight and balance list of carriers to these carriers.
(2) The haulier shall agree directly with the haulier on the method of completion or submission of the ticket and balance lists to other hauliers.
(1) The schedule of eligible charges shall be submitted or sent by the railway station to a branch designated by the competent railway administration in agreement with the bank; other carriers shall submit these documents to the branch holding their account.
(2) A non-creditworthy collection of the transport charge shall be surrendered or sent directly by the carrier to the branch holding the carrier's account.
Bank collection
(1) Bank collection is a special form of payment provided for certain types of payments which can only be used by organisations individually designated by agreement between the competent central authority and the central bank.
(2) The payment document shall be the transfer order or an inventory of the documents used by the payee and submitted to the branch that holds his account.
Settlement of mutual claims between netting organisations
(1) Mutual claims between organisations are settled by offsetting
(a) for the periodic settlement of claims between organisations of the Ministry of Agriculture and Forestry and the Central Administration of the Purchase of Agricultural Products; and
(b) for intra-regional clearing between undertakings of the Ministry of Mining.
(2) The method of the two types of offsetting of claims by offsetting shall be governed by an agreement between the central bank and the competent central authorities.
(3) Other cases of netting of mutual claims by organisations shall be decided by the Bank's headquarters.
Recovery orders
(1) Recovery orders may be used by organisations only for the recovery of claims owed to them against compulsory organisations in fixed amounts by a final and enforceable decision of an economic arbitrage authority, a court or another State body, and in cases where specific provisions so provide so far.
(2) No documents shall be submitted to the branch for the recovery order. The branch shall not check the validity of the use of the recovery orders; only the organisation (creditor) which used it is responsible for the unauthorised use of this form of payment.
(1) In addition to indicating the purpose of the payment, the recovery order must include an appeal to the competent final and enforceable decision of the economic arbitrage authority, the court or other public authority, indicating its date and number, as well as the name and registered office of the authority (organisation) which issued it, or an appeal to a special regulation (§ 39 (1)) authorising the recipient to use the recovery orders.
(2) If a claim is collected from an investment account (from an account for the payment of geological works), the recovery order shall also include:
(a) type of investment (for buildings, type of work);
(b) the number of the building and the number and name of the building in the building,
(c) for geological works, the name and number of the task.
(1) The creditor shall send or submit a recovery order to the branch which holds the account of the compulsory organisation.
(2) The compulsory organisation may not object to the settlement of the recovery order at the branch; deferral of payment at the request of a compulsory organisation is only possible where a specific rule so far provides. *)
If the payment cannot be made because it is contrary to the rules on the financing of the reproduction of basic funds, the branch which holds the debtor's account shall settle the recovery order no later than the next working day after it becomes aware of the correction of the defect. The branch shall inform the organisation concerned of the delay.
Cash-free check
(1) Organisations may also use Czechoslovak State Bank cheques (hereinafter referred to as "cheques") intended for cash collection (Paragraph 46 (1)) if they indicate that the check is for settlement and indicate the payee's settlement data.
(2) The cheques used for non-cash payments shall be settled by the branch within the period referred to in § 4 (1); otherwise, the provisions of § 46 (2) and § 47 (3) of the first sentence shall apply to these cheques.
(3) For cheques issued by public savings banks in granting loans for the purchase of certain goods, the provisions of this Order shall apply with any exceptions or derogations agreed between the Bank's head office and the Ministry of Finance - the main administration of the state savings banks.
Cash forms of payment
In addition to payments made through the transfer of cash directly to the beneficiary, the organisation may make cash payments with bank cash deposits, cheques and postal bills. Organisations shall indicate on these documents the purpose of the payment and the numerical symbol of the relevant item of the treasury plan. * *)
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Regulation Information
| Citation | Decree of the General Director of the State Bank of Czechoslovak No. 85 / 1966 Coll., on payment and settlement in the accounts of organisations |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 24.11.1966 |
|---|---|
| Effective from | 01.01.1967 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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