چکیده:
Transferring funds through the banking system is a common means of fulfilling contractual obligations; a process that usually begins with an order from the obligor and ends with the mediation of several banks and the deposit of funds into the account of the obligee. The fund transfer process has significant legal aspects. Among topics such as how the process is executed, its obstacles, and the bank's deadline for executing the payment order, accurately determining the moment the process is completed is of great importance; because at this moment, the obligor's liability is discharged, and their goal in starting this process is realized. According to the UNCITRAL Model Law regarding international transfers of credit [1992], the acceptance of a payment order by the beneficiary bank is considered the moment the process is completed and the issuer is discharged from liability. This view, which seems acceptable in Iranian law as well, given existing banking regulations that place the ultimate responsibility for depositing funds into the beneficiary's account on the beneficiary bank, is plausible.
خلاصه ماشینی:
PhD Student in Private Law, University of Qom, Qom, Iran Received: 2012/12/15 Accepted: 2013/06/22 Abstract Fund transfer through the banking system is a common method for fulfilling contractual obligations; a process that usually begins with the debtor's order and ends with the deposit of funds into the creditor's account through the mediation of several banks.
According to the UNCITRAL Model Law on International Transfers of Funds [1992], the acceptance of the payment order by the beneficiary bank is considered the moment of process completion and the discharge of the originator's liability.
In the twenty-fourth UNCITRAL session, the representative of the French government proposed that paragraph 2 of Article 8 should state that the transfer must be carried out in the currency specified in the text of the payment order, so that the receiving bank is not authorized to settle the funds in another currency.
A question may arise as to whether, in the event of two amounts being present in the payment order, the receiving bank cannot, similar to Article 9 of the Geneva Uniform Law on Checks approved in 1931 and Article 225 of the Iranian Commercial Code approved in 1932 regarding discrepancies in the amount of a bill of exchange, execute the amount written in words in observance of the principle of 'asala al-zuhur' (presumption of appearance) or the lower amount in observance of the principle of non-increase and discharge?1 It seems that the answer to the above question is negative, because firstly, contrary to the explicitness of the above regulations, no such text exists in the Model Law; secondly, paragraph 5 of Article 8 is general and considers the mere existence of a conflict as an obstacle to execution.
According to paragraph 1 of Article 19 of the Model Law: "When the beneficiary bank accepts the payment order for the benefit of the beneficiary, the transfer of credit is completed...
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