Common use of ACCOUNTS Clause in Contracts

ACCOUNTS. 2.1. General Provisions Regarding Current Accounts Receivable 2.1.1. Save for the provisions regarding Time Deposit, the Client may draw his deposit personally or authorizes another person to draw his deposit by an instruction acceptable to the Bank or transfer it to any account of him or others with another bank established in Turkey or out of the country save for provisions of article 60 of the Law No 5411. The transactions stated in this article may also be performed through Free Banking Channels. 2.1.2. In drawing and depositing transactions from/to all Accounts including the Overdraft Account regulated in the Contract, value date of transaction is the same business day in drawing transactions and value date is the business day following date of transaction in depositing transactions disregarding whether the transaction is performed from the Bank’s counters or through Free Banking Channels. 2.1.3. In case of fractional figure in interest calculations, values between 00-49 in decimal sections of that amount shall be rounded up to the lower value and values between 50-99 shall be rounded up to the higher value. 2.1.4. If the Client request for closing his accounts, he agrees, declares and undertakes to pay the Bank the Banking and Insurance Transactions Tax and other legal liabilities at the current rates on closing date of account. 2.2. Timeout of Deposit, Safe Deposit and Receivables