The check is

In conditions of transition to market economy used for non-cash payments settlement checks. A settlement check is a written order drawn up on a special bank form from the account owner (check drawer) to pay a certain amount of money to the recipient (check holder) or to transfer funds to his account.

Typically, settlements using checks are made in the following sequence. A contract for the purchase and sale of goods is concluded, which reflects that payments are made by check (or checks). For getting checkbook the buyer of goods submits an application to the bank with such a request. The buyer then deposits the amount in a special account at the servicing bank, from which future checks will be paid. After this, the supplier ships the goods, and the buyer writes him a check for the cost of the goods received. The supplier presents the check to its bank for collection to receive payment. The supplier's bank presents the received check to the buyer's bank for payment, and the buyer's bank pays the check from the amounts previously deposited.

See also:

A settlement check is used for payments for goods and services rendered and is paid from funds deposited (specially set aside) in a separate check account. Checks can also be paid from the drawer's current account, but not higher than the amount guaranteed by the bank (agreed with the drawer when issuing the checkbook). IN in this case the bank can

guarantee payment in the event of a temporary lack of funds through an allocated loan. The amount of bank guarantees, within the limits of which checks can be paid, is accounted for in a special off-balance sheet account.

Check - a written order from the payer to his bank to pay from his account to the holder of the check a specified amount of money. Distinguish cash checks and paychecks.

Cash checks are used to pay the holder of a check cash at a bank, for example, wages, economic needs, travel expenses etc.

Payment checks - These are checks used for non-cash payments. A settlement check is a document of the established form containing an unconditional written order drawer to his bank about the transfer of a certain sum of money from his account to the account of the recipient of funds (check holder). Pay check, like payment order, is issued by the payer; unlike a payment order, the check is transferred by the payer to the recipient company at the time of payment business transaction, who presents the check to his bank for payment.

Payment checks stamped “Russia” can be covered or uncovered. Covered settlement checks are checks for which the funds have been previously deposited by the drawer client in a separate bank account No. 722 “Settlement Checks”, which provides a guarantee of payment for these checks.

Uncovered checks are checks for which payment is guaranteed by the bank. In this case, the bank guarantees to the drawer, in the event of a temporary lack of funds in his account, payment of checks at the expense of the bank. The amount of bank guarantees, within the limits of which checks can be paid, is recorded in the guarantor bank in off-balance sheet account No. 9925 “Guarantees, sureties issued by the bank.”

Currently, according to the instructions of the Central Bank, only covered settlement checks are used in settlements.

To receive settlement checks, the client contacts the service provider commercial Bank with a statement on in the prescribed form, where the number of checks and the amount of the total need for settlements by checks are indicated. Based on this data, the limit of one check is determined, which must be placed on back side each check. The application for the issuance of checks is signed by the head of the enterprise, the chief accountant and certified by a seal.

Simultaneously with the application, the client submits a payment order to the bank to transfer the declared amount of money from his current account to account No. 722 “Settlement checks” and only after depositing these funds has the right to receive checks.

An enterprise accepting a settlement check for payment (check holder) must ensure the following:

the check amount does not exceed limit amount, indicated on its reverse side and on the check card;

The drawer's account number on the check corresponds to
indicated on the check card;

The drawer's signature on the check is identical to the signature
stamped on the check card.

The loss that occurs as a result of incorrect check verification is borne by the enterprise itself that accepted the check as payment (supplier). The representative of the latter signs on the back of the check and affixes a stamp. Then the supplier, as the check holder, can present this check to his bank to receive payment. The deadline for presenting a check to the bank is 10 calendar days(not counting the day of discharge).

The check holder submits checks to the bank in the register in 4 copies, which must contain full information about checks: check numbers, account numbers of the drawer and check holder, as well as the banks servicing them, the amount of checks. The register is certified by the signatures of the two first persons of the check holder and the seal.

Along with the use of checks stamped “Russia” in settlements, the use of checks from limited checkbooks as payments for goods (services) is maintained in Russia.

A limited checkbook is payment checks bound in the form of a book (10, 20, 25 or 50 sheets each), which can be issued by an enterprise for a total amount not exceeding the limit established for this book. The check book limit is limited to the amount of funds pre-deposited with the bank in a separate bank account.

Strict reporting, with the help of which non-cash payments: the drawer of the check to the bank to transfer a certain amount from his account to the recipient-check holder. R.ch. are transferred by the drawer (buyer of goods, services) to the check holder (seller of goods, work, services) for presentation for payment to the bank in which the check holder's account is located. Payment is made from the funds of the drawer in his account at the bank that opened and maintains this account. Types of checks: accepted and not accepted by the bank, from limited or non-limited check books. Specified checks are used only for non-cash payments through banks and cannot circulate outside them. RF crossed out with a diagonal stripe that goes from the lower left corner to the upper right. R.ch. does not serve financing purposes, it is a form of non-cash payment between legal entities. The company that has received this as payment presents it to its bank, which credits the check amount to its account. R.ch. provides a guarantee that only the person for whom they are intended will receive the invoice.

Economics and law: dictionary-reference book. - M.: University and school. L. P. Kurakov, V. L. Kurakov, A. L. Kurakov. 2004 .

See what a “Settlement check” is in other dictionaries:

Settlement document, serving for making non-cash payments between legal entities; crossed out with a diagonal stripe that goes from the lower left corner to the upper right. There are limited and non-limited settlement checks... ... Financial Dictionary

Legal dictionary

See Settlement check Dictionary of business terms. Akademik.ru. 2001... Dictionary of business terms

PAYMENT CHECK- document strict reporting, with the help of which non-cash payments are made: an order from the check drawer to the bank to transfer a certain amount from his account to the account of the recipient of the check holder. R.ch. transferred by the drawer (buyer of goods, work,... ... Legal encyclopedia

settlement check- a check for which payment in cash is prohibited (by the drawer or the check holder) (for this purpose, front side the check is marked Settlement). The payer who violates the prohibition is obliged to compensate the drawer or check holder for losses in full... ... Large legal dictionary

settlement check- A check used to transfer money from the holder's checking account to the recipient's checking account. The check is crossed out with a diagonal stripe that runs from the lower left corner to the upper right. Checks are issued on forms issued by the bank... ... - a check from a limited checkbook A settlement check issued by the drawer ( total amount checks issued are limited a certain limit limit). Checks are paid by the bank regardless of the availability of funds in the drawer’s current account.… … Technical Translator's Guide