participates as participants in settlement relations.
The bank has a task to notify the client (at his request) that the task has been completed. In this
case, the Bank issues a notification that the client's order has been executed. This is the moment
when the payer's order is executed and funds are credited to the representative account in the
recipient's bank. In accordance with article 778 of the CC, the recipient's bank is obliged to
deposit the received funds to the account no later than the morning of the day of receipt of the
corresponding payment document.
The Bank is responsible to the Client for its actions, as well as for the actions of the executing
bank and the receiving bank. In this regard, property liability to the bank arises ipso jure (by
virtue of the law, in accordance with the Law) in case of non-fulfillment of contractual
obligations to the payer of funds. This measure is primarily aimed at protecting the interests of
the payer of funds and leads to simplification of procedures for resolving disputes about
violation of the payment procedure [3]. It should be noted that such specifics of legal regulation
are characteristic of transport relations. The bank's liability follows from the general provisions
on the law of obligations (articles 14, 241, 327, 334 of the CC).
Settlements by letters of credit are one of the forms of settlements used in the settlement
practice of the Republic of Uzbekistan. However, recently this form of settlement has been
widely used in international settlements. The meaning of a letter of credit as a form of non-cash
settlement proceeds from the fact that the seller (contractor, contractor) has a strictly guaranteed
payment for the fulfilled obligation. Such a situation occurs when money is transferred by the
payer after the counterparty fulfills certain conditions, and this situation creates certain
