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Definition
Article 448
Under a contract for bank transfer the principal shall extend to the bank a certain monetary sum with orders to be paid to a person specified thereby.
Execution
Article 449
- (1)
- The principal may cancel or modify an order for transfer prior to its performance.
- (2)
- Where prior to the performance of the transfer the bank has notified the payee of the order, it may not be cancelled or modified.
Obligation for Fees and Expenses
Article 450
The principal shall owe to the bank fees and the expenses made by the latter related to the transfer.
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