Banking Activity

October 7, 2010 the Trial Chamber on Civil Cases of the Supreme Court of Ukraine held the generalization of the judicial practice of considering the civil cases arising from the credit relationship (2009-2010) (Excerpts) The contract of bank deposit (Deposit) one party (the bank), which took the request by the other party (the depositor) or to go for it a sum of money (deposit) received shall refund the deposit amount and interest thereon or income in another form to conditions and procedures stipulated in the contract (part 1 of article. 1058 CC). Time, analysis of existing laws and other legal acts of Ukraine gives grounds for concluding that there is not only a civil law definition deposit agreement, but the disclosure of its features on the basis of special legislation. Thus, the contribution (deposit) – this means in cash or via bank transfer to the Ukrainian currency or foreign currency, placed customers at their registered bank accounts on a contractual basis for a certain period of storage or without specifying a date and payable to the depositor in accordance with Ukrainian legislation and the terms of the agreement (Article 2 of the Law of Ukraine "On Banks and Banking Activity"). Bank deposit agreement is real, for compensation contract, ie one that is concluded at the time of the bank from a depositor or a third person in favor of the depositor sum of money. The contract of bank deposit (deposit) of one side is the only financial institution (bank), and the second party (the depositor) – can be both natural and legal persons.