Demand for Payment

The following article is from The Great Soviet Encyclopedia (1979). It might be outdated or ideologically biased.

Payment, Demand for


in the USSR, an order from a supplier for the transfer to his account of the appropriate sum from a purchaser’s account in payment for goods dispatched or services rendered. Demands for payment are used in acceptance accounting. They are used for local and intercity deliveries, as well as for direct shipments of finished products. The demand for payment should be drawn up and presented to the bank within three working days after the goods have been dispatched. In a number of instances a combined dispatch note and invoice, which gives the terms and elements of the charges in detail, is appended to the demand for payment. Since 1959, in order to simplify the work of the suppliers, a combined demand for payment, dispatch note, and invoice has been used. In accordance with the decree of the Council of Ministers of the USSR of Apr. 3, 1967, the bank collects a penalty for the supplier in cases where a demand for payment is not met on time. This penalty is set at 0.03 percent daily of the overdue amount.

The Great Soviet Encyclopedia, 3rd Edition (1970-1979). © 2010 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
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The "formal demand for payment" was made by Robinson, Way on behalf of their client Paypal - the eBay payment system - which said Geoff had repeatedly ignored emails requesting payment.
The IRS must send a 60-day notice of proposed assessment (Letter 1153) before making notice and demand for payment of the trust fund recovery penalty.
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Other messages border on the criminal, with demand for payment of bills the recipient never ran up.