Florida Statutes Part IV - Payment (Ss. 670.401-670.406)

• 670.401 - Payment Date.
  “Payment date” of a payment order means the day on which the amount of the order is payable to the beneficiary by the beneficiary’s bank....
• 670.402 - Obligation Of Sender To Pay Receiving Bank.
  (1) This section is subject to ss. 670.205 and 670.207.(2) With respect to a payment order issued to the beneficiary’s bank, acceptance of the order by the...
• 670.403 - Payment By Sender To Receiving Bank.
  (1) Payment of the sender’s obligation under s. 670.402 to pay the receiving bank occurs as follows:(a) If the sender is a bank, payment occurs when the...
• 670.404 - Obligation Of Beneficiary’s Bank To Pay And Give Notice To Beneficiary.
  (1) Subject to ss. 670.211(5) and 670.405(4) and (5), if a beneficiary’s bank accepts a payment order, the bank is obliged to pay the amount of...
• 670.405 - Payment By Beneficiary’s Bank To Beneficiary.
  (1) If the beneficiary’s bank credits an account of the beneficiary of a payment order, payment of the bank’s obligation under s. 670.404(1) occurs when and...
• 670.406 - Payment By Originator To Beneficiary; Discharge Of Underlying Obligation.
  (1) Subject to ss. 670.211(5) and 670.405(4) and (5), the originator of a funds transfer pays the beneficiary of the originator’s payment order at the time...

Last modified: September 23, 2016