When making any deposit the client signs withbank the corresponding agreement. In it, in addition to the deposit amount, the main terms of the deposit must specify: the term of the deposit, the possibility of early termination of the contract or its extension after the deposit term, the possibility of replenishing the deposit. Each of these nuances is undoubtedly extremely important. However, the text of the treaty itself is sometimes so specific that the average person does not understand what is at issue in one or another of his points.
For example, not all bank customers know aboutWhat is the prolongation of the contract, and how automatic is different from the one that is carried out by signing an additional agreement. But the method of contract prolongation is extremely important for the client. If the contract is prolonged automatically, this means that at the end of the contract period the client should not contact the bank to conclude another one - the bank will re-arrange the deposit for the same period. That is, the client comes only in case he needs to withdraw money or change something in the contract. When the automatic extension of the term of the contract is not provided, the money at the end of the period falls on the client's current account and interest ceases to accrue on them. That is, the depositor, not knowing that such a prolongation of the contract, and not realizing that in its contract it is not provided, continues to keep money in the bank, not receiving interest.
There are other cases. For example, when a client is going to withdraw money from the account and knows that the deposit has expired, but comes to the bank a week later and finds out that he can not receive money on the deposit, since the contract has lasted and now it must be terminated. At the same time, of course, the automatic prolongation of the deposit is specified in the contract. He will eventually take his money, but he will have to make extra efforts: write statements, come back, etc. But careful study of the treaty would help in both cases save time and nerves.
The concept of extending the term of the contract is alsois used in lending and some other areas of activity of banks. In particular, many borrowers are aware of the prolongation of the contract, which was taken by surprise by the latest financial crisis. When people collected loans and after some time realized that they can not repay them, they began to look for possible exits from the situation. In addition to the sale of collateral that was offered by banks on mortgage and other secured loans, one of the exits was just the extension of the term of the loan agreement in order to minimize the monthly payment. In this situation, of course, there was no question of any automatic prolongation. To extend the payment period, the client had to contact the bank himself, write a statement and convince himself that the new payment would be up to him. Only in this case he was able to sign an additional agreement and reduce payments.
If we consider the question of what isprolongation of the contract, but without reference to loans, deposits and banks in general, then literally this term means "extension of the term". That is, to prolong the contract means to postpone the final date for its implementation, naturally, by mutual consent of the parties.
Article 621 of the Civil Code of the Russian Federation with commentaries. P. 2 tbsp.
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