"Payment will be made wthin 30 days, by bank transfer"

[andrew2332]

Someone has offered to pay me within 30 days, as per the above term.

I am reading this as the money will be with me within 30 days, sitting in my account.

To make payment to someone, the money has to be in their hand or bank, to be a completed payment, and within 30 days, means by the 30th day after the day you agree to this arrangement.

Am I reading that right? Want to make sure the interpretation is sound.

[atticus]

You can try specifying that cleared funds must be in your account within 30 days. Not all types of bank transfer are immediate.

[andrew2332]

I guess what I am asking, having already agreed now, is whether my interpretation was sound?

Can a payment be said to have been made within 30 days if not received by the person who is being paid?

[atticus]

It can be argued that the wording permits giving the instrtion to the bank within that time frame. A BACS transfer can take a few days.

Why ask after agreeing and not before?

[andrew2332]

atticus I think I agreed because the email accompanying the agreement states "our client will have 30 days to effect payment."

Which convinced me it would be with me in 30 days.

I was thinking of the phrase "cause and effect." To cause a payment you would send it, and the effect would be wherever it ends up increasing someone's bank balance.

Does this make sense?

[atticus]

You asked about possible interpretations, and there appear to be more than one. "Effect payment" is far from certain: is that "hit send" or "ensure funds are in the receiving account"?

I suggest you wait to see when the payment hits your account.

[atticus]

andrew2332 - Having just replied to your latest thread, I have re-read this. Can I ask how it worked out?