One. The definition of the Civil Code/Government Code: Article 7 of the Civil Code defines ”public holidays” as ”every Sunday and all other days specified or scheduled as public holidays in the Government Code”. Article 6700 of the Government Code defines public holidays as follows: A working day is a term used to calculate the deadline for filing documents, payments, deliveries, etc. The exact definition varies by area and entity. As a rule, a working day is from Monday to Friday. Excluded hours and holidays vary, but generally the day covers the period from 9 a.m..m. to 5 p.m.m. District officials may also add statutory holidays, as section 6701 provides that if one of the holidays listed in section 6700 falls on a Saturday, the board of directors of a county may, by order or resolution, provide that another day is a holiday for employees of the district. And finally, to make things really confusing, Article 6700 of the Government Code contains as a public holiday ”Good Friday from 12:00 to 15:00.m”; Good luck if you include this three-hour vacation in your calculation of working days. Although most countries work about 40 hours a week from Monday to Friday, there are enough differences that those doing business internationally should check the days of the business week in the country you are doing business with.
For example, if you do business with countries in the Middle East, keep in mind that many of them work a week from Sunday to Thursday. In some countries, such as India, Mexico and Colombia, the work week is Monday to Saturday. In Germany, Austria and Switzerland, two German words of slightly different meanings are used to describe working or working days. One is the working day, a legal term that applies to all calendar days except Sundays and public holidays; [3] [4] It covers most Saturdays. Business days are days when businesses such as retail stores and institutions such as schools are generally allowed to operate (see also the Closing Hours Act). In contrast, the workday refers to a day when someone actually works. For most employees, it`s Monday to Friday. However, for example, a firefighter may have a working day on Sunday, even if it is not legally a working day. With the introduction of flexible working hours, the importance of the traditional working day is diminishing. Although the 8-hour workday is still the norm for many industries, this trend is expected to continue to decline in the coming years.
In many ways, improved communication channels and capabilities have blurred the traditional business day convention, as businesses and individuals can now do business almost 24/7 using electronic methods. * ”BUSINESS DAY” means ”Monday through Friday, except federal or state holidays… The term is used (1) in the context of procedural safeguards related to the disclosure of evidence and assessments prior to the hearing (§ 300.509(a)(2) and (b)); and (2) in disciplinary proceedings (§§ 300.520(b) and 300.528(a)(1)). In addition, the term ”working days (including all public holidays that fall on a working day)” is used under Article 300.403(d)(1)(ii), which refers to the placement of children by parents in private schools with respect to FAPEs. Definitions like these are often used when one of the parties is headquartered in California and the other is located in another state. If you`re lucky enough to have this provision in your contract, calculating ”business days” should be easy because California banks have been classified as essential businesses and haven`t reduced the number of days they`re open. President Donald Trump and Governor Gavin Newsom can add holidays because Section 6700 of the Government Code also defines a holiday as ”any day appointed by the president or governor for a public fast, Thanksgiving, or a holiday.” (I don`t remember the last time a president or governor called for a public fast, but I guess it could happen.) · Regulation B, on the other hand, provides for several deadlines for working days, but does not define the term. · In Regulations E and RESPA, a working day is a day on which the Institute`s offices are open for the performance of virtually all operational functions. Different contracts and financial instruments also have a number of different settlement periods, some ranging from a single day or T+1 in financial jargon to other durations that require three working days. The sophistication and liquidity of the market often determine the settlement periods of transactions.
As a result, it may be impossible for the parties to agree on what is meant by ”working days,” and state law confuses the problem rather than clarifying it. In addition, state and municipal responses to the threat of coronavirus infection have made the definition even more malleable this year. Consumers often encounter the problem of a business day when they deposit a cheque that needs to be deleted. Depending on the size of the cheque deposited and the location of the issuer, it may take between two and 15 business days before a cheque is cleared, and these days do not include weekends or holidays, which may extend the time it takes for a depositor to access these funds. While this may seem like a simple question to us, in the world of regulatory compliance, it`s just not that easy! According to Wikipedia, ”a business day is considered any official business day of the week” and ”these are generally the days between and including Monday to Friday and do not include holidays and weekends.” It`s pretty simple – but compliance officers ARE WARY! The definition of ”business day” varies depending on the regulation – B. The definition of the Code of Civil Procedure, including ”judicial holidays”: This definition of the Civil Code was somewhat confusing. Does the definition in the Code of Civil Procedure make this easier? Not this year. Article 10 of the Code of Civil Procedure defines public holidays as ”every Sunday and all other days referred to in article 135 of the Code of Civil Procedure as `judicial holidays`. This section 135 generally meets the definition in section 6700 of the Government Code, but excludes September 9 (admissions day), the fourth Friday in September (Native American day) and any day designated by the president, but not by the governor, as a day of public fasting, thanksgiving, or a holiday. The length of a working day varies depending on the time, region, industry and company.
The current standards included the 8-hour day and the 10-hour day, but different lengths, from 4 to 16 hours, were normal at certain times and in certain places. Of course, the first place to look will be the contract itself. A well-written conflict that uses the term ”working days” should have a precise definition for that term. But these definitions can be very different. And sometimes the term just isn`t defined. Business days are also often used to indicate when something is delivered or done. For example, it can be guaranteed that mail will be delivered within three working days. This can make a big difference, as a package with a guaranteed delivery of four business days may not arrive until seven days after shipping if it`s a weekend. The most common contractual definition of a ”working day” is Monday to Friday, excluding public holidays. OK, what is a vacation? That depends. California lawmakers have provided two different definitions, and COVID-19 may have created a third: · And Regulation Z contains BOTH definitions! The institution`s working days apply to the provision of advance disclosures such as credit estimate and special information brochure, while requirements such as withdrawal, waiting times and fee restrictions are subject to the more specific definition, which excludes Sundays and public holidays. Until regulators decide on a standard definition of business day, you can help employees avoid pitfalls by including the applicable business day definition in each policy and/or procedure for their activities.
Be sure to include a discussion of the different definitions in each of your compliance training sessions and reassure employees that the applicable definition is included in policies and procedures. .