Article 360 of Commercial Code

1 - If the ordering party’s balance is insufficient, and the transfer order is addressed directly to the bank by the party ordering the transfer, the bank may refuse to execute the order, provided that it immediately notifies the ordering party of this refusal. - If, however, the transfer order is submitted by the beneficiary, the bank shall credit the partial balance to the beneficiary’s account unless the beneficiary refuses this, and the bank shall endorse the transfer order to indicate the crediting of the partial balance Index of the Law 1304 Home Page Commercial Law Decree-Law No. 68 of 1980 Promulgating the Commercial Law or the beneficiary’s refusal thereof. 3 - The ordering party retains the right to dispose of the partial balance if the bank refuses to execute the transfer order or the beneficiary refuses the crediting of the partial balance pursuant to the preceding two paragraphs.