14. Computation of time of payment

Where a bill is not payable on demand the day on which it falls due is determined as follows —

3 days, called days of grace, are, in every case where the bill itself does not otherwise provide, added to the time of payment as fixed by the bill, and the bill is due and payable on the last day of grace:

in the case of a Brunei Darussalam bill or in the case of such other bills as the Minister may from time to time by notification published in the Gazette prescribe for the purposes of this paragraph, when the last day of grace falls on a Sunday, public holiday or bank holiday; and

where a bill is payable at a fixed period after date, after sight, or after the happening of a specified event, the time of payment is determined by excluding the day from which the time is to begin to run and by including the day of payment;

where a bill is payable at a fixed period after sight, the time begins to run from the date of the acceptance if the bill is accepted, and from the date of noting or protest if the bill is noted or protested for non-acceptance, or for non-delivery;

the term “month” in a bill means calendar month.