Legal Definitions - here and there

Definition: Here and there refers to the value date of a financial transaction, which is the date on which the transaction is considered to have taken place.

Example: If a person transfers money from their bank account to another person's bank account, the value date is the day on which the money is credited to the recipient's account. This means that the transaction is considered to have taken place on that day, even if the actual transfer occurred a few days earlier.

Explanation: The term "here and there" is used to refer to the value date because it signifies that the transaction has taken place in two different places - the sender's account and the recipient's account. The example illustrates how the value date is used to determine when a financial transaction is considered to have occurred, regardless of when the actual transfer took place.