calendar, business, banking
“Calendar days” is the preferred choice. If you just say “days”, that’s enough. Everyone knows what that means.
Business days under REBBA only apply to regulatory matters related to registrants. It does not apply to Vendors and Purchasers. So, it is a very problematic term. In fact, all days are business days, other than Saturdays.
Banking days is just as bad. There is no definition of that term either.
Best advice use precise dates and times, if you have to use a number of days, then use calendar days. If you are using either business days or banking days, then include a definition in your Agreements.
Be careful of holidays and the days that the Banks are closed each year.
Brian Madigan LL.B., Broker