Business day

In general: hours when most businesses are in operation. Although individual working hours may differ, and particular firms may choose staggered schedules, the conventional business day is 9 A.M. to 5 P.M.

Finance and investments: day when financial marketplaces are open for trading. In figuring the settlement date on a regular way securities transaction-which is the fifth business day after the trade date-Saturday, Sunday, and a legal holiday would not be counted, for example.

A standard day for conducting business. Excludes weekends and holidays.
Example: On Monday, July 1, Abel agrees to buy real estate. Closing will be 5 business days later, which is July 9 (Table 9).

Table 9 Business Days

Business days

Tuesday July 2 1

Wednesday July 3 2

Thursday July 4 holiday

Friday July 5 3

Saturday July 6 weekend

Sunday July 7 weekend

Monday July 8 4

Tuesday July 9 5

A business day is considered every official working day of the week. The more common term is working day. Typically, these are the days between and including Monday to Friday and do not include public holidays and week-ends.^[1]

As an example, when sending a package with a shipping company such as FedEx, a shipment dispatched on a Thursday that is to be delivered in "two business days" will arrive on Monday, assuming that both Friday and Monday are not holidays. In other words, it will take Thursday, Friday, and Monday to deliver it.

Shifts and trends

The introduction of flex time introduces the internet as a more easily globalized and outsourced workforce. The notion of a business day has come under a certain degree of challenge. Information-based companies with a limited dependence on physical goods have less of a need to distinguish a weekend day from a weekday and indeed to many, there is no difference at all. These companies, quite validly, construe a business day to be any day on which they provide service.

References

1. ^ "Business day" entry in the Dictionary of Real Estate Terms. Barron's Educational Series, Inc, 2004. Retrieved on September 5, 2009, from the business day page on the Answers.com Web site.

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