The settlement period starts on the first business day and ends on the last business day of the month. On the last day (30th or 31st), a bill is issued for the total of all the purchases you made with your credit card during this period.
The bill is charged to the account on the 5th of the following month.
Deferred payments are settled on the last business day of the month. This day (30th or 31st), the bill corresponding to the settlement is issued, and then charged to the account. The settlement period starts on the first business day and ends on the last business day of the month: The 5th of the following month.