Common use of Exchange Rate Variation Clause in Contracts

Exchange Rate Variation. NOTE: This clause will only be included if the Tenderer elects in their tender to exercise the standard exchange rate variation model and that exercise is accepted by NAFC. The exchange rate variation model allows for the value of AUD against the USD to vary by 5% without affecting the prices. The prices are revised once per year according to any change in the value of the AUD against the USD that is in excess of 5%. a. The Contract Price will only be varied in accordance with fluctuations in the currency exchange rate between the Australian dollar (AUD) and the United States dollar (USD) according to the clauses set out below. b. Contract Prices for any Service Period during the first year of the Contract Period are fixed (except as provided in clause 2.3 below if applicable) and will not be varied in accordance with this clause. c. The Benchmark Exchange Rate (BER) is AUD1.00 = USD <value will be inserted here>. d. The source of the Reference Exchange Rate (RER) will be the Reserve Bank’s WM/Reuters Australian Dollar Fix (or its successor) at 16:00 hours (Sydney time) on the business day immediately preceding the day on which the Contract Price is varied.

Exchange Rate Variation. NOTE: This clause will only be included if the Tenderer elects in their tender to exercise the standard exchange rate variation model and that exercise is accepted by NAFC. The exchange rate variation model allows for the value of AUD against the USD to vary by 5% without affecting the prices. The prices are revised once per year according to any change in the value of the AUD against the USD that is in excess of 5%. a. The Contract Price will only be varied in accordance with fluctuations in the currency exchange rate between the Australian dollar (AUD) and the United States dollar (USD) according to the clauses set out below. b. Contract Prices for any Service Period during the first year of the Contract Period are fixed (except as provided in clause 2.3 below if applicable) and will not be varied in accordance with this clause. c. The Benchmark Exchange Rate (BER) is AUD1.00 = USD <value will be inserted here>. d. The source of the Reference Exchange Rate (RER) will be the Reserve Bank’s WM/Reuters Australian Dollar Fix (or its successor) at 16:00 hours (Sydney time) on the business day immediately preceding the day on which the Contract Price is varied. e. The Price Variation Percentage (PVP) is as set out in the table below. Charge Type Price Variation Percentage