Foreign Exchange Management Clause Samples

The Foreign Exchange Management clause governs how transactions involving different currencies are handled within an agreement. It typically outlines the procedures for currency conversion, specifies which exchange rates will be used, and may assign responsibility for any costs or risks associated with currency fluctuations. For example, it might state that payments made in a foreign currency will be converted at the prevailing rate on the date of payment, or that one party bears the risk of adverse exchange rate movements. This clause ensures clarity and fairness in cross-border transactions by preemptively addressing potential disputes related to currency values and conversion processes.
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Foreign Exchange Management. The CJV shall have access to the foreign exchange market or designated foreign exchange banks for the purpose of conversion of RMB into US Dollars or other convertible foreign currency at the prevailing rates of exchange. The handling charges incurred for the exchange at the foreign exchange swap markets or designated foreign exchange banks shall be paid by the CJV. The CJV shall strive to achieve a balance of foreign exchange receipts and expenditures and may adopt the following methods to raise foreign exchange: (a) Reinvestment of its RMB profits in PRC domestic enterprises capable of generating foreign exchange or increasing foreign exchange revenues. (b) Using RMB to purchase raw materials and components and domestic products in the PRC for export, upon receipt of the appropriate government approvals. (c) Such other methods as are permitted by applicable laws.
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Foreign Exchange Management. Article 36 Foreign exchange management of the Subsidiary shall follow the Foreign Exchange Control Regulations of the People’s Republic of China and the rules for relevant management method.
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Foreign Exchange Management. 14.1 All matters pertaining to foreign exchange affairs of the cooperation company shall be handled in accordance with the present regulations and future effective regulations promulgated by the Chinese Government. 14.2 According to the resolutions of the Board Meeting, the cooperation company shall open a foreign currencies account and RMB account according in Bank of China or other financial institutions approved by the People's Bank of China. 14.3 The wages of the staff abroad and others proper returns of the cooperative company shall be remitted abroad in accordance with the regulations. 14.4 Under the permission of the law, if the cooperation company receive foreign currencies from the business, Party A shall be responsible for handling all the necessary procedures stipulated by the government.
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Foreign Exchange Management. All matters concerning foreign exchange shall be handled in accordance with "the Regulations for Exchange Control of the P.R.C." and other pertaining laws and regulations
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Foreign Exchange Management. The Company’s foreign exchange transactions shall be handled in accordance with applicable PRC Law relating to foreign exchange control. The Company will seek to maintain a balance in its foreign exchange receipts and expenditures through its normal business operations and will obtain foreign currency through other methods permitted by Law.
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Foreign Exchange Management. 18.1 All foreign exchange matters of the Joint Venture will be handled in accordance with the Foreign Exchange Regulations and the provisions contained in this Chapter are specifically subject to the Foreign Exchange Regulations. 18.2 The Joint Venture will open and maintain in its own name a Renminbi account(s) at the Bank of China or another bank located in China which is approved by the People's Bank of China. 18.3 The Joint Venture will also open a U.S. Dollar account(s) (and such other foreign currency accounts as the Board may decide) at the Bank of China or another bank located in China. All foreign exchange income and expenditures of the Joint Venture will be paid into and out of such account or accounts. The foreign exchange funds maintained in such account(s) and the income thereon shall only be used as permitted under Chinese law. 18.4 The foreign staff and staff from Hong Kong and Macau of the Joint Venture may remit their salaries and other income derived from the Joint Venture out of China after payment of any required tax. 18.5 During the Term, all foreign exchange necessary for the payment of interest on and repayment of principal of the Foreign Party's U.S. Dollar loans, distribution of profits to the Foreign Party and return of its capital shall be handled in accordance with the relevant state regulations of foreign exchange control.
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Related to Foreign Exchange Management

  • Foreign Exchange (a) Upon the receipt of Proper Instructions, the Custodian, its agents or its sub-custodian may (but shall not be obligated to) enter into all types of contracts for foreign exchange on behalf of the Company, upon terms acceptable to the Custodian and the Company (in each case at the Company’s expense), including transactions entered into with the Custodian, its sub-custodian or any affiliates of the Custodian or the sub-custodian. The Custodian shall have no liability for any losses incurred in or resulting from the rates obtained in such foreign exchange transactions; and absent specific Proper Instructions, the Custodian shall not be deemed to have any duty to carry out any foreign exchange on behalf of the Company. The Custodian shall be entitled at all times to comply with any legal or regulatory requirements applicable to currency or foreign exchange transactions. (b) The Company acknowledges that the Custodian, any sub-custodian or any affiliates of the Custodian or any sub-custodian, involved in any such foreign exchange transactions may make a margin or generate banking income from foreign exchange transactions entered into pursuant to this Section for which they shall not be required to account to the Company.

  • Foreign Exchange Transactions To facilitate the administration of Customer's trading and investment activity, Bank may, but shall not be obliged to, enter into spot or forward foreign exchange contracts with Customer, or an Authorized Person, and may also provide foreign exchange contracts and facilities through its Affiliates or Subcustodians. Instructions, including standing instructions, may be issued with respect to such contracts, but Bank may establish rules or limitations concerning any foreign exchange facility made available. In all cases where Bank, its Affiliates or Subcustodians enter into a master foreign exchange contract that covers foreign exchange transactions for the Accounts, the terms and conditions of that foreign exchange contract and, to the extent not inconsistent, this Agreement, shall apply to such transactions.

  • Third Party Foreign Exchange Transactions The Custodian shall process foreign exchange transactions (including without limitation contracts, futures, options, and options on futures), where any third party acts as principal counterparty to the Trust on the same basis, if any, that it performs duties as agent for the Trust with respect to any other of the Trust’s investments. Accordingly, the Custodian shall only be responsible for delivering or receiving currency on behalf of the Trust in respect of such contracts pursuant to Written Instructions. The Custodian shall not be responsible for the failure of any counterparty (including any Sub-custodian) in such agency transaction to perform its obligations thereunder. The Custodian (a) shall transmit cash and Written Instructions to and from the currency broker or banking institution with which a foreign exchange contract or option has been executed pursuant hereto, (b) may make free outgoing payments of cash in the form of Dollars or foreign currency without receiving confirmation of a foreign exchange contract or option or confirmation that the countervalue currency completing the foreign exchange contract has been delivered or received or that the option has been delivered or received, (c) may, in connection with cash payments made to third party currency broker/dealers for settlement of the Trust’s foreign exchange spot or forward transactions, foreign exchange swap transactions and similar foreign exchange transactions, process settlements using the banking facilities selected by Custodian from time to time according to such banking facilities standard terms, and (d) shall hold all confirmations, certificates and other documents and agreements received by the Custodian and evidencing or relating to such foreign exchange transactions in safekeeping. The Trust accepts full responsibility for its use of third-party foreign exchange dealers and for execution of said foreign exchange contracts and options and understands that the Trust shall be responsible for any and all costs and interest charges which may be incurred by the Trust or the Custodian as a result of the failure or delay of third parties to deliver foreign exchange.

  • Foreign Exchange Contracts as Principal The Custodian shall not be obligated to enter into foreign exchange transactions as principal. However, if the Custodian has made available to a Fund its services as a principal in foreign exchange transactions, upon receipt of Proper Instructions, the Custodian shall enter into foreign exchange contracts or options to purchase and sell foreign currencies for spot and future delivery on behalf of and for the account of a Portfolio of such Fund with the Custodian as principal. The Custodian shall be responsible for the selection of the currency brokers or Banking Institutions and the failure of such currency brokers or Banking Institutions to comply with the terms of any contract or option.

  • Financial Management System Subrecipient shall establish and maintain a sound financial management system, based upon generally accepted accounting principles. Contractor’s system shall provide fiscal control and accounting procedures that will include the following: i. Information pertaining to tuition rates, payments, and educational assistance payments; and