Common use of Payment in Foreign Currency Clause in Contracts

Payment in Foreign Currency. The joint venture shall pay the capital in the foreign currency account (if any) in the following orders: (1) to pay the foreign employee’s salary (if any); (2) to pay the purchase price of the imported items determined by the board of directors; (3) to distribute the profits to the foreign party; and (4) to effect the other foreign currency payment determined by the board of directors.