Transactions in Foreign Currency Clause Samples
The 'Transactions in Foreign Currency' clause defines how transactions conducted in currencies other than the contract's base currency are to be handled. It typically specifies the applicable exchange rate, the timing for currency conversion, and which party bears the risk of currency fluctuations. For example, if a payment is made in euros under a contract denominated in US dollars, this clause would clarify how the euro amount is converted to dollars and when the conversion rate is determined. Its core function is to ensure clarity and fairness in cross-border transactions by addressing potential disputes arising from exchange rate changes.
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Transactions in Foreign Currency. If you carry out a Transaction in a foreign currency with your Card, this Transaction will be converted into Canadian dollars at an exchange rate that corresponds to the exchange rate of the Payment Card Network in effect when this Transaction is posted to your Account, to which a percentage of 2.5% is added. If you us the CirrusTM or MaestroTM networks and this Transaction is carried out in a foreign currency other than the U.S. dollar, it will first be converted into U.S. dollars by that network at the exchange rate established by that network, and then converted into Canadian dollars at the exchange rate established by that network when this Transaction is posted to your Account, to which a percentage of 2.5% is added.
Transactions in Foreign Currency. 8.1 Transactions which are effected in currencies other than Sri Lankan Rupees will be debited to the Account after conversion into Sri Lankan Rupees at an exchange rate determined by the Bank.
8.2 The Bank will convert all foreign currency Transactions into the billing currency, using the prevailing exchange rate maintained by the Bank for such currency. In respect of all foreign currency Transactions, a conversion factor may be added to the converted amount.
Transactions in Foreign Currency. If a cardholder uses the Card for transactions in a currency other than U.S. Dollars, the transactions will be converted by Mastercard® to U.S. Dollars, using either (1) a rate selected by Mastercard from the range of rates available in wholesale currency markets for the applicable central processing date, which rate may vary from the rate Mastercard itself receives or (2) the government-mandated rate in effect for the applicable central processing date. The currency conversion rate for the applicable central processing date may differ from the rate in effect at the time of the transaction or on the date the transaction is posted to your account. If a credit is subsequently given for a transaction and has a different central processing date, then the exchange rate of the credit may be greater or less than that of the original transaction. You agree to accept the converted amount in U.S. Dollars. In addition, if you use your Card and PIN to obtain a Cash Advance at an ATM that involves a multi-national or worldwide automated teller machine network switch and involves a currency other than U.S. Dollars, the transaction will be converted to U.S. Dollars, generally using either (1) a government-mandated rate, or (2) a wholesale market rate in effect the day before the transaction processing date. The currency conversion rate used on the processing date may differ from the rate in effect at the time of the transaction or on the date the transaction is posted to your account. We may, but are not required to, decline a transaction on the account and/or cardholder’s account because of operational considerations, because the account and/or a cardholder’s account is in default under this agreement, to protect against potential fraudulent or unlawful activity, circumstances that suggest fraud, authorization facilities are not functioning or in our discretion, for any other reason. Should a transaction on the account and/or cardholder’s account be declined either by us or a third party, even if you have sufficient credit available, we will not be responsible for any losses that may result. For online transactions, if fraud is suspected, you or a cardholder might be asked to call the phone number on the back of the Card to confirm the transaction. If you are an organization with ten (10) or more employees and we have issued ten (10) or more Cards on the account for use by cardholders, you agree that: (i) all transactions conducted by one of your owners, by the cardhold...
Transactions in Foreign Currency. The customer is obliged to pay the Credit card balance to the bank according to the account currency and to the exchange rate determined by Visa / MasterCard and the bank fees for international use as mention in the price table, as well, in the record of the day each purchase or cash withdrawals transaction is made by customer in any foreign currency.
Transactions in Foreign Currency.
8.1. If you contract a product in a currency other than the euro, the amount, currency and interest rate will be those that are established for each transaction.
8.2. Transactions in a currency other than the euro may involve gains and losses based on the equivalent value in the currency in which the transaction was conducted. You agree to assume the profits and/or losses that may occur due to changes in such quotations (equivalent value) of the currencies other than the euro in which you conduct your transactions, such as transfers, deposits and charges. You expressly acknowledge that Bankia has no liability for these purposes.
Transactions in Foreign Currency. 11.1 All Transactions shall be charged to the Travel Card in the currency the Travel Card was issued.
11.2 The Bank will convert all Transactions into the currency the Travel Card was issued for, using the prevailing exchange rate for such currency the Transaction occurred. In respect of all foreign currency Transactions, a conversion factor may be added to the converted amount.
Transactions in Foreign Currency. A. The Bank shall settle the obligations resulting from the Cardholders’ use of the Credit Card outside the Kingdom in foreign currency, within the limits of these terms and conditions.
Transactions in Foreign Currency. If you incur a charge in a foreign currency, the charge will be converted into a U.S. dollar amount in accordance with the operating regulations of Visa International in effect at the time that the transaction is processed. Currently, those Regulations provide that the currency conversion rate to be used is either: (a) a wholesale market rate; or (b) a government-mandated rate in effect one day prior to the processing date, increased by one percent in each case. Visa retains this one percent as compensation for performing the currency conversion service. The currency conversion rate in effect on the processing date may differ from the rate in effect on the transaction date or the posting date.
Transactions in Foreign Currency. If any transactions under an Account are submitted in a currency other than U.S. dollars, the amount will be converted to U.S. dollars when applied to your Account balance and any relevant Balance Transfer or Cash Advance balances. We do not set exchange rates for such transactions. Exchange rates will be determined as provided under applicable Visa® operating rules and may not be the most advantageous rates otherwise available to you from other sources.
Transactions in Foreign Currency. The income received in USD is recorded at the rate of exchange on the day the transaction is carried out. Income and expenditure in foreign currency are converted with the exchange rate at the time of the transaction. All current assets and current liabilities in foreign currency are registered at the rate of exchange as per 31.12. Realised foreign exchange gain and loss are registered as financial items. The debt is valued at the historical rate, to the extent that the future net nominal income flow exceed the borrowed amount. To the extent that long-term debt exceeds the net nominal income flow, the unrealised foreign exchange loss on the exceeding amount is recorded. Realized and unrealized profit and loss on foreign exchange are recorded as financial income / expenses.