Common use of Charges in a Foreign Currency Clause in Contracts

Charges in a Foreign Currency. a. If an Account User makes a Charge in a currency other than the Billing Currency, that Charge will be converted into the Billing Currency. The conversion will take place on the date the Charge is processed by us, which may not be the same date on which the Charge was made as it depends on when the Charge was submitted to us. b. Unless a specific rate is required by applicable law, You understand and agree that the American Express treasury system will use conversion rates based on interbank rates that it selects from customary industry sources on the business day prior to the processing date (the “American Express Exchange Rate”). c. If Charges are converted by third parties prior to being submitted to us, any conversions made by those third parties will be at rates set by such third parties and may include a commission selected by them. In such cases, we will consider the transaction as a Billing Currency transaction and accept the conversion performed by the third party without charging a conversion fee. You may however be liable for a conversion fee charged by the third party. Please ask them for details of any fees they apply. d. The American Express Exchange Rate is set daily. Any changes in the American Express Exchange Rate will be applied immediately and without notice. The rate charged is not necessarily the rate available on the date of the transaction as the rate applicable is determined by the date on which the Merchant, Travel Booking Provider or ATM operator submits a Charge to us which may not be the date on which the transaction is authorised. Fluctuations can be significant.