Common use of Currency of Payment to the payee Clause in Contracts

Currency of Payment to the payee. Where the applicant requests a remittance to be made in the currency provided for in any of the following Subparagraphs, the currency of payment to the payee may differ from the currency originally designated by the applicant. In such cases, laws, regulations, customs and practices of the relevant countries, as well as certain procedures prescribed by the Banks Concerned, shall be observed in respect to the currency of payment, foreign exchange rate, charges and such.