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

Currency of Payment to the Recipient. When the Customer requests a remittance to be made in a currency provided for in any of the following items, the currency of the payment to the recipient may differ from the currency originally designated by the Customer. In this case, laws and regulations, customs and practices of the relevant countries, as well as the procedures prescribed by the Banks Concerned, shall be observed in respect of the currency of payment, foreign exchange rate, fees, etc.: (i) The currency differs from the currency of the country in which the Paying Bank is located. (ii) The currency differs from the currency of the recipient’s deposit account.

Currency of Payment to the Recipient. When the Customer requests a remittance to be made in a the currency provided for in any of the following items, the currency of the payment to the recipient may differ from the currency originally designated by the Customer. In this case, laws and regulations, customs and practices of the relevant countries, as well as the procedures prescribed by the Banks Concerned, shall be observed in respect of the currency of payment, foreign exchange rate, fees, fees etc.: (i) The currency differs from the currency of the country in which the Paying Bank is located. (ii) The currency differs from the currency of the recipient’s deposit account.