Currency Transfers Clause Samples
The Currency Transfers clause establishes the rules and procedures for making payments or transfers in specific currencies under an agreement. It typically outlines which currency must be used for payments, how currency conversions are handled if needed, and who bears the risk or costs associated with exchange rate fluctuations or transfer fees. This clause ensures that both parties are clear on the expectations and logistics of cross-border or multi-currency transactions, thereby reducing the risk of disputes and financial uncertainty related to currency issues.
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Currency Transfers. Fee and Product Payment Provisions. Global agrees to provide payment of fees associated with this License via wire transfer, credit card, or by check drawn on a U.S. bank. Global also agrees to prepay charges for orders submitted, including shipping and handling. All payments and fund transfers are to be made in U.S. dollars.
Currency Transfers. (1) Currency transfers according to art. 4, 5 and 6 will be carried out without delay, in convertible currency in which the investment was made or in any other freely convertible currency, if so agreed, at the exchange rate in force at the date of transfer.
(2) Without delay, within the meaning of paragraph 1, are considered the transfers that are made within a period that is normally required for the preparation of the transfer formalities. The term runs from the day on which it was submitted to the competent authorities, in the proper way, the application together with the necessary documents and must not, in any case, exceed a period of 2 months.
Currency Transfers. (1) The currency transfers referred to under Articles 4, 5 and 6 shall be made without delay in the convertible currency in which the investment was made or in another convertible currency, if it has been so agreed, at the exchange rate applicable on the of the transfer.
(2) For the purposes of paragraph 1, the term "without delay" shall be understood to mean that the transfers shall be made within a period that is normally necessary to comply with the transfer formalities. Said period shall run from the day on which the request and the necessary documents have been forwarded, through the appropriate channels, to the appropriate authorities.
Currency Transfers. Subject to the Company complying with the Exchange Control Act, the Government shall ensure the free transfer of funds related to the Company’s investment, namely:
(a) the initial contribution to capital or any addition thereof related to the maintenance or expansion of the Project;
(b) the income directly related to the Project;
(c) the proceeds of sale or total or partial liquidation of the investment;
(d) the repayments of any loan, including interest thereon, relating directly to the Project; and
(e) the amount of compensation, in the case of expropriation or temporary use of the investment of the Company by the Government or an agent of the Government. Should such compensation be paid in bonds of the public debt, the Company will be able to transfer the value of the proceeds from the sale of such bonds in the market.