Common use of Fees and exchange rates Clause in Contracts

Fees and exchange rates. What are our “exchange rates”? When we refer to an exchange rate in this Agreement, it means the price of one country's currency compared to another’s at the relevant time for the relevant currency pair (for example, GBP to EUR) that we offer for a specific transaction. We determine this exchange rate by looking at central bank and market rates. Taking this approach enables us to consider a number of factors that may influence the value.