Foreign Currency and Banking. 15.1 Bank Accounts in Suriname Contractor shall be authorized to open and hold bank accounts in Suriname denominated in foreign currencies for the conduct of Petroleum Operations
Foreign Currency and Banking
Foreign Currency and Banking Sample Clauses
Related to Foreign Currency and Banking
Foreign Currency Transactions If the Depositor provides instructions to the Financial Institution on an Account that is denominated in a currency other than the currency of the Account, a conversion of currency may be required. In all such Transactions and at any time a conversion of currency is made, the Financial Institution may act as principal with the Depositor in converting the currency at rates established or determined by the Financial Institution, affiliated parties, or parties with whom the Financial Institution contracts. The Financial Institution, its affiliates, and contractors may earn revenue and commissions, in addition to applicable service charges, based on the difference between the applicable bid and ask rates for the currency and the rate at which the rate is offset in the market.
Currency All sums of money which are referred to in this Agreement are expressed in lawful money of Canada, unless otherwise specified.
