Common use of Foreign Currency Drafts and Cheque Purchase Clause in Contracts

Foreign Currency Drafts and Cheque Purchase. AFEX may agree to purchase and convert a Foreign Currency draft(s) and cheque(s) that Client has received in its name and delivered to AFEX. AFEX may request additional information satisfactory to AFEX, in its sole discretion, that Client has the authority to deliver the Foreign Currency draft and cheque to AFEX for purposes of Foreign Currency conversion and negotiation.