Common use of Foreign Currency Exchange Clause in Contracts

Foreign Currency Exchange. Bank may send international wire transfers in U.S. Dollars or in the local currency used in the location where the account receiving the wire transfer is located. If such funds will be transferred in a currency other than U.S. Dollars, you agree to validly purchase such foreign currency from Bank or one of Bank’s affiliates at Bank’s then-current exchange rate for transfers to the place of payment. The exchange rate for transfers made via BMO Global Pay may be different than the exchange rate for other types of wire transfers. Any loss of exchange arising from subsequent cancellation of such transfer request or because of a rejection of delivery for any reason shall be for your account. You agree that if Bank uses the services of other banks for the purpose of giving effect to any request or order for the transfer of funds in foreign currency, then the Bank does so for your account and at your risk. You agree to pay for any such international funds transfers in U.S. Dollars as set forth in this Service Description, unless such other arrangements for origination and payment are made between you and Bank in writing.