Foreign Currency Settlement Sample Clauses
The Foreign Currency Settlement clause defines how payments or obligations under a contract will be handled when they involve currencies other than the local or base currency. Typically, this clause specifies the currency in which payments must be made, the applicable exchange rate, and the timing for determining that rate, such as the rate on the date of payment or another agreed date. By establishing clear rules for currency conversion and settlement, this clause helps prevent disputes over fluctuating exchange rates and ensures both parties understand their financial obligations in cross-border transactions.
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Foreign Currency Settlement. In the event that the Client directs ZUNDIAO to enter into any transaction on an exchange or other market on which such transactions are effected in a foreign currency: (a) any profit or loss arising as a result of a fluctuation in the exchange rate affecting such currency will be entirely for the account and risk of the Client; (b) all initial and subsequent deposits for margin purposes shall be made in such currency in such amounts as ZUNDIAO may, in the sole discretion of ZUNDIAO require; and (c) when such a transaction is liquidated ZUNDIAO shall debit or credit the Account in the currency in which such account is denominated at a rate of exchange (where the relevant transaction is denominated in currency other than that of the Account) determined by ZUNDIAO in the sole discretion of ZUNDIAO on the basis of the then prevailing money market rates of exchange between such currencies.
Foreign Currency Settlement. Designated Payment Instruments (“Foreign Currency Settlement Payment Instruments”) may be established to be billed and paid in selected foreign currencies detailed in the Application Form. All Transactions for that designated Foreign Currency Settlement Payment Instrument will be billed in the same foreign currency.