Common use of Foreign Currency Transactions Clause in Contracts

Foreign Currency Transactions. I understand any foreign currency transaction will result in the foreign currency being converted to Canadian dollars at the exchange rate in effect on a date determined by the Credit Union, which may be different from the date I request the transaction. If a foreign currency transaction must be reversed, for any reason, I agree that I will be responsible for any loss or cost associated with the currency exchange, and you may charge this loss or cost to my account. I also agree the Credit Union is not responsible for any increase or reduction in the value of my account due to changes in foreign currency exchange rates or for the unavailability of funds due to foreign currency restrictions.