Common use of Foreign Exchange on Business Travel Expenses Clause in Contracts

Foreign Exchange on Business Travel Expenses. FII will apply then current monetary exchange rates to all other acceptable business travel expenses for travel outside of Canada. The Recipient, when submitting claims for business travel expenses for travel outside of Canada, must convert amounts under each receipt into equivalent Canadian funds on the basis of actual exchange rates charged on supporting documentation (e.g., credit card statements, currency exchange slips, etc.), if available. Where different exchange rates are used for a particular currency over the period of travel, the Recipient must use the average of such different rates for the purposes of converting the foreign currency into equivalent Canadian dollars. If the actual exchange rate charged is not available, then the Recipient may use an Internet-based currency converter tool to obtain the historical exchange rate for the applicable currency for the range of dates travelled. The exchange rate that will be accepted by FII is the Interbank Rate plus 2% published at the following Internet site: xxxxx://xxx.xxxxxxxxxxxx.xx/rates/exchange/currency-converter

Foreign Exchange on Business Travel Expenses. FII will apply then current monetary exchange rates to all other acceptable business travel expenses for travel outside of Canada. The Recipient, when submitting claims for business travel expenses for travel outside of Canada, must convert amounts under each receipt into equivalent Canadian funds on the basis of actual exchange rates charged on supporting documentation (e.g., credit card statements, currency exchange slips, etc.), if available. Where different exchange rates are used for a particular currency over the period of travel, the Recipient must use the average of such different rates for the purposes of converting the foreign currency into equivalent Canadian dollars. If the actual exchange rate charged is not available, then the Recipient may use an Internet-based currency converter tool to obtain the historical exchange rate for the applicable currency for the range of dates travelled. The exchange rate that will be accepted by FII is the Interbank Rate plus 2% published at the following Internet site: xxxxx://xxx.xxxxxxxxxxxx.xx/rates/exchange/currency-converterxxxx://xxx.xxxxxxxxxxxx.xx/en/rates/exchform.html