Foreign Exchange Services. 17.1. In the course of providing services to the Client the Company may need to make currency conversions. The Company is entitled, without prior notice to the Client, to make any currency conversions which the Company considers necessary or desirable for the purposes of complying with its obligations or exercising its rights under the Agreement. Any such conversion shall be effected by the Company in such manner and at such rates as the Company may in its discretion determine, having regards to the prevailing rates for freely convertible currencies. The Company shall be entitled to charge to the Client and retain for the Company’s account the expenses incurred with regard to currency conversions for the Client, including commissions to banks, money transfer fees, commissions to intermediaries.
17.2. In the event of currency fluctuations, the Company will have no liability for any losses or damages incurred on the Client. All foreign currency exchange risk arising from any transaction on behalf of the Client or from the compliance by the Company with its obligations hereunder or the exercise by it of its rights under the Agreement will be borne by the Client.
Foreign Exchange Services. We hold an Australian Financial Services Licence authorising us to provide foreign exchange products and services. We offer Spot Contracts (to be settled within 2 days) and Forward Contracts (to be settled between 2 days and 12 months), the details and mechanics of which are explained in our PDS. You should read the PDS before entering into this agreement, so that you understand exactly how our service operates.
Foreign Exchange Services. This Service Description describes the terms and conditions under which we will make available to you our FX Transaction Service (“Service”), which is provided through our Online Banking for Business service (“OLBB”), as described in this Service Description. Your use of this Service is limited to foreign exchange spot and forward transactions (the types of which as permitted by us from time to time) (collectively called “FX Transactions” or individually, an “FX Transaction”). Your use of the Service will be subject to any credit restrictions, limitations, and other arrangements established by us. Your use of the Service is governed by the Master Agreement, this Service Description and the Service Documentation as updated and amended from time to time. Before using the Service you may be required to establish a deposit account (“Account”) with us which Account will be subject to our applicable deposit account agreement. In the event you have also entered into an ISDA Master Agreement with us, the terms of such ISA Master Agreement will remain in full force and effect. In the event of a conflict between the terms of the Master Agreement and your ISDA Master Agreement, the terms of the ISDA Master Agreement shall control.
Foreign Exchange Services. Borrower may enter into foreign exchange forward contracts with the Bank under which Borrower commits to purchase from or sell to Bank a set amount of foreign currency more than one business day after the contract date (a “FX Forward Contract”). The total FX Forward Contracts at any one time may not exceed 10 times the amount of the Other Services Availability. Bank may terminate the FX Forward Contracts if an Event of Default occurs.
Foreign Exchange Services. Key Currency may enter into transactions for the sale, purchase and delivery of currency (‘FX Contracts’) with the Client in accordance with an instruction by the Client (such instruction being an 'FX Order'). FX Contracts may include spot contracts, fixed forward contracts, open forward contracts, limit orders and stop orders (as detailed on the Key Currency website).
Foreign Exchange Services. 7.1 At Freemarket, you can exchange your currency:
7.1.1 with other clients on a scheduled basis in scheduled batches (“Scheduled Batch”), and where there is not sufficient liquidity for the currency pair, Freemarket will purchase additional liquidity from a third-party liquidity provider to complete the Scheduled Batch. A Scheduled Batch will complete when all funds have settled. Scheduled Batches occur daily at specified times, typically between 12pm and 1pm on a Business Day.
7.1.2 on a real time basis using the Real Time Pricing feature (“RTP”). If you use the RTP, you can create an exchange and agree the price for an Order (as defined in clause 7.3 below) in real time provided that you have sufficient funds on your Account to fund the Order at the time of execution. RTP is available for a range of currencies enabled on your Account, as they may be changed or added to from time to time. Contact your Relationship Manager at Freemarket for details on available currencies. RTP is available to use between 12am midnight (GMT) on a Sunday and 10pm (GMT) on a Friday. Our support team will be available to assist you with any technical issues between 9am and 5.30pm (GMT) on a Business Day.
7.2 You can make an order to exchange currency as part of our Foreign Exchange Services (“Order”) by creating an instruction from your Account to Sell or Buy (each as described below): A Sell (“Sell Order”) is where you indicate that you wish to convert a fixed amount of a source currency to a target currency. Your Sell Order can be requested through the RTP or included in the next Scheduled Batch. When the RTP or the Scheduled Batch completes (as applicable), the target currency is settled into your Account. If you selected a withdrawal as part of the Order, the withdrawal to the beneficiary is enabled for processing from your Account. A Buy (“Buy Order”) is where you indicate that you wish to buy a fixed amount of a target currency, using a different source currency. Your Buy Order can be requested through the RTP or included in the next Scheduled Batch. When the RTP or the Scheduled Batch completes (as applicable), the target currency is settled into your Account. If you selected a withdrawal as part of the Order, the withdrawal to the beneficiary is enabled for processing from your Account.
7.3 As part of the Order creation process you will be notified of the following including, but not limited to:
7.3.1 the information that must be provided by you in order for the Order...
Foreign Exchange Services. Where as a result of the execution of an International Transaction by Pershing an amount is to be paid by you to Pershing in a currency (Foreign Currency) other than Australian dollars, Pershing will arrange for conversion of the Australian dollars provided by you to Pershing into that Foreign Currency in a manner, at the conversion rate and at the time that Xxxxxxxx decides in its absolute discretion. Where, as a result of the execution of an International Transaction by Xxxxxxxx or the holding of any International Securities by Pershing Nominees for you under these Terms and Conditions, an amount (such as the proceeds of sale of International Securities or a dividend or other distribution paid in respect of International Securities) is to be paid to you by Pershing in a Foreign Currency, Pershing will arrange for the conversion of the Foreign Currency into Australian dollars in a manner, at the conversion rate and at that the time that Xxxxxxxx decides in its absolute discretion. Unless Pershing has agreed alternative arrangements with you, Pershing will pay (or arrange for the payment of) all such converted amounts directly to you. Pershing will not be liable for any loss suffered by you as a result of the conversion of an amount to or from Australian dollars or as a result of the timing of such conversion.
Foreign Exchange Services. 7.1 At Freemarket, you can exchange your currency:
7.1.1 with other clients on a scheduled basis in scheduled batches (“Scheduled Batch”), and where there is not sufficient liquidity for the currency pair, Freemarket will purchase additional liquidity from a third-party liquidity provider to complete the Scheduled Batch. A Scheduled Batch will complete when all funds have settled. Scheduled Batches occur daily at specified times, typically between 12pm and 1pm on a Business Day.
7.1.2 on a real time basis using the Real Time Pricing feature (“RTP”). If you use the RTP, you can create an exchange and agree the price for an Order (as defined in clause 7.3 below) in real time provided that you have sufficient funds on your Account to fund the Order at the time of execution. RTP is available for a range of currencies enabled on your Account, as they may be changed or added to from time to time. Contact your Relationship Manager at Freemarket for details on available currencies. RTP is available to use between 12am midnight (GMT) on a Sunday and 10pm (GMT) on a Friday. Our support team will be available to assist you with any technical issues between 9am and 5.30pm (GMT) on a Business Day.
7.2 You can make an order to exchange currency as part of our Foreign Exchange Services (“Order”) by creating an instruction from your Account to Sell or Buy (each as described below):
Foreign Exchange Services. The Finance Company may on application of the Company provide the Group with settlement and sales foreign exchange services. The exchange rates to be offered by the Finance Company will not be less favorable than that offered by other domestic financial institutions for similar services.
Foreign Exchange Services. CD may enter into a FX Contract with the Client in accordance with a FX Order given by the Client (if accepted by CD) and these Terms. FX Contracts between CD and the Client shall be solely limited to Spot Unmargined FX Contracts only. FX Orders may be Instant Orders or Limit Orders (as detailed on the CD website);
