Common use of Forward Contracts Clause in Contracts

Forward Contracts. 6.1. If you wish to enter a Forward Contract, you must also give us an Instruction to make a payment on or before the Value Date of the Forward Contract. If you fail to do so, we reserve the right to Close Out or reverse the currency conversion and return the funds to the bank or other account from which relevant currency was received. You will be liable for any loss and costs incurred by us in connection with this, and in addition we reserve the right to charge you a fee to cover our reasonable costs. 6.2. Where you give us an Instruction for a Forward Contact we may, at our sole discretion, require an Initial Margin of between 3% and 10% of the Sale Currency (or such other amounts as we may determine). The value of the Initial Margin will form part of the Forward Contact and will be disclosed to you prior to concluding a Forward Contact. Payment of the Initial Margin must be made to a bank account nominated by us. For larger or higher-risk transactions, we may insist on the Initial Margin being paid on or in advance of the deal date by CHAPS or same-day SWIFT payment. For the avoidance of doubt an Initial Margin is treated as a part payment of your Forward Contract and, unless agreed otherwise, will not be returned to you until settlement of the Forward Contract. FX transactions carry market risk and market movements could result in your Forward Contract(s) moving out of the money. 6.3. We may, at any time up to the Settlement Date, notify you that we require further funds to be delivered to and maintained on your behalf (a “Margin Call”). Reasons for requiring you to settle a Margin Call include, for example, to re-establish the Initial Margin percentage level; to put in place Margin where there has been no Initial Margin; or to increase the margin level where we determine this is required to cover any risks under a Forward Contract. Following receipt of notification to make a Margin Call, you agree to settle such Xxxxxx Call immediately. 6.4. We shall have the right, at our sole discretion, to determine the mark-to-market value of a Forward Contract at any time.

Forward Contracts. 6.1. If 20.1 Where you wish to enter into a Forward Contract, we may require you must also give us an Instruction to make a an initial Margin payment on or before within twenty-four (24) hours of you receiving the Value Date Transaction Receipt. 20.2 From time to time during the term of the Forward Contract. If you fail to do so, we reserve may require you to pay to us additional Margin (by making a Margin Call) to maintain the right to Close Out or reverse the currency conversion and return the funds to the bank or other account from which relevant currency was received. You will be liable for any loss and costs incurred by us in connection with this, and in addition we reserve the right to charge you a fee to cover our reasonable costs. 6.2. Where you give us an Instruction for a Forward Contact we may, at our sole discretion, require an Initial Margin of between 3% and 10% of the Sale Currency (or such other amounts as we may determine). The relative value of the Initial Margin will form part of the Forward Contact and will be disclosed to you prior to concluding a Forward Contact. Payment of the Initial Margin must be made to a bank account nominated by us. For larger or higher-risk transactions, we may insist on the Initial Margin being paid on or in advance of the deal date by CHAPS or same-day SWIFT payment. For the avoidance of doubt an Initial Margin is treated as a part payment of your Forward Contract and, unless agreed otherwise, will not be returned to you until settlement of the Forward Contract. FX transactions carry market risk and market movements could result in your Forward Contract(s) moving out of the moneyPurchase Currency. 6.3. We may, at any time up to 20.3 In the Settlement Date, notify you that we require further funds to be delivered to and maintained on your behalf (a “Margin Call”). Reasons for requiring you to settle a Margin Call include, for example, to re-establish the Initial Margin percentage level; to put in place Margin where there has been no Initial Margin; or to increase the margin level where we determine this is required to cover any risks under a Forward Contract. Following receipt event of notification to make a Margin Call, you agree must pay such additional Margin to settle such Xxxxxx Call immediatelyour Nominated Account within twenty-four (24) hours of our demand from your E-Money Account and/or by some other means. 6.420.4 If you do not satisfy the Margin Call, we may cancel the Forward Contract with immediate effect or Close Out. 20.5 Any Margin paid by you or on your behalf will be paid to us for the purpose of securing or covering all your present or future, actual or contingent, or prospective, obligations to us under this Agreement or otherwise. We will acquire full ownership of such Margin and we will shall not hold any Margin on your behalf (whether on trust or otherwise) and we can deal with it as our own. In the event of our insolvency, you will rank as a general creditor of ours in relation to such Margin paid to us. 20.6 We will owe you a debt equal to the amount of Margin received by us, subject to any set-off rights under, or other terms of, this Agreement, or under general law. We shall pay to you all or part of any amount of Margin owed to us by you (e.g. upon fulfilment of a Trade) under this clause to the extent that we consider, in our discretion, that the amount of Margin you have transferred to us exceeds the rightamount required by us to secure or cover all your present or future, actual or contingent, or prospective obligations to us under this Agreement or otherwise. 20.7 You may ask us to bring forward (pre-deliver) the Delivery Date or to extend (roll over) the Delivery Date in relation to the whole or only part of your Forward Contract. We may agree to such a request entirely at our sole discretion. If we agree, you acknowledge that we may adjust the Payment Amount to determine the mark-to-market value of a Forward Contract at any timereflect new Delivery Date.

Forward Contracts. 6.1. If 21.1 Where you wish to enter into a Forward Contract, we may require you must also give us an Instruction to make a an initial Margin payment on or before within twenty-four (24) hours of you receiving the Value Date Transaction Receipt. 21.2 From time to time during the term of the Forward Contract. If you fail to do so, we reserve may require you to pay to us additional Margin (by making a Margin Call) to maintain the right to Close Out or reverse the currency conversion and return the funds to the bank or other account from which relevant currency was received. You will be liable for any loss and costs incurred by us in connection with this, and in addition we reserve the right to charge you a fee to cover our reasonable costs. 6.2. Where you give us an Instruction for a Forward Contact we may, at our sole discretion, require an Initial Margin of between 3% and 10% of the Sale Currency (or such other amounts as we may determine). The relative value of the Initial Margin will form part of the Forward Contact and will be disclosed to you prior to concluding a Forward Contact. Payment of the Initial Margin must be made to a bank account nominated by us. For larger or higher-risk transactions, we may insist on the Initial Margin being paid on or in advance of the deal date by CHAPS or same-day SWIFT payment. For the avoidance of doubt an Initial Margin is treated as a part payment of your Forward Contract and, unless agreed otherwise, will not be returned to you until settlement of the Forward Contract. FX transactions carry market risk and market movements could result in your Forward Contract(s) moving out of the moneyPurchase Currency. 6.3. We may, at any time up to 21.3 In the Settlement Date, notify you that we require further funds to be delivered to and maintained on your behalf (a “Margin Call”). Reasons for requiring you to settle a Margin Call include, for example, to re-establish the Initial Margin percentage level; to put in place Margin where there has been no Initial Margin; or to increase the margin level where we determine this is required to cover any risks under a Forward Contract. Following receipt event of notification to make a Margin Call, you agree must pay such additional Margin to settle such Xxxxxx Call immediatelyour Nominated Account within twenty-four (24) hours of our demand from your E-Money Account and/or by some other means. 6.421.4 If you do not satisfy the Margin Call, we may cancel the Forward Contract with immediate effect or Close Out. 21.5 Any Margin paid by you or on your behalf will be paid to us for the purpose of securing or covering all your present or future, actual or contingent, or prospective, obligations to us under this Agreement or otherwise. We will acquire full ownership of such Margin and we will shall not hold any Margin on your behalf (whether on trust or otherwise) and we can deal with it as our own. In the event of our insolvency, you will rank as a general creditor of ours in relation to such Margin paid to us. 21.6 We will owe you a debt equal to the amount of Margin received by us, subject to any set-off rights under, or other terms of, this Agreement, or under general law. We shall pay to you all or part of any amount of Margin owed to us by you (e.g. upon fulfilment of a Trade) under this clause to the extent that we consider, in our discretion, that the amount of Margin you have transferred to us exceeds the rightamount required by us to secure or cover all your present or future, actual or contingent, or prospective obligations to us under this Agreement or otherwise. 21.7 You may ask us to bring forward (pre-deliver) the Delivery Date or to extend (roll over) the Delivery Date in relation to the whole or only part of your Forward Contract. We may agree to such a request entirely at our sole discretion. If we agree, you acknowledge that we may adjust the Payment Amount to determine the mark-to-market value of a Forward Contract at any timereflect new Delivery Date.

Forward Contracts. 6.1. If 22.1 Where you wish to enter into a Forward Contract, we may require you must also give us an Instruction to make a an initial Margin payment on or before within twenty-four (24) hours of you receiving the Value Date Transaction Receipt. 22.2 From time to time during the term of the Forward Contract. If you fail to do so, we reserve may require you to pay to us additional Margin (by making a Margin Call) to maintain the right to Close Out or reverse the currency conversion and return the funds to the bank or other account from which relevant currency was received. You will be liable for any loss and costs incurred by us in connection with this, and in addition we reserve the right to charge you a fee to cover our reasonable costs. 6.2. Where you give us an Instruction for a Forward Contact we may, at our sole discretion, require an Initial Margin of between 3% and 10% of the Sale Currency (or such other amounts as we may determine). The relative value of the Initial Margin will form part of the Forward Contact and will be disclosed to you prior to concluding a Forward Contact. Payment of the Initial Margin must be made to a bank account nominated by us. For larger or higher-risk transactions, we may insist on the Initial Margin being paid on or in advance of the deal date by CHAPS or same-day SWIFT payment. For the avoidance of doubt an Initial Margin is treated as a part payment of your Forward Contract and, unless agreed otherwise, will not be returned to you until settlement of the Forward Contract. FX transactions carry market risk and market movements could result in your Forward Contract(s) moving out of the moneyPurchase Currency. 6.3. We may, at any time up to 22.3 In the Settlement Date, notify you that we require further funds to be delivered to and maintained on your behalf (a “Margin Call”). Reasons for requiring you to settle a Margin Call include, for example, to re-establish the Initial Margin percentage level; to put in place Margin where there has been no Initial Margin; or to increase the margin level where we determine this is required to cover any risks under a Forward Contract. Following receipt event of notification to make a Margin Call, you agree must pay such additional Margin to settle such Xxxxxx Call immediatelyour Nominated Account within twenty-four (24) hours of our demand from your E-Money Account and/or by some other means. 6.422.4 If you do not satisfy the Margin Call, we may cancel the Forward Contract with immediate effect or Close Out. 22.5 Any Margin paid by you or on your behalf will be paid to us for the purpose of securing or covering all your present or future, actual or contingent, or prospective, obligations to us under this Agreement or otherwise. We will acquire full ownership of such Margin and we will shall not hold any Margin on your behalf (whether on trust or otherwise) and we can deal with it as our own. In the event of our insolvency, you will rank as a general creditor of ours in relation to such Margin paid to us. 22.6 We will owe you a debt equal to the amount of Margin received by us, subject to any set-off rights under, or other terms of, this Agreement, or under general law. We shall pay to you all or part of any amount of Margin owed to us by you (e.g. upon fulfilment of a Trade) under this clause to the extent that we consider, in our discretion, that the amount of Margin you have transferred to us exceeds the rightamount required by us to secure or cover all your present or future, actual or contingent, or prospective obligations to us under this Agreement or otherwise. 22.7 You may ask us to bring forward (pre-deliver) the Delivery Date or to extend (roll over) the Delivery Date in relation to the whole or only part of your Forward Contract. We may agree to such a request entirely at our sole discretion. If we agree, you acknowledge that we may adjust the Payment Amount to determine the mark-to-market value of a Forward Contract at any timereflect new Delivery Date.

Forward Contracts. 6.1. If 15.1 Where you wish to enter into a Forward Contract, we may require you must also give us an Instruction to make a an initial Margin payment on or before within twenty-four (24) hours of you receiving the Value Date Transaction Receipt. 15.2 From time to time during the term of the Forward Contract. If you fail to do so, we reserve may require you to pay to us additional Margin (by making a Margin Call) to maintain the right to Close Out or reverse the currency conversion and return the funds to the bank or other account from which relevant currency was received. You will be liable for any loss and costs incurred by us in connection with this, and in addition we reserve the right to charge you a fee to cover our reasonable costs. 6.2. Where you give us an Instruction for a Forward Contact we may, at our sole discretion, require an Initial Margin of between 3% and 10% of the Sale Currency (or such other amounts as we may determine). The relative value of the Initial Margin will form part of the Forward Contact and will be disclosed to you prior to concluding a Forward Contact. Payment of the Initial Margin must be made to a bank account nominated by us. For larger or higher-risk transactions, we may insist on the Initial Margin being paid on or in advance of the deal date by CHAPS or same-day SWIFT payment. For the avoidance of doubt an Initial Margin is treated as a part payment of your Forward Contract and, unless agreed otherwise, will not be returned to you until settlement of the Forward Contract. FX transactions carry market risk and market movements could result in your Forward Contract(s) moving out of the moneyPurchase Currency. 6.3. We may, at any time up to 15.3 In the Settlement Date, notify you that we require further funds to be delivered to and maintained on your behalf (a “Margin Call”). Reasons for requiring you to settle a Margin Call include, for example, to re-establish the Initial Margin percentage level; to put in place Margin where there has been no Initial Margin; or to increase the margin level where we determine this is required to cover any risks under a Forward Contract. Following receipt event of notification to make a Margin Call, you agree must pay such additional Margin to settle such Xxxxxx Call immediatelyour Nominated Account within twenty-four (24) hours of our demand. 6.415.4 If you do not satisfy the Margin Call, we may cancel the Forward Contract with immediate effect or Close Out. 15.5 Any Margin paid by you or on your behalf will be paid to us for the purpose of securing or covering all your present or future, actual or contingent, or prospective, obligations to us under the Agreement or otherwise. We will acquire full ownership of such Margin and we will not hold any Margin on your behalf (whether on trust or otherwise) and you agree that we can deal with it as our own. In the event of our insolvency, you will rank as a general creditor of ours in relation to such Margin paid to us. 15.6 We will owe you a debt equal to the amount of Margin received by us, subject to any set-off rights under, or other terms of, the Agreement, or under general law. We shall reimburse to you all or part of any amount of Margin (for example, upon fulfilment of a Trade) under this clause to the extent that we consider, in our absolute discretion, that the amount of Margin you have transferred to us exceeds the rightamount required by us to secure or cover all your present or future, actual or contingent, or prospective obligations to us under the Agreement or otherwise. 15.7 You may ask us to bring forward (pre-deliver) the Delivery Date or to extend (roll over) the Delivery Date in relation to the whole or only part of your Forward Contract. We may agree to such a request entirely at our sole discretion. If we agree, you acknowledge that we may adjust the Payment Amount to determine the mark-to-market value of a Forward Contract at any timereflect new Delivery Date.

Forward Contracts. 6.1a. Overview A “Forward Contract” allows you to lock in an exchange rate today for settlement on a specified future date. If you hold a personal account at OFX, Forward Contracts must be booked by telephone. If you hold a business account with us, Forward Contracts can be booked online or by telephone. When you book a Forward Contract you must specify the date on which you wish to enter a execute the transaction (“Settlement Date”). The Settlement Date must be at least 48 hours, but no more than 12 months, from the date on which you book the Forward Contract, you . You must also give us an Instruction to make a ensure that we receive payment for the full amount of the For- xxxx Contract on or before the Value Settlement Date. If we do not receive full payment by the Settlement Date, we reserve the right to reverse the Transaction. You agree and acknowledge that you will be responsible for any Reversal Losses resulting from reversing a Forward Contract. b. Advance Payments In some instances, we may request one of more partial payments as security in relation to a Forward Contract prior to the Settlement Date (“Advance Payment”). The Advance Payment may be requested by us when you book the Transaction and/or at any time prior to the Settle- ment Date. The amount of any Advance Payment will be determined by us at our sole discretion and generally will be calculated as a per- centage of the value of the Forward Contract. If you fail to do soprovide an Advance Payment when requested by us, we reserve the right to Close Out or reverse the currency conversion Transaction and return the funds to the bank or other account from which relevant currency was received. You you will be liable responsible for any loss and costs incurred by us Reversal Losses resulting from such reversal. In the event we incur Reversal Losses in connection with this, and in addition we reserve the right relation to charge you a fee to cover our reasonable costs. 6.2. Where you give us an Instruction for reversal of a Forward Contact we may, at our sole discretion, require an Initial Margin of between 3% and 10% of the Sale Currency (or such other amounts as we may determine). The value of the Initial Margin will form part of the Forward Contact and will be disclosed to you prior to concluding a Forward Contact. Payment of the Initial Margin must be made to a bank account nominated by us. For larger or higher-risk transactionsContract, we may insist on the Initial Margin being exercise our right of set-off. You acknowledge and agree that no interest will be paid on or in advance of the deal date by CHAPS or same-day SWIFT payment. For the avoidance of doubt an Initial Margin is treated as a part payment of your Forward Contract and, unless agreed otherwise, will not be returned to you until settlement of the Forward Contract. FX transactions carry market risk and market movements could result by OFX in your Forward Contract(s) moving out of the moneyrelation to any funds held by us, including an Advance Payment. 6.3. We may, at any time up to the Settlement Date, notify you that we require further funds to be delivered to and maintained on your behalf (a “Margin Call”). Reasons for requiring you to settle a Margin Call include, for example, to re-establish the Initial Margin percentage level; to put in place Margin where there has been no Initial Margin; or to increase the margin level where we determine this is required to cover any risks under a Forward Contract. Following receipt of notification to make a Margin Call, you agree to settle such Xxxxxx Call immediately. 6.4. We shall have the right, at our sole discretion, to determine the mark-to-market value of a Forward Contract at any time.