Common use of International Euro Corporate Card Clause in Contracts

International Euro Corporate Card. i) If you carry out a Charge that is submitted to us in a currency other than Euro, or if we receive a refund in a currency other than Euro, that Charge or refund will be converted into Euro using the American Express Exchange Rate (as described below). The conversion will take place on the date the Charge or refund is processed by us, which may not be on the same date on which you authorise the Charge or the date of the refund as it depends on when the Charge or refund was submitted to us. If the Charge is not in U.S. Dollars, the conversion will be made through U.S. Dollars, by converting the U.S. Dollar amount into Euro. If the Charge or refund is in U.S. Dollars, it will be converted directly into Euro. ii) Unless a specific rate is either required by applicable law, or is used as a matter of local custom or convention in the territory where the Charge or refund is made (in which case we will look to be consistent with that custom or convention), you understand and agree that the American Express treasury system will use conversion rates based on interbank rates that it selects from customary industry sources on the business day prior to the processing date (called “American Express Exchange Rate”), to which a fee of 2.7% will be applied or as otherwise disclosed by us. If Charges are converted by third parties prior to being submitted to us, any conversions made by those third parties will be at an exchange rate, and may include a commission or charge, selected by them. You should check the fees and charges before completing the Charge to ensure that you do not pay more than necessary.