Common use of Payment to us Clause in Contracts

Payment to us. Spot Contract Payments - You must pay us the full amount of a Spot Contract on the day the FX transaction becomes legally binding by payment into our nominated account. If we have not received the funds by the Maturity Date, we reserve the right to Close Out the FX transaction. Forward Contract Payments - You must pay us the full amount of funds that are the subject of the Forward Contract (less any deposit/s paid) and any fees that are payable before the Maturity Date by payment into our nominated account. If we have not received the funds by the Maturity Date, we reserve the right to Close Out the FX transaction. You must make all payments to our nominated account electronically from a bank account in your name. We do not accept cash or cheques. If you want to make the payment from someone else’s account, we may require evidence that you are entitled to the funds. Please tell us if you’d like to do this so there is not a delay in your transaction.