Common use of Transfers and Payments Clause in Contracts

Transfers and Payments. 1. Each Party shall permit transfers and payments for current transactions relating to its specific commitments to be made freely and without delay into and out of its territory. 2. Each Party shall permit such transfers and payments relating to the supply of services to be made in a freely usable currency at the market rate of exchange prevailing on the date of transfer. 3. Notwithstanding paragraphs 1 and 2, a Party may prevent or delay a transfer or payment through the equitable, non- discriminatory and good faith application of its laws relating to: (a) bankruptcy, insolvency or the protection of the rights of creditors; (b) issuing, trading or dealing in securities, futures, options, or derivatives; (c) financial reporting or record keeping of transfers when necessary to assist law enforcement or financial regulatory authorities; (d) criminal or penal offences; or

Transfers and Payments. 1. Each Party shall permit all transfers and payments for current transactions relating to its specific commitments the cross-border supply of services to be made freely and without delay into and out of its territory. 2. Each Party shall permit such transfers and payments relating to the cross- border supply of services to be made in a freely usable currency at the market rate of exchange prevailing on at the date time of transfer. 3. Notwithstanding paragraphs 1 and 2, a Party may prevent or delay a transfer or payment through the equitable, non- discriminatory discriminatory, and good faith application of its laws relating to: (a) bankruptcy, insolvency insolvency, or the protection of the rights of creditors; (b) issuing, trading trading, or dealing in securities, futures, options, or derivatives; (c) financial reporting or record keeping of transfers when necessary to assist law enforcement or financial regulatory authorities; (d) criminal or penal offencesoffenses; or