Examples of Policy Currency in a sentence
Recoveries accruing in a Non-Approved Claim Currency are to be converted into the Policy Currency at the telegraphic transfer buying rate of exchange (between such currency and the Policy Currency) of the Insured’s bank at close of business on the day of receipt, whether or not such currency is actually converted into the Policy Currency on receipt.
The Insurer’s share of any such Recoveries accruing after payment of a claim must be paid to the Insurer in the Policy Currency.
The Permitted Credit Limits under the Policy, any other limits or Deductibles, premiums, limit management charges and any other charges are expressed in the Policy Currency, and such amounts will not vary according to changes in the exchange rate between the Policy Currency and any other currency, unless specifically agreed by the Insurer in writing.
All amounts payable to and due from the Company will be calculated and made in the Policy Currency, unless otherwise stated and subject to acceptance and approval by the Company.
If any amounts covered by this policy are paid in a currency other than the official currency of the country where this policy was issued (“Official Policy Currency”), then the payment will be considered to have been made in the Official Policy Currency at the conversion rate published in the Wall Street Journal at the time of the payment.