• A
• B
• C
• D
• E
• F
• G
• H
• I
• J
• K
• L
• M
• N
• O
• P
• Q
• R
• S
• T
• U
• V
• W
• X
• Y
• Z
• 0-9

Currency exchange

Last updated 07 June 2007

Description

Clause describing how sales or payments shall be converted from one currency to another.

Most agreements anticipate product sales and material supplies to be sourced from multiple countries. To cater for this situation, an agreement should designate a main currency for which all dealings in the contract will be calculated. Further, the parties should then agree how sales and payments in other currencies are converted to the main currency on a consistent and transparent basis.

Examples

Clause: Currency Exchange.

All payments to be made pursuant to this Agreement shall be made in United States dollars. Amounts based on Net Sales in currencies other than United States dollars shall be converted on the last business day of each calendar month to United States dollars at the WYETH financial statement exchange rate applied by WYETH on a consistent basis in WYETH's own financial accounting. -- License and Supply agreement between Access and Wyeth, January 2004

See Also

None