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Commentary

54.4 Drafting points—currency

BOILERPLATE AND COMMERCIAL CLAUSES vol 4(3)
| Commentary

54.4 Drafting points—currency

| Commentary

54.4 Drafting points—currency

  1. (a)

        In which currency is payment to be made?

  2. (b)

        Is payment only permitted in the specified currency?

    1. (i)

          What are the consequences if payment is made in a currency other than the one specified in the contract?

    2. (ii)

          Will the payment be refused?

    3. (iii)

          If it is not to be refused, will the party receiving payment have the right to charge for its additional costs in converting the payment from the ‘wrong’ currency to the ‘right’ currency?

  3. (c)

        How and when is the currency to be converted? Is a particular method of exchanging and converting

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