Foreign Currency Conversion Rate Clause Samples
The Foreign Currency Conversion Rate clause defines how currency values are converted when transactions involve different national currencies. Typically, this clause specifies the reference rate to be used—such as a published bank rate on a particular date—or outlines the process for determining the applicable rate, including timing and responsible parties. Its core function is to ensure consistency and transparency in financial calculations, thereby preventing disputes over exchange rate fluctuations and clarifying the financial obligations of each party.
Foreign Currency Conversion Rate. If you effect a transaction at a merchant that settles in a currency other than U.S. dollars, Mastercard will convert the charge into a U.S. dollar amount. Mastercard’s currency conversion procedure includes use of either a government-mandated exchange rate, or a wholesale exchange rate selected by Mastercard, and the government-mandated exchange rate or wholesale exchange rate Mastercard uses for a particular transaction is the rate Mastercard selects for the applicable currency on the day the transaction is processed, which may differ from that applicable to the date the transaction occurred or when it is posted to the cardholder’s Account.
Foreign Currency Conversion Rate. If you effect a transaction at a merchant that settles in a currency other than U.S. dollars, the transaction amount will be converted into U.S. dollars at a government-mandated exchange rate, or a wholesale exchange rate. The government-mandated exchange rate or wholesale exchange rate is the rate selected for the applicable currency on the day the transaction is processed, which may differ from that applicable to the date the transaction occurred or when it is posted to your Account. Call Monitoring/Recording. You authorize us and any third party servicing your Account to listen to and record telephone calls with you to evaluate the quality of service or for any other lawful purpose, if permitted under applicable law. Sale/Assignment/Transfer. We may sell, assign, or transfer all or any portion of your Account or any Account balances due under your Account without prior notice to you. You may not sell, assign, or transfer your Card or your Account or any of your obligations under this Agreement. Use of Information about You and Your Account. Because you applied for a Card, we are entitled under applicable law, including the Fair Credit Reporting Act, to obtain information about you from a credit reporting agency. We may also verify your credit references and other information that you provide to us. We may obtain updated or additional information about you, including consumer reports, from time to time for any legitimate purpose including, but not limited to, the extension of credit to you or the review or collection of your Account. We will report late payments, missed payments, or other defaults on your Account to credit bureaus.
Foreign Currency Conversion Rate. I f you effect a