Foreign Exchange Rates. 4.1 Where any of the Management Fees payments under this Agreement involves a cross-border transaction, the relevant exchange rate shall apply as follows: a) The exchange rate as at the date of invoice shall be applicable. b) The Client shall use an exchange rate as prescribed by a bank based in Singapore. c) The Company shall specify the exact exchange rate (either the average exchange rate or bank rate) on invoicing.
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Sources: Terms of Business, Terms of Business