Common use of FOREX Clause in Contracts

FOREX. Transactions conducted outside Malaysia will be converted to Ringgit Malaysia on the date the transaction is received and/or processed. The exchange rate may differ from the rate charged on the date of transaction due to market fluctuation. Exchange rate will be based on the rate determined by Visa International, MasterCard International or American Express at its absolute discretion plus a foreign exchange fee of 1.25%. In addition, an administrative fee of 1% or at such other rate imposed by Maybank shall be charged for the conversion of the transaction made in foreign currency.

Appears in 3 contracts

Sources: Credit Card Agreement, Credit Card Agreement, Credit Card Agreement