FX Contract Clause Samples

FX Contract. 4.1 You buy and sell currency to support commercial purposes including, but not limited to, the buying of goods and services and therefore you should NOT use any FX contract for investment or speculative purposes such as by trying to profit from fluctuations in foreign exchange rates. 4.2 On receipt of your Instruction, we will specify the amount of the Sale Currency required, the amount of the Purchase Currency which will be purchased for you, the exchange rate offered, applicable fees, any remittance costs, the terms for an Initial Reserve (if applicable) and a date by which the Sale Currency must have arrived in cleared funds in the bank account specified by us (collectively referred to in this agreement as the “Commercial Terms”). 4.3 Once you accept the Commercial Terms in the authorized format, you will become legally bound to perform the FX contract in accordance with those terms. 4.4 We may accept your Instruction(s) which include an Instruction to buy and sell currency at a particular price. This is known as a firm order. We will use our reasonable endeavors to execute such firm order in full at that price, but if market conditions prevent us from executing such Instruction(s) in full or at all, then we have no liability for that.