Common use of FX TRANSACTIONS Clause in Contracts

FX TRANSACTIONS. If Client requests a payment that will involve an FX Transaction, Verto will provide a quote that will include (i) the amount to be paid in the initial Supported Currency; (ii) the amount distributed to the identified beneficiary; (iii) the Exchange Rate; and (iv) any conversion Fees applicable to the transaction. Upon receiving the quote, Client may determine whether to accept the quote and initiate the payment transaction, subject to the other applicable terms of these U.S. Terms. Verto does not guarantee the availability of the quoted Exchange Rate for any period of time and Verto reserves the right to update the quote at any time prior to execution of the transaction. If the FX Transaction fails or is cancelled for any reason, including where the FX Transaction is rejected by one of our Payment Services Providers, Verto does not guarantee that the initial amount paid will be the amount returned to Client, given reversal or chargeback Fees may apply. FX transactions are performed by Verto’s Payment Service Providers.