Dealing System definition
Examples of Dealing System in a sentence
The INVESTMENT MANAGER shall record cross-currency investment transactions in the peso regular books at their foreign currency amounts and their local currency equivalent using the Philippine Dealing System peso/US dollar closing rate and the New York US dollar/third currencies closing rate.
For conversion purposes for transactions between United States Dollars and Philippine Pesos or any other currency, the applicable exchange rate shall be the exchange rate as quoted by the Philippine Dealing System on the day of the transactions.
In case of payment via US dollar notes, the closing rate at the Philippine Dealing System of the previous banking day less P0.10 per US$1.00 (as and by way of FCDU handling cost) shall be used in determining the actual amount of payment.
In case payment of the Reservation Fee and/or Downpayment is made via postdated US dollar denominated checks, the closing rate at the Philippine Dealing System, at the time the said checks clear, shall be used in determining the actual amount of payment to be credited.
The Company also maintains a log of all the Client’s dealings with the Company via Dealing System or any other electronic medium.
In case of payment via US dollar wire transfer, the closing rate at the Philippine Dealing System on the date the amount transferred is actually credited to the account of the SELLER, shall be used in determining the actual amount of payment to be credited.