Denominations clause: Copy, customize, and use instantly
Introduction
A denominations clause specifies the currency denominations in which payments or obligations will be made under the contract. It ensures clarity regarding the form and manner of payment, reducing potential disputes over the method or currency in which funds should be delivered.
Below are templates for denominations clauses tailored to different scenarios. Copy, customize, and insert them into your agreement.
Standard denominations clause
This variation applies to agreements where payments are made in a specific currency denomination.
All payments under this Agreement shall be made in U.S. dollars or any other currency agreed upon by the Parties in writing. If any payment is to be made in a currency other than U.S. dollars, the exchange rate applicable on the date of payment shall govern the conversion.
Multi-currency denominations clause
This variation applies to agreements where payments can be made in multiple currencies.
Payments under this Agreement may be made in any of the following currencies: U.S. dollars, Euros, or British pounds. The Parties agree to confirm the specific currency of payment in writing at least [X] days before the due date of payment. All currency conversions shall be made based on the exchange rate available on the date of payment.
Payment in local currency denominations clause
This variation applies to agreements where payments are made in the local currency of a specific country or region.
Payments under this Agreement shall be made in the local currency of [Country], unless otherwise agreed by the Parties in writing. If the Parties agree to a different currency, the exchange rate on the date of payment shall determine the conversion.
Foreign currency denominations clause
This variation applies to agreements where payments are made in foreign currencies.
All payments due under this Agreement shall be made in [Foreign Currency], unless otherwise agreed in writing by the Parties. The conversion of any payments from one currency to another shall be based on the exchange rate at the time of the transaction, as determined by [specific exchange rate source, e.g., the European Central Bank].
Denominations clause with payment method clarification
This variation applies to agreements that not only specify the currency but also clarify the method of payment.
Payments under this Agreement shall be made in U.S. dollars, unless otherwise specified. Payments will be made via wire transfer to the bank account designated by the recipient. If the Parties agree on a different payment method or currency, they must confirm in writing within [X] days of the agreement.
Denominations clause for international transactions
This variation applies to agreements involving international transactions where currency conversion is a factor.
Payments under this Agreement shall be made in U.S. dollars or any other mutually agreed currency. If any payment is made in a currency other than U.S. dollars, the Parties agree to use the exchange rate published by [specific financial institution or source] on the date of payment for conversion purposes.
Adjustable denominations clause
This variation applies to agreements where the denomination of payment can be adjusted based on certain conditions, such as inflation or currency value changes.
Payments under this Agreement shall be made in [Currency] unless the Parties mutually agree in writing to change the currency denomination due to economic factors such as inflation or currency devaluation. In such cases, the Parties will adjust the payment terms to reflect the new agreed currency denomination.
Digital currency denominations clause
This variation applies to agreements where payment is made in digital or cryptocurrency.
Payments under this Agreement may be made in digital currencies, including but not limited to Bitcoin or Ethereum, as agreed upon by the Parties. The amount of digital currency to be paid shall be calculated using the exchange rate of the agreed digital currency on the date of payment. If necessary, a third-party service shall be used to convert the digital currency into a fiat currency.
Payment in specified denominations clause
This variation applies to agreements that specify the denomination of payment, for example, a specific denomination of banknotes.
Payments under this Agreement shall be made in U.S. dollars and must be in denominations of [specify denominations, e.g., $100 bills]. Any payment made in other denominations must be approved by both Parties in writing prior to the payment date.
Fixed currency denomination clause
This variation applies to agreements where payments are made in a fixed currency.
All payments due under this Agreement shall be made in Japanese Yen, unless the Parties agree in writing to a different currency. The conversion of any foreign currency payments shall be based on the exchange rate on the date of payment, as published by [exchange rate source].
Specific currency denomination for cross-border agreements clause
This variation applies to agreements between businesses in different countries, specifying the use of a particular currency.
Payments under this Agreement shall be made in U.S. dollars for all cross-border transactions. The exchange rate applicable to any payments made in other currencies will be based on the rate on the date of payment, as published by [bank or financial institution].
Fixed amount payment clause with denomination specification
This variation applies to agreements specifying fixed payment amounts and their denomination.
The Parties agree that the total payment amount under this Agreement will be [amount] in British pounds sterling. If payment is made in any other currency, the Parties will use the exchange rate on the payment date for conversion.
Electronic funds transfer denominations clause
This variation applies to agreements specifying electronic funds transfer for payments.
All payments under this Agreement shall be made via electronic funds transfer in Canadian dollars. The designated bank account details for such payments will be provided by the recipient. If the Parties agree to pay in another currency, the exchange rate applicable at the time of transfer shall apply.
Payment based on prevailing exchange rate clause
This variation applies to agreements where payments are made in a specified currency but the conversion depends on the prevailing exchange rate.
Payments under this Agreement shall be made in U.S. dollars, unless otherwise agreed. If any payments are made in another currency, the conversion rate will be based on the exchange rate provided by [exchange rate source] on the day of payment.
Cryptocurrency denominations clause
This variation applies to agreements where cryptocurrency is used for payments.
All payments under this Agreement shall be made in Bitcoin or Ethereum, as agreed by both Parties. The total amount due shall be calculated based on the exchange rate of the relevant cryptocurrency to U.S. dollars at the time of payment.
Multi-currency conversion clause
This variation applies to agreements where payments can be made in multiple currencies, and the conversion between them is predefined.
Payments under this Agreement may be made in U.S. dollars, Euros, or British pounds. The exchange rate applicable to any payment made in a currency other than the agreed currency will be based on the rate on the date of payment as published by [financial institution].
Variable currency denomination clause
This variation applies to agreements that allow the currency denomination to vary based on location or situation.
Payments under this Agreement shall be made in the local currency of the country where the recipient is located, unless otherwise specified in writing by the Parties. If payments are made in a different currency, the exchange rate will be determined by [source].
Payment denomination change clause
This variation applies to agreements allowing the change of currency denomination during the course of the contract.
The Parties may mutually agree in writing to change the denomination of payments under this Agreement during the term. In such case, the exchange rate applicable will be determined as of the date the new currency denomination is agreed upon.
Foreign exchange risk clause
This variation applies to agreements where currency fluctuations may impact payment amounts.
Payments under this Agreement shall be made in U.S. dollars. The Parties acknowledge that the exchange rate between different currencies may fluctuate, and any foreign exchange risk arising from such fluctuations shall be borne by the Party making the payment.
Denominations for contract renewals clause
This variation applies to agreements with currency denomination specifications for contract renewals.
Payments for the renewal of this Agreement will be made in Euros. The renewal rate will be based on the current exchange rate for U.S. dollars to Euros on the renewal date. If the renewal payment is made in a different currency, the exchange rate at the time of renewal shall apply.
Payment currency conversion clause
This variation applies to agreements that define how payments in different currencies should be handled.
In the event that any payments are made in a currency other than U.S. dollars, the Parties agree that the currency conversion will be made using the exchange rate at the time of payment. The applicable exchange rate will be provided by [bank or currency exchange platform].
Denominations for variable payment plans clause
This variation applies to agreements with variable payment plans where the denomination can change.
Payments under this Agreement shall be made in U.S. dollars unless specified otherwise in writing by the Parties. If payment is to be made under a variable payment plan, the Parties will agree on the currency denomination for each installment, with currency conversion rates applicable at the time of each payment.
International business payment denomination clause
This variation applies to international agreements specifying payment denomination.
All payments under this Agreement shall be made in U.S. dollars or in the currency of the country where [Company Name] is located, as agreed by the Parties. The conversion rate between currencies will be based on the exchange rate on the payment date as specified by [currency exchange source].
Online payment denomination clause
This variation applies to agreements specifying online payment systems and currency.
Payments under this Agreement shall be made via [payment platform], in U.S. dollars. If the payment platform allows for payments in other currencies, the exchange rate at the time of the transaction will apply.
Fixed amount with fluctuating exchange rate clause
This variation applies to agreements with a fixed payment amount but a fluctuating exchange rate.
Payments under this Agreement shall be made in U.S. dollars. If the payment is to be made in another currency, the equivalent amount shall be determined based on the exchange rate of [source] on the date the payment is made.
Payment and denomination options clause
This variation applies to agreements where the payer can choose between multiple currency denominations.
Payments under this Agreement can be made in either U.S. dollars or Euros. The payment amount in the chosen currency will be determined by the exchange rate on the date the payment is made, and the payer must notify the recipient of the preferred currency within [X] days of the payment due date.
Settlement currency denomination clause
This variation applies to agreements specifying the currency for settlement of disputes or financial obligations.
Any payments resulting from disputes under this Agreement shall be made in the currency of the country where [Company Name] is based, unless otherwise agreed in writing by both Parties. If necessary, currency conversions will be made based on the exchange rate at the time of settlement.
Denominations clause with payment in installments
This variation applies to agreements specifying installment payments with currency denominations.
Payments under this Agreement shall be made in [currency] and will be divided into [X] equal installments. Each installment will be paid according to the specified payment schedule, with the applicable exchange rate based on the currency on the installment due date.
Default currency denomination clause
This variation applies to agreements where payments are made in the default currency unless agreed otherwise.
Payments under this Agreement shall be made in the default currency of [Country], which is [currency]. Any payments in a different currency must be agreed upon by the Parties in writing and will be subject to conversion at the exchange rate on the payment date.
Exchange rate fluctuation clause
This variation applies to agreements that account for exchange rate fluctuations between payment and settlement.
Payments under this Agreement shall be made in U.S. dollars, and in the event of any fluctuation in exchange rates between the signing of the Agreement and the payment date, the Parties agree to use the exchange rate prevailing on the date of the payment for currency conversion.
Payment in installments with currency denomination clause
This variation applies to agreements with installment payments, specifying currency denomination.
Payments under this Agreement shall be made in [currency] and will be divided into [X] equal installments. Each installment shall be paid according to the payment schedule, with the applicable exchange rate based on the currency value on the date of each installment.
Exchange rate adjustment clause
This variation applies to agreements that adjust payments based on changes in exchange rates over the contract period.
Payments under this Agreement shall be made in [currency]. If there is a change in the exchange rate by more than [X]% between the agreement date and the payment date, the Parties will adjust the amount to reflect the new exchange rate as determined by [source of exchange rate].
Payment in specified denominations clause
This variation applies to agreements where the payment must be made in specific denominations.
All payments under this Agreement shall be made in U.S. dollars, and must be in denominations of at least $100. Payments made in smaller denominations must be approved by both Parties in writing prior to payment.
Currency-based incentive compensation clause
This variation applies to agreements where employees or contractors are incentivized based on currency performance.
[Employee Name] will receive an incentive compensation based on the performance of the [currency] exchange rate against [benchmark currency]. The amount of incentive will be calculated based on the change in the exchange rate over the performance period, with payouts made annually.
Fixed-rate payment clause with currency denominations
This variation applies to agreements where fixed-rate payments are made, and the currency is pre-determined.
The total amount due under this Agreement shall be [fixed amount] in U.S. dollars, regardless of any exchange rate fluctuations. Payments must be made in U.S. dollars, and any conversion of currencies will be handled at the exchange rate on the date of payment.
Adjustable currency denomination clause
This variation applies to agreements where the payment currency can change under certain conditions.
Payments under this Agreement shall be made in U.S. dollars, unless the Parties mutually agree in writing to change the currency denomination due to changes in the economic or financial conditions. Any changes will take effect [X] days after the written agreement.
Currency conversion clause for international agreements
This variation applies to international contracts where payments may need to be converted between currencies.
All payments under this Agreement shall be made in [currency]. If any payment is made in a currency other than [currency], the conversion rate will be based on the exchange rate at the time of payment, as provided by [exchange rate provider].
Digital currency settlement clause
This variation applies to agreements where payments are made via digital or cryptocurrencies.
Payments under this Agreement shall be made using [cryptocurrency, e.g., Bitcoin, Ethereum], and the value of the payment shall be based on the cryptocurrency's exchange rate to U.S. dollars at the time of the payment. If the Parties agree, payments may be converted to fiat currency at the exchange rate on the date of payment.
Currency denomination clause for cross-border contracts
This variation applies to cross-border contracts specifying payment in one of the countries' local currencies.
All payments under this Agreement shall be made in the local currency of [Country A], unless otherwise specified in writing by the Parties. If payment is made in another currency, the conversion will be calculated based on the exchange rate on the date of payment.
Denomination change in case of hyperinflation clause
This variation applies to agreements where the currency denomination may change in the event of hyperinflation.
In the event of hyperinflation in the country of payment, the Parties agree that all payments under this Agreement will be made in [alternative currency], with the exchange rate determined by [specified authority] at the time of conversion.
Deferred payment currency denomination clause
This variation applies to agreements where the payment currency is specified for deferred payments.
The Parties agree that all deferred payments under this Agreement will be made in Euros. If the agreed currency is unavailable at the time of payment, the Parties will mutually agree on an alternate currency based on the current exchange rate.
Automatic conversion clause for foreign payments
This variation applies to agreements specifying that foreign payments will automatically convert to the agreed currency.
Payments made in a foreign currency shall be automatically converted into [currency] by [specified conversion service or provider] at the exchange rate on the payment date. Any conversion fees will be borne by [paying party].
Multi-payment currency clause
This variation applies to agreements where payments can be made in multiple currencies.
Payments under this Agreement can be made in U.S. dollars, British pounds, or Euros. The choice of currency will be determined by the paying party, and the exchange rate for any payments made in a different currency will be calculated on the payment date by [currency conversion provider].
Partial payment currency denomination clause
This variation applies to agreements specifying partial payments in different currencies.
In case of partial payments, the first payment will be made in [currency], and the second payment will be made in [second currency]. The exchange rate applicable to the second payment will be based on the exchange rate at the time of the second payment date.
Currency denomination clause with escalation clause
This variation applies to agreements where currency denomination is adjusted periodically for inflation.
Payments under this Agreement shall be made in U.S. dollars, with an annual adjustment to reflect changes in the [consumer price index, inflation rate, etc.]. The adjusted amount will be based on the inflation rate as determined by [specified financial institution or source].
Currency denomination with future revaluation clause
This variation applies to agreements where the currency denomination can be revalued in the future.
The Parties agree that the currency denomination for payments under this Agreement will initially be [currency], but the Parties may agree to revalue the payment currency based on [specified market conditions] at the time of each payment.
Currency fluctuation protection clause
This variation applies to agreements where payment terms protect against currency fluctuations.
Payments under this Agreement shall be made in [currency]. If there is a fluctuation in the exchange rate between the signing date and the payment date by more than [X]%, the Parties will adjust the amount of payment to reflect the change in exchange rates.
Payment denomination adjustment clause
This variation applies to agreements where the payment denomination can be adjusted according to economic conditions.
Payments under this Agreement shall initially be made in [currency], but may be adjusted to a different currency by mutual agreement if significant economic or market changes affect the value of [currency].
Fixed denomination in international contracts clause
This variation applies to international contracts where the payment is fixed in a specific currency.
All payments due under this Agreement shall be made in U.S. dollars, regardless of the location of the Parties. If a payment is made in any other currency, it will be converted into U.S. dollars using the exchange rate on the date of payment.
Non-USD payment clause
This variation applies to agreements where payments are made in a currency other than U.S. dollars.
Payments under this Agreement shall be made in [specified currency] unless otherwise agreed upon by the Parties in writing. All conversions will be made at the exchange rate on the payment date, and conversion costs will be borne by [specify party].
Cross-currency payment clause
This variation applies to agreements involving payments in multiple currencies.
Payments due under this Agreement shall be made in U.S. dollars, Euros, or Japanese Yen. The Party making the payment must select one currency for the payment. If no currency is specified, the default will be U.S. dollars, and the amount will be converted based on the exchange rate at the time of payment.
Payment currency conversion cost clause
This variation applies to agreements where one party bears the cost of currency conversion.
Payments under this Agreement shall be made in [currency], and any costs associated with converting payments from one currency to another shall be borne by [paying party]. The conversion rate will be determined by [currency conversion service] on the payment date.
Contract payment currency with inflation adjustment clause
This variation applies to agreements where the payment amount is adjusted for inflation.
Payments under this Agreement shall be made in [currency], with the payment amount adjusted annually to reflect changes in inflation as determined by [index or authority]. The adjustment will occur on [specified date] each year.
Cryptocurrency exchange rate clause
This variation applies to agreements where cryptocurrency payments are made with a specific exchange rate.
Payments under this Agreement shall be made in [cryptocurrency]. The payment amount will be calculated using the exchange rate of [cryptocurrency] to U.S. dollars on the date of payment, as determined by [cryptocurrency exchange].
Currency selection clause for international contracts
This variation applies to international contracts allowing the payer to select the currency.
The payer may choose to make payments under this Agreement in U.S. dollars, Euros, or any mutually agreed currency. The exchange rate for payments in any other currency will be determined by [specified exchange rate provider] on the date of payment.
Payment in local currency clause
This variation applies to agreements specifying payments in the local currency of a particular country.
All payments under this Agreement shall be made in the local currency of [Country], unless otherwise agreed upon by the Parties in writing. In the event of payment in a different currency, the conversion rate will be based on the exchange rate at the time of payment.
Payment currency revaluation clause
This variation applies to agreements allowing the denomination of payment to be revalued based on certain conditions.
Payments under this Agreement shall be made in [currency], with the amount subject to revaluation based on [specified criteria, such as market rates, commodity prices, etc.]. The revaluation will occur at regular intervals or upon specific events as agreed by the Parties.
Foreign currency risk-sharing clause
This variation applies to agreements where both parties share the risk of foreign currency fluctuations.
Payments under this Agreement shall be made in [currency]. In the event of a fluctuation of more than [X]% in the exchange rate between the signing date and payment date, both Parties will share the additional costs or savings equally.
Special circumstances currency clause
This variation applies to agreements where currency denominations are subject to special circumstances.
If any payments are required in a currency other than U.S. dollars due to special circumstances such as changes in government regulations or restrictions, the Parties agree to mutually select a replacement currency and apply an exchange rate based on the current market rate.
Currency designation clause for legal disputes
This variation applies to agreements that specify the currency to be used for resolving legal disputes.
In the event of a legal dispute arising from this Agreement, any monetary judgments or settlements will be made in [currency]. If payments are required in any other currency, the conversion will be based on the exchange rate at the time of payment.
Hybrid payment denomination clause
This variation applies to agreements that allow hybrid payments in both fiat and cryptocurrency.
Payments under this Agreement may be made in a combination of [fiat currency] and [cryptocurrency]. The specific payment allocation between fiat and cryptocurrency will be agreed by the Parties before the payment is due. Conversion between currencies will be based on the exchange rate at the time of payment.
Retroactive currency denomination clause
This variation applies to agreements that allow for retroactive adjustments to currency denominations.
Payments under this Agreement shall initially be made in [currency], but may be subject to retroactive adjustments if the currency denomination is changed by mutual agreement. The exchange rate for any adjustments will be determined by [specified source] on the date of the change.
Hybrid currency risk allocation clause
This variation applies to agreements with hybrid currencies (e.g., combining fiat and digital currency) and allocation of risk.
Payments under this Agreement shall be made in a combination of [fiat currency] and [cryptocurrency]. Any fluctuations in the value of the cryptocurrency relative to the fiat currency shall be shared equally by the Parties, and any changes in value will be calculated on the date of payment.
Local jurisdiction currency clause
This variation applies to agreements where the currency for payment is determined by the local jurisdiction.
Payments under this Agreement shall be made in the currency of the country where [Company Name] is incorporated, unless otherwise agreed upon. If the Parties mutually agree to a different currency, the exchange rate will be based on the rate from [exchange rate provider] on the payment date.
Currency conversion responsibility clause
This variation applies to agreements specifying who is responsible for the costs associated with currency conversion.
Payments under this Agreement shall be made in [currency]. The costs associated with converting payments to a different currency will be borne by [paying party], and the conversion rate will be based on the rate at the time of payment.
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