Forward Exchange Contract
Exchange Contract | Customer
& Bank Use Only
from/to the bank subject to prevailing
government regulations with a delivery date of
I/We agree that the rate of exchange shall be the Bank's
forward exchange rate specified on the reverse of this
I/we further agree that if the deliveries are made by me/us
on other than the Telegraphic Transfer basis ( e.g. by
negotiation of on demand or terms bills ) the rate of
exchange applicable to such deliveries shall be subject to
such adjustment as the Bank determines.
Type of Contract:
* 1 Fixed Term Contract
Settlement is to be effected by delivery on the
I/we agree that the Bank is not obliged to effect settlement
under this contract prior to the delivery date.
I/We further agree that if at my/our request the Bank effects
settlement prior to the delivery date the rate of exchange
applicable to any such settlement shall be a rate of exchange
calculated by the Bank on the day of such settlement and not
necessarily the rate referred to above.
* 2 Contract with Optional Time for Settlement
At my/our option settlement under this contract may
be effected at any time
* (a) during the entire period up to the delivery date
referred to above: or
* (b) during the period commencing on the date specified on
the reverse of this contract and ending on the delivery date
referred to above.
I/we agree that if at my/our request the bank effects
settlement prior to commencement of the option period
specified above the rate of exchange applicable to any such
settlement shall be a rate of exchange calculated by the Bank
on the day such settlement is effected and not necessary the
rate referred to above.
I/we agree that any settlement hereunder shall be identified
with this contract at the time of such settlement by
production by me/us of a copy of this contract or other means
of identification acceptable to the Bank.
I/we undertake that in the event of inability on my/our part
to settle in full terms of this contract I/we shall, if
practicable, give the Bank notice in writing ( e.g. by
letter, telex, swift or facsimile) prior to the settlement
and I/we agree that if any balance so remaining is to be
cancelled or the time for settlement extended such
cancellation or extension of time shall be made on such terms
and conditions as the Bank may impose.
I/we agree that in the event of my/our failure to duly
complete this contract or the Bank terminating this contract
the Bank may forthwith sell/purchase the covering currency's
as appropriate and I/we shall be liable for any loss costs
and expenses incurred hereby.
I/we agree that my/our failure to observe or perform any
obligation under the terms of any other forward exchange
contract with the bank or any other party shall constitute
default under this contract and the Bank may hereupon
terminate this contract.