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DoormanForward Exchange Contract

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Name of Bank

Forward Exchange Contract (to be submitted in Duplicate)
To: Branch Date

I/We

of(address)

hereby agree to:

(Foreign Currency and Amount Covering Currency)

 

(Australian dollar or other Foreign Currency)

a. Purchase

i.e.Bank Sells) against

b Sell

(i.e.Bank Buys) against

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 contract.
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 delivery date
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.

For and On Behalf of: (name of bank)

 

Date

 

 

 

For and On Behalf of: (full name)

(Customer)

By its Duly Authorised Officer/s

* Delete as appropriate and initial

Signature : ___________________________

Name:*

Email:*

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