Location: Qatar Financial Centre Legislation > QFC Regulations > Contract Regulations 2005 > Part 8: Performance > Article 81 - Currency of payment
Article 80 - Payment by funds transfer Article 82 - Currency not expressed
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Sep 14 2005 onwards

Article 81 - Currency of payment

Whole Section PDFCurrent Word version

(1) If a monetary obligation is expressed in a currency other than that of the place of payment, it may be paid by the Obligor in the currency of the place for payment unless:
(A) the currency is not freely convertible; or
(B) the parties have agreed that payment should be made only in the currency in which the monetary obligation is expressed.
(2) If it is impossible for the Obligor to make payment in the currency in which the monetary obligation is expressed, the Obligee may require payment in the currency of the place for payment, even in the case referred to in Article 81(1)(B).
(3) Payment in the currency of the place for payment is to be made according to the applicable rate of exchange prevailing there when payment is due.
(4) However, if the Obligor has not paid at the time when payment is due, the Obligee may require payment according to the applicable rate of exchange prevailing either when payment is due or at the time of actual payment.
Article 80 - Payment by funds transfer Article 82 - Currency not expressed

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