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Quoting

In: The Exporter’s & Importer’s Handbook on Foreign Currencies

Author

Listed:
  • A. D. P. Edwards

Abstract

Quoting in foreign currencies can give rise to exchange risks and care must therefore be taken to minimise or remove the risk altogether. There are several ways in which this can be achieved: 1. Those exporters who have traditionally always sold in sterling can continue to quote and/or even publish price-lists in sterling but with the proviso that the sterling prices will be converted into the appropriate currency at the spot rate ruling in London on receipt of a firm order. This is tantamount to saying to the buyer that he will take the exchange risk up to the time he has decided to give the exporter an order but on doing so the exporter will then take the risk right up to the time when the buyer is due to pay. This is still an infinitely better deal than saying to the buyer that he must take the whole of the risk for the full period. 2. Quote in currency but subject to a validity period which should be kept as short as possible and subject to a currency clause drafted by solicitors along the following lines:

Suggested Citation

  • A. D. P. Edwards, 1990. "Quoting," Palgrave Macmillan Books, in: The Exporter’s & Importer’s Handbook on Foreign Currencies, chapter 17, pages 81-82, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-11852-6_18
    DOI: 10.1007/978-1-349-11852-6_18
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