4. BANKING COORDINATES AND INSTRUCTIONS FOR USD-P and EUR-P: Bank account data are attached to Schedule „A“ and cannot be amended for the duration of this agreement without all beneficiaries of advisory fees and commissions being informed in writing five days before each change. 7. LAW AND ARBITRATION: This contract is a full appeal obligation, applicable under the jurisdictional laws of the countries in which this transaction is made, and any dispute must be settled in accord with ICC rules for arbitration, unless the aggrieved party takes legal action before a court of law. Swiss, British or any other law on the territory of the EU is the applicable law to which the aggrieved party can choose and governs the interpretation, construction, applicability, performance, enforcement, validity and all other such matters relating to this contractual agreement. The parties recognize and accept that any discrepancies and/or disputes in the application of this agreement are resolved by mutual agreement, but if this is not possible, arbitration must be followed. In general, forward exchange rates for most currency pairs can be maintained for up to 12 months in the future. There are four pairs of currencies known as „big pairs.“ This is the U.S. dollar and the euro; The U.S. dollar and the Japanese yen; The U.S. dollar and the pound sterling; Swiss dollars and francs.
For these four pairs, exchange rates can be maintained for up to 10 years. Contractual deadlines of a few days are also available for many suppliers. Although a contract can be adjusted, most companies only see the value of an appointment change contract if they set a minimum amount at $30,000. CONSIDERING that, in view of mutual promises and alliances, guarantees are guaranteed, in the case of other counterparties of quality and value whose reception and sufficiency are accepted, the undersigned parties agree and declare that they wish to conclude this agreement for the exchange of US dollars (USD) in euros (EUR) under the following conditions: this foreign exchange transaction is a banking transaction at the bank that will be carried out via a bank transfer following a banking agreement, in accordance with the following banking conditions and procedures. 11. FORCE MAJEURE: the „FORCE MAJEURE“ derogation clause of the International Chamber of Commerce (ICC Publication No. 421) is included in this agreement and is an integral part of this agreement.