The Board may reduce the Maximum Monthly Contribution and/or the Maximum Contribution and/or vary (including a variation by way of reduction) the Local Currency Equivalent thereof. If GKN considers that the Supplier may not be of sufficient financial strength to meet any liabilities to GKN it may incur under the Contract relating to Defective Products or Services, GKN may require that the Supplier obtain product guarantee and product recall insurance with a limit of indemnity of not less than £10 million per claim (or the Local Currency Equivalent), including by requiring that the Supplier participates in any insurance scheme relating thereto from time to time facilitated by GKN.Īny daily rates for individuals proposed cannot exceed the USAID max daily rate of $705 USD or Local Currency Equivalent. This cultural and social value system is as manifest as possible at the community level3, causing inter-human relations to be greatly influenced by Confucianism. If it is contrary to any governmental restriction or regulatory obligation for us to perform any payment obligation in respect of any Transaction, we may (if and to the extent that it would not be contrary to any governmental restriction to do so and if permissible by law) pay to you the equivalent amount in the local currency of the place in which the underlying asset relating to such Transaction is located (the " Local Currency Equivalent").Īny daily rates for individuals proposed can not exceed the USAID max daily rate of $705 USD or Local Currency Equivalent. In addition, UPS reserves the right to charge a late payment administration fee up to a maximum of the Local Currency Equivalent of 40 EUR per invoice. In addition the value of any jewellery and watches, other than costume jewellery or costume watches, in one package shall not exceed the Local Currency Equivalent of USD 500. Examples of Local Currency Equivalent in a sentenceįor the purposes of this provision, the Local Currency Equivalent shall be calculated at the best spot rate at which you offer to sell the local currency, at or about a time chosen by you on the date on which you make payment in accordance with this provision, in exchange for the Contract Currency that you would have paid to me if you had performed such Contract.
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