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Section X— Secondary Options

Clause X3

Multiple Currencies

Purpose

The Prices are stated in the currency of the contract. The Contract Data specifies the currencies for payments and the exchange rates.

Practical Application

Used for international projects where the Contractor incurs costs in multiple currencies. The exchange rates stated in the Contract Data apply throughout the contract.

Common Pitfalls

Exchange rate fluctuations between the contract rate and the actual rate at the time of payment are the Contractor's risk. Use the contract rate for all CE assessments.

📖 This summary is for reference. For the full, authoritative NEC4 contract text — including all amendments, guidance notes, and flow charts — visit the official NEC website.

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⚠️ This commentary is for reference only. Always refer to the full NEC4 contract text and seek professional legal or contractual advice for your specific project.