Cross-border payments involve two currencies and a moving exchange rate between them. If the contract doesn't say who carries that movement, someone ends up surprised — and disputes about surprise money are the worst kind. Three decisions, written down, prevent nearly all of them.

Decision 1 — the contract currency

• Name one currency as the currency of account: "All fees under this agreement are denominated in {{Currency}}."
• The party whose currency is NOT chosen carries the FX exposure. Price accordingly: if you invoice in the client's currency, build a buffer into your rate.
• Avoid "equivalent in local currency" phrasing with no rate mechanism — that's the clause that creates arguments.

Decision 2 — conversion timing

If payment happens in a different currency than the currency of account, fix the moment the rate is read:

• "Converted at the rate published by {{Rate source}} on the invoice date" — favors predictability for the biller.
• "…on the payment date" — simpler operationally, but the amount drifts between invoice and payment.
• Pick one and name a public rate source. Never leave the source to "the bank's rate" without naming which bank.

Decision 3 — who pays the fees

• Wire fees, intermediary-bank charges, and platform conversion spreads can eat several percent. State it: "The {{Payer / Payee}} bears all transfer and conversion fees; the amount received must equal the invoiced amount."
• The "amount received equals amount invoiced" formulation is the cleanest protection for the person being paid.

Optional protections for volatile pairs

• Adjustment band: "If {{Currency pair}} moves more than {{Percent}} between signing and invoicing, either party may request a rate review."
• Periodic repricing: for retainers, re-fix the local-currency amount quarterly instead of per invoice.
• Split exposure: agree a mid-rate between invoice-date and payment-date rates.

A model clause to adapt

"Fees are denominated in {{Currency}}. Where payment is made in another currency, the amount shall be converted at the {{Rate source}} closing rate on the invoice date. The paying party bears all transfer and conversion charges so that the amount received equals the amount invoiced. If the {{Currency pair}} rate changes by more than {{Percent}} from the rate on the effective date, the parties will review pricing in good faith."