April 9, 2013

Foreign currency claims

This post was written by: Aston Bond Law Firm

When suing in English Courts for a sum of money expressed in a foreign currency, the claim form and particulars of claim must expressly state:

  • That the claim is for payment in a specified foreign currency i.e euro or US dollars.
  • Why it is for payment in that currency i.e. the claim is for payment in [euro/US dollars] because the contract so provides.
  • The sterling equivalent of the sum at the date of the claim i.e. the cross rate of [EUROS/US dollars] to the £ sterling.
  • The source of the exchange rate relied on to calculate the sterling equivalent i.e. the rates according to FT.com.

Dion McCarthy, Trainee Solicitor