{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.01-465.18.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.01-465.18.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.01-465.18.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.01-465.18.html"}],"law_id":64360,"edition_id":1,"section_id":64360,"structure_id":15549,"section_number":"8.01-465.18","catch_line":"Determining amount of the money of certain contract claims","history":"1991, c. 24.","full_text":"A\n\nIf an amount contracted to be paid in a foreign money is measured by a specified amount of a different money, the amount to be paid is determined on the conversion date.B\n\nIf an amount contracted to be paid in a foreign money is to be measured by a different money at the rate of exchange prevailing on a date before default, that rate of exchange applies only to payments made within a reasonable time after default, not exceeding thirty days. Thereafter, conversion is made at the bank-offered spot rate on the conversion date.C\n\nA monetary claim is neither usurious nor unconscionable because the agreement on which it is based provides that the amount of the debtor’s obligation to be paid in the debtor’s money, when received by the creditor, must equal a special amount of the foreign money of the country of the creditor. If, because of unexcused delay in payment of a judgment or award, the amount received by the creditor does not equal the amount of the foreign money specified in the agreement, the court or arbitrator shall amend the judgment or award accordingly.","order_by":null,"text":{"0":{"id":234221,"text":"If an amount contracted to be paid in a foreign money is measured by a specified amount of a different money, the amount to be paid is determined on the conversion date.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":234222,"text":"If an amount contracted to be paid in a foreign money is to be measured by a different money at the rate of exchange prevailing on a date before default, that rate of exchange applies only to payments made within a reasonable time after default, not exceeding thirty days. Thereafter, conversion is made at the bank-offered spot rate on the conversion date.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":234223,"text":"A monetary claim is neither usurious nor unconscionable because the agreement on which it is based provides that the amount of the debtor’s obligation to be paid in the debtor’s money, when received by the creditor, must equal a special amount of the foreign money of the country of the creditor. If, because of unexcused delay in payment of a judgment or award, the amount received by the creditor does not equal the amount of the foreign money specified in the agreement, the court or arbitrator shall amend the judgment or award accordingly.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":15549,"edition_id":1,"name":"Uniform Foreign-Money Claims Act","identifier":"17.3","label":"chapter","depth":2,"order_by":1,"parent_id":12747,"metadata":{},"date_created":"2026-06-26 03:56:13","date_modified":"2026-06-26 03:56:13","permalink":{"id":278013,"object_type":"structure","relational_id":15549,"identifier":"17.3","token":"8.01\/17.3","url":"\/8.01\/17.3\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12747,"edition_id":1,"name":"Civil Remedies and Procedure","identifier":"8.01","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":277029,"object_type":"structure","relational_id":12747,"identifier":"8.01","token":"8.01","url":"\/8.01\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":73220,"structure_id":15549,"section_number":"8.01-465.14","catch_line":"Definitions","url":"\/8.01-465.14\/","token":"8.01\/17.3\/8.01-465.14","metadata":false},{"id":68474,"structure_id":15549,"section_number":"8.01-465.15","catch_line":"Scope","url":"\/8.01-465.15\/","token":"8.01\/17.3\/8.01-465.15","metadata":false},{"id":67562,"structure_id":15549,"section_number":"8.01-465.16","catch_line":"Variation by agreement","url":"\/8.01-465.16\/","token":"8.01\/17.3\/8.01-465.16","metadata":false},{"id":59309,"structure_id":15549,"section_number":"8.01-465.17","catch_line":"Determining money of the claim","url":"\/8.01-465.17\/","token":"8.01\/17.3\/8.01-465.17","metadata":false},{"id":64360,"structure_id":15549,"section_number":"8.01-465.18","catch_line":"Determining amount of the money of certain contract claims","url":"\/8.01-465.18\/","token":"8.01\/17.3\/8.01-465.18","metadata":false},{"id":84534,"structure_id":15549,"section_number":"8.01-465.19","catch_line":"Asserting and defending foreign-money claim","url":"\/8.01-465.19\/","token":"8.01\/17.3\/8.01-465.19","metadata":false},{"id":76398,"structure_id":15549,"section_number":"8.01-465.20","catch_line":"Judgments and awards on foreign-money claims; times of money conversion; form of judgment","url":"\/8.01-465.20\/","token":"8.01\/17.3\/8.01-465.20","metadata":false},{"id":61984,"structure_id":15549,"section_number":"8.01-465.21","catch_line":"Conversions of foreign money in distribution proceeding","url":"\/8.01-465.21\/","token":"8.01\/17.3\/8.01-465.21","metadata":false},{"id":69272,"structure_id":15549,"section_number":"8.01-465.22","catch_line":"Prejudgment and judgment interest","url":"\/8.01-465.22\/","token":"8.01\/17.3\/8.01-465.22","metadata":false},{"id":63640,"structure_id":15549,"section_number":"8.01-465.23","catch_line":"Enforcement of foreign judgments","url":"\/8.01-465.23\/","token":"8.01\/17.3\/8.01-465.23","metadata":false},{"id":68655,"structure_id":15549,"section_number":"8.01-465.24","catch_line":"Determining United States dollar value of foreign-money claims for limited purposes","url":"\/8.01-465.24\/","token":"8.01\/17.3\/8.01-465.24","metadata":false},{"id":81957,"structure_id":15549,"section_number":"8.01-465.25","catch_line":"Effect of substitution of currency by issuing authority","url":"\/8.01-465.25\/","token":"8.01\/17.3\/8.01-465.25","metadata":false}],"previous_section":{"id":59309,"structure_id":15549,"section_number":"8.01-465.17","catch_line":"Determining money of the claim","url":"\/8.01-465.17\/","token":"8.01\/17.3\/8.01-465.17","metadata":false},"next_section":{"id":84534,"structure_id":15549,"section_number":"8.01-465.19","catch_line":"Asserting and defending foreign-money claim","url":"\/8.01-465.19\/","token":"8.01\/17.3\/8.01-465.19","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.01-465.18\/","history_text":"

This law was first created in 1991. The record of its establishment is cataloged in chapter 24 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1991 \u201cActs\u201d aren\u2019t available online.<\/p>","references":[{"id":76398,"section_number":"8.01-465.20","catch_line":"Judgments and awards on foreign-money claims; times of money conversion; form of judgment","order_by":null,"url":"\/8.01-465.20\/"}],"refers_to":false,"permalink":{"id":278031,"object_type":"law","relational_id":64360,"identifier":"8.01-465.18","token":"8.01\/17.3\/8.01-465.18","url":"\/8.01-465.18\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.01-465.18\/","token":"8.01\/17.3\/8.01-465.18","dublin_core":{"Title":"Determining amount of the money of certain contract claims","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.01-465.18","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> If an amount contracted to be paid in a foreign money<\/span> is measured by a specified amount of a different money, the amount to be paid is determined on the conversion date<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> If an amount contracted to be paid in a foreign money<\/span> is to be measured by a different money at the rate of exchange<\/span> prevailing on a date before default<\/span>, that rate of exchange<\/span> applies only to payments made within a reasonable time after default<\/span>, not exceeding thirty days. Thereafter, conversion is made at the bank-offered spot rate<\/span> on the conversion date<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> A monetary claim is neither usurious nor unconscionable because the agreement on which it is based provides that the amount of the debtor’s obligation to be paid in the debtor’s money, when received by the creditor<\/span>, must equal a special amount of the foreign money<\/span> of the country of the creditor<\/span>. If, because of unexcused delay in payment of a judgment<\/span> or award, the amount received by the creditor<\/span> does not equal the amount of the foreign money<\/span> specified in the agreement, the court<\/span> or arbitrator shall amend<\/span> the judgment<\/span> or award accordingly. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDETERMINING AMOUNT OF THE MONEY OF CERTAIN CONTRACT CLAIMS (\u00a7 8.01-465.18)\n\nA. If an amount contracted to be paid in a foreign money is measured by a\nspecified amount of a different money, the amount to be paid is determined on\nthe conversion date.\n\nB. If an amount contracted to be paid in a foreign money is to be measured by a\ndifferent money at the rate of exchange prevailing on a date before default,\nthat rate of exchange applies only to payments made within a reasonable time\nafter default, not exceeding thirty days. Thereafter, conversion is made at the\nbank-offered spot rate on the conversion date.\n\nC. A monetary claim is neither usurious nor unconscionable because the agreement\non which it is based provides that the amount of the debtor’s obligation\nto be paid in the debtor’s money, when received by the creditor, must\nequal a special amount of the foreign money of the country of the creditor. If,\nbecause of unexcused delay in payment of a judgment or award, the amount\nreceived by the creditor does not equal the amount of the foreign money\nspecified in the agreement, the court or arbitrator shall amend the judgment or\naward accordingly.\n\nHISTORY: 1991, c. 24.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}