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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>64360</law_id><section_number>8.01-465.18</section_number><catch_line>Determining amount of the money of certain contract claims</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>8.01-465.20</reference></referred_to_by><structure><unit label="title" level="1" order_by="1" identifier="8.01">Civil Remedies and Procedure</unit><unit label="chapter" level="2" order_by="1" identifier="17.3">Uniform Foreign-Money Claims Act</unit></structure><text>
						<section id="A"><p><span class="prefix-number">A.</span> If an amount contracted to be paid in a <span class="dictionary">foreign money</span> is measured by a specified amount of a different money, the amount to be paid is determined on the <span class="dictionary">conversion date</span>. <a id="paragraph-234221" class="section-permalink" href="https://vacode.org/8.01-465.18/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> If an amount contracted to be paid in a <span class="dictionary">foreign money</span> is to be measured by a different money at the <span class="dictionary">rate of exchange</span> prevailing on a date before <span class="dictionary">default</span>, that <span class="dictionary">rate of exchange</span> applies only to payments made within a reasonable time after <span class="dictionary">default</span>, not exceeding thirty days. Thereafter, conversion is made at the <span class="dictionary">bank-offered spot rate</span> on the <span class="dictionary">conversion date</span>. <a id="paragraph-234222" class="section-permalink" href="https://vacode.org/8.01-465.18/#B"><i class="fa fa-link"/></a></p></section>
						<section id="C"><p><span class="prefix-number">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&#x2019;s obligation to be paid in the debtor&#x2019;s money, when received by the <span class="dictionary">creditor</span>, must equal a special amount of the <span class="dictionary">foreign money</span> of the country of the <span class="dictionary">creditor</span>. If, because of unexcused delay in payment of a <span class="dictionary">judgment</span> or award, the amount received by the <span class="dictionary">creditor</span> does not equal the amount of the <span class="dictionary">foreign money</span> specified in the agreement, the <span class="dictionary">court</span> or arbitrator shall <span class="dictionary">amend</span> the <span class="dictionary">judgment</span> or award accordingly. <a id="paragraph-234223" class="section-permalink" href="https://vacode.org/8.01-465.18/#C"><i class="fa fa-link"/></a></p></section></text><history>1991, c. 24.</history><metadata></metadata></law>
