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Exchange Calculation


For the purposes of the rental, all rental amounts are first calculated in US dollars, which will then be converted to either Canadian Dollars or UK Pounds on the following basis:

Deposit:

Due with the rental agreement and will be denominated in whichever currency is agreed to at the time.  Once a certain currency is chosen it can not be changed for subsequent payments.

Rental Payment:

About 7 days prior to the due date a conversion of the total balance will be made to your preferred payment currency.  We use the cash/banknote sell rate as our exchange rate basis, and will be obtained from either of the following banks:

Canadian Dollar:  www.rbcroyalbank.com
UK Pounds:        www.barclays.co.uk

For example if your rental payment was due 7 days from now, the following calculation would apply:

                                            Canadian Dollar:                                                                UK Pounds

Total Rental due:                    USD 1,375.00                                                                  USD 1,300.00

Exchange rate:                               1.40                                                                                 1.50

Converted Amount:                 CAD  1,925.00                                                                  GBP 866.67

Less Deposit:                         CAD    500.00                                                                  GBP 400.00

Balance Payable:                   CAD    1,425.00                                                                GBP 466.67

We can accept personal cheques for payments in either currency, if you choose to pay by credit card a processing fee will also be applicable.

If you have any questions on the above please feel free to contact us.