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Hello!
When I moved to the UK, the moving company broke a bunch of my things. I've reached an agreement with the movers (it's a large international company). My contract was in USD and my fees were paid in USD (although I was moving from a third country). However, the claim is being handled by their UK office, and they are converting all of the amounts to GBP, and per their contract they are using the exchange rate from the day my move happened, which was when the pound was worth a lot more than it is now.
So in this case, they broke an item and the maximum payout for any item is $1500, and they have agreed to pay the maximum, so they plan to pay £1113, because that's how much $1500 was worth on the day of the shipment. It's only worth $1425 today, though, which is a pretty big difference.
I would much rather be paid $1500 than £1113, but they are insisting that I must be paid in GBP. They say if I want to have it sent to a USD account, they will send it in GBP and my bank will convert it. What this means, in effect, is that although my contract says I will be paid $1500, they are only actually paying $1425 because they won't pay in USD.
Here's what the contract says:
Please also note that – should it be necessary to make any monetary conversions to your claim, i.e., if the currency of the amounts claimed differ from the currency in which you insured your goods – the exchange rate utilized will be that which was prevalent at the time the Confirmation of Coverage was issued.
My question is: if my contract is in USD and I paid in USD, does the reimbursement also need to be in USD, or does the language in the contract that I listed above mean I must be paid in GBP?
When I moved to the UK, the moving company broke a bunch of my things. I've reached an agreement with the movers (it's a large international company). My contract was in USD and my fees were paid in USD (although I was moving from a third country). However, the claim is being handled by their UK office, and they are converting all of the amounts to GBP, and per their contract they are using the exchange rate from the day my move happened, which was when the pound was worth a lot more than it is now.
So in this case, they broke an item and the maximum payout for any item is $1500, and they have agreed to pay the maximum, so they plan to pay £1113, because that's how much $1500 was worth on the day of the shipment. It's only worth $1425 today, though, which is a pretty big difference.
I would much rather be paid $1500 than £1113, but they are insisting that I must be paid in GBP. They say if I want to have it sent to a USD account, they will send it in GBP and my bank will convert it. What this means, in effect, is that although my contract says I will be paid $1500, they are only actually paying $1425 because they won't pay in USD.
Here's what the contract says:
Please also note that – should it be necessary to make any monetary conversions to your claim, i.e., if the currency of the amounts claimed differ from the currency in which you insured your goods – the exchange rate utilized will be that which was prevalent at the time the Confirmation of Coverage was issued.
My question is: if my contract is in USD and I paid in USD, does the reimbursement also need to be in USD, or does the language in the contract that I listed above mean I must be paid in GBP?
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