At 08:52 PM 4/19/00 -0700, Acer V wrote:
>Or you could write him a personal check--or cheque--in US funds, and the
>bank down under credits him in AU funds.
Speaking on behalf of all non-U.S. recipients of U.S. payments everywhere, this
is a bit of a pain, since you can see a fair amount of the value of the payment
in U.S. dollars get eaten up in transaction costs and the cash spread between
the U.S. and other currency (not to mention that in many non-U.S.
jurisdictions, it can take weeks or even months to clear a U.S.-based personal
cheque). Canadians have it relatively good, but if you're in some other
countries which have chronic foreign-exchange shortages, this can be quite a
problem.
Personally, when doing transnational business, I *always* try to convert from
Canadian funds into the target currency *before* sending my payment off. That
way, the recipient doesn't get burned by the conversion process. I've only
been frustrated once, trying to convert into New Israeli Shekels (Israel has a
*huge* foreign-exchange problem). I finally had to send the payment denoted in
U.S. dollars, with a little extra tacked on for the "hassle tax."
Garth
-------
For those of you with a political bent, the Warren G. Harding Institute for
Civic Responsibility holds an annual essay contest on some aspect of politics
and the state.
The topic of this year's essay contest was "Good Government." The winning
entry, in its entirety, was as follows:
"Good government. Good government. Sit. Stay."
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