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  • Writer's pictureJoel White

Friday Pro Tip: Forex

Stepwise approach to mitigation Forex risk on longer term projects:

Step 1

Include language in your customer contract templates allowing for price adjustment for significant Forex fluctuation.

  • Extra tip- Forex language for reimbursable expenses should reflect how your financial system actually converts such expenses.

Step 2

State the baseline Forex rates in project agreements.

Step 3

State the amount of project fees subject to the various Forex rates (few do this).

Step 4

Automate steps 2 and 3 in your pricing tool outputs (even fewer do this).

I can't think of a time when managing Forex wasn't important, and now is no exception (trailing 12 month view as of Thursday night EST):


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