Torrle (torrle) wrote in artists_beware,
Torrle
torrle
artists_beware

International Exchange Rates

Food for thought. What to do on refunds?

This thought just occurred to me and I'm curious what your views are.


Person A commissions Person B, who is from a different country.
Time passes.
Person B refunds Person A, but the currency exchange has shifted significantly.

Which currency rate does Person B refund an equivalent to?

Example 1: You're paid $50 on a commission, which worked out to $35 in his currency.
Now, on refund, that $50 you were paid is only worth $30 in their currency.

Do you convert back the same $50 (they get back less than what they paid), or convert more to make sure it works out to match what came out of their pocket (and costs you more)?


Example 2: You're paid $50 on a commission, which worked out to $35 in his currency.
Now, on refund, that $50 you were paid is worth $45 in their currency.

Do you convert back the same $50 (they get back more than what they paid), or convert less to make sure it works out to match what came out of their pocket (and costs you less)?

What should be the guideline on this?
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