They have to pay the exchange rate at the rate prevailing on the day that they pay into our bank account. The problem with letting this go is that if the baht goes to 35 or 36 and they maintain that they use a rate of 32 then we will start to lose out big time.
Richie – please write back to them and say that in this instance we will accept a rate of 32. However, on all future payments the prevailing exchange rate ON THE DAY they transfer the money must be used. This is not negotiable for reasons given. Every other agency does that so they have to fall into line.