For transactions over LVL 3000, a more favourable currency exchange rate is available

• For transactions exceeding LVL 3000 or an equivalent amount in another currency, SEB bank offers a more favourable exchange rate.
• Favourable exchange rate currency exchange transactions are concluded by phone (confirmation of the transaction is the recorded conversation). The transaction is considered to be concluded and cannot be cancelled after you have agreed with the SEB bank representative by phone about the transaction terms.
• Currency exchange at a more favourable exchange rate can be agreed upon during SEB bank business hours – on weekdays from 9.00 to 17.00 by calling 67215656.
• The conditions of the transaction are stipulated in the bank's General business terms and conditions.

Immediate exchange of one currency against another according to the currently valid rate

• Spot is a currency exchange transaction performed within the same day
• For transactions exceeding LVL 3000, a more favourable currency exchange rate is available
• More information on Spot transactions can be obtained by calling 67215656.

Currency exchange transaction in the future according to the current exchange rate

• Forward is a currency exchange transaction in the future according to the rate set when concluding the transaction.
• By performing a forward transaction, you can protect yourself against negative future currency rate fluctuations and more accurately plan your company's cash flow.
• To carry out a forward transaction, you will need to conclude a contract with SEB banka.
• The forward currency exchange transaction is not revocable after reaching an agreement with the bank – both the bank and the client undertake a liability to perform the currency exchange on the set date, in the specified amount and at the predetermined exchange rate.
• More information on forward transactions can be obtained by calling 67215656.

When is it useful to use forward transactions?

Forward transactions may be useful to you if you work in international markets:

• importing or exporting products with a predetermined price in a foreign currency;
• paying a partner for goods or services in a foreign currency and the incoming/outgoing cash flows of the company in different currencies are predetermined.

Purchasing one currency today and selling the same currency after a determined time

• Swap is a two-tiered currency exchange, simultaneously concluding two currency exchange transactions. You undertake to resell the currency bought today at a future date at the predetermined exchange rate. The Swap transaction enables you to temporarily utilize one currency instead of another and then reverse the exchange.
• More information on swap transactions can be obtained by calling 67215656.

When is it useful to use swap transactions?

• Swap is used to optimise a company's cash flow, for example, when the company's payments are made in one currency, but it is required to make payments in another currency temporarily.
• Swap transactions are often used to transfer the term of the concluded forward transaction to an earlier or later settlement date.

The right (but not the obligation) to buy or sell certain currencies at a specific time for a predetermined price

• The currency option transaction gives the right of option to the buyer to buy or sell a currency at a specific time for a predetermined exchange rate. The option buyer pays an option premium to the seller which depends on the chosen currency pair, the exchange rate, the transaction term and other factors.
• More information on option transactions can be obtained by calling 67215656.

Options are appropriate when you do not know precisely whether the planned payment will take place and you wish to reduce the risk (e.g., participating in tenders, etc.).

Description of risks related to financial instruments
Order Execution Policy for Transactions Involving Financial Instruments
Product group classification